Fri, Jul. 11, 2003

German Corporate Governance Code Published

CK - Washington.   A German government-chartered commission has published its Corporate Governance Code (Deutscher Corporate Governance Kodex). The commission consists of academics and business leaders. The code applies to stock corporations listed on the German stock exchanges. A list of companies that subscribe to the code is published.

An exemption provision lets companies state that they do not comply with the code. In addition, the code has been drafted with language that enables companies to deviate from the recommended standards. The rationale for such accommodations is that corporations should not be too tightly pressed into definitive structures of governance where industry specific necessities dictate other solutions.

The commission expects the code to be voluntarily applied by private companies and to review and amend the code annually.

Petition to Fix MS Windows Browser

CK - Washington.   An important petition suggests that Microsoft fix its internet browser to properly display PNG images. For instance, the logo above displays a white background in MS's broken windows browser but a transparency in regular browsers. Presumably, without having achieved a near-monopoly in browsers for windows users, MS would have fixed this feature several versions ago as it promised for version 4.

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