Andrew Shapiro, President, Lawndale Capital Management

Last Update

2016-09-07T00:00:00.000Z

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Andrew Shapiro

Direct Phone: (415) ***-****       

Email: a***@***.com

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Lawndale Capital Management

591 Redwood Highway #2345

Mill Valley, California 94941

United States

Find other employees at this company (5)

Background Information

Employment History

Finance Courses Teacher

Berkeley

Vice President

First City Capital

Board Observer

Earl Scheib , Inc.

Affiliations

Board Member
Mill Valley Public Library

Board Member
Why Individuals Matter

Member
National Association of Corporate Directors

Board Member
Board

Member
National

Board Member
ShareOwners.org incorporated

Vice Chairman of Directors
Arlington Hospitality , Inc.

Sustaining Member
Council of Institutional Investors

Venture Capital Fellow
UCLA

Web References (188 Total References)


Corporate Governance News: October 2008

corpgov.net [cached]

Andrew Shapiro, President of Lawndale Capital Management.

...
If you missed the program, check out the podcast page on the SVNACD site where a post-session interview with Shapiro will be soon be posted. (Disclosure: James McRitchie, publisher of CorpGov.net, is an investor in a vehicle managed by Shapiro's Lawndale Capital.


Andrew Shapiro, President of ...

corpgov.net [cached]

Andrew Shapiro, President of Lawndale Capital Management.

...
If you missed the program, check out the podcast page on the SVNACD site where a post-session interview with Shapiro will be soon be posted. (Disclosure: James McRitchie, publisher of CorpGov.net, is an investor in a vehicle managed by Shapiro's Lawndale Capital.


Panelists - Patrick S. McGurn, special ...

corpgov.net [cached]

Panelists - Patrick S. McGurn, special counsel, RiskMetrics Group , ISS Governance Services; Jennifer Salopek, chairman, Charlotte Russe Holding, Inc. principal, ARC Business Advisors LLC; Andrew E. Shapiro, president, Lawndale Capital Management, LLC; John Wilson, director, Corporate Governance, TIAA-CREF.

...
Shapiro sees a wave of management led buyouts on the horizon as well as activism by creditors to address over leveraged balance sheets and liquidity problems. He is buying up debt that can be converted to equity... reamortizing balance sheets. He expects this to continue for several years because of limited economic growth. Management is likely to see the light at the end of the tunnel first and will use that advanced knowledge to look for private buyout opportunities. He sees too many no-shop clauses, rights of first refusal and other deal protectors that give a control premium to management.
...
Shapiro and others pointed out the real impact of proxy access may be overblown, since not much will be saved by having a universal proxy card.
...
Shapiro emphasized the need for communication, citing its lack as the biggest reason for escalation by funds like his. He also sees that interaction as part of director responsibilities around "duty of care."
Another panelist cited a university of Santa Cruz study that showed even one woman director on a corporate board led to greater board independence and better financial reports. (sorry, I did a quick search but didn't find the study) That led to discussion around diversity and the need to apply thinking more broadly. I know that CalPERS and CalSTRS are working to build a pool of potential candidates for proxy access nominations. Diversity will play a large part in developing the list.
Shapiro gave some advice concerning annual meetings, pointing to Warrn Buffett's practice of calling on individual committee chairs to report their respective parts of the annual report. Also some discussion around virtual meetings with Intel pulling back on their virtual-only meeting, but that web broadcast would allow many more to participate and would make them a real event that could generate a lot of publicity and positive dialogue. (see my posts on this from 1/20/10 and earlier same day)
Wilson's final advice included papering in a day or two of engagement for directors with shareowners before the meeting. Shapiro similarly recommended calling your top 10 shareowners to hear their concerns... actually check in with several types. Keyword for the panel - communication. Further reading: Activist Shareholder Dialogue, Andrew Shapiro.


Panelists - Patrick S. McGurn, special ...

corpgov.net [cached]

Panelists - Patrick S. McGurn, special counsel, RiskMetrics Group , ISS Governance Services; Jennifer Salopek, chairman, Charlotte Russe Holding, Inc. principal, ARC Business Advisors LLC; Andrew E. Shapiro, president, Lawndale Capital Management, LLC; John Wilson, director, Corporate Governance, TIAA-CREF.

...
Shapiro sees a wave of management led buyouts on the horizon as well as activism by creditors to address over leveraged balance sheets and liquidity problems. He is buying up debt that can be converted to equity... reamortizing balance sheets. He expects this to continue for several years because of limited economic growth. Management is likely to see the light at the end of the tunnel first and will use that advanced knowledge to look for private buyout opportunities. He sees too many no-shop clauses, rights of first refusal and other deal protectors that give a control premium to management.
...
Shapiro and others pointed out the real impact of proxy access may be overblown, since not much will be saved by having a universal proxy card.
...
Shapiro emphasized the need for communication, citing its lack as the biggest reason for escalation by funds like his. He also sees that interaction as part of director responsibilities around "duty of care."
Another panelist cited a university of Santa Cruz study that showed even one woman director on a corporate board led to greater board independence and better financial reports. (sorry, I did a quick search but didn't find the study) That led to discussion around diversity and the need to apply thinking more broadly. I know that CalPERS and CalSTRS are working to build a pool of potential candidates for proxy access nominations. Diversity will play a large part in developing the list.
Shapiro gave some advice concerning annual meetings, pointing to Warrn Buffett's practice of calling on individual committee chairs to report their respective parts of the annual report. Also some discussion around virtual meetings with Intel pulling back on their virtual-only meeting, but that web broadcast would allow many more to participate and would make them a real event that could generate a lot of publicity and positive dialogue. (see my posts on this from 1/20/10 and earlier same day)
Wilson's final advice included papering in a day or two of engagement for directors with shareowners before the meeting. Shapiro similarly recommended calling your top 10 shareowners to hear their concerns... actually check in with several types. Keyword for the panel - communication. Further reading: Activist Shareholder Dialogue, Andrew Shapiro.


Andrew ...

www.growthcapitalexpo.com [cached]

Andrew Shapiro

...
Andrew Shapiro
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Andrew Shapiro
Lawndale Capital Management
Andrew Shapiro is Founder, President and Portfolio Manager of Lawndale Capital Management, a manager of small-cap activist hedge funds for more than 21 years. In addition to leading Lawndale, Mr. Shapiro has also served as a Director or Observer on Lawndale portfolio boards and debt/equity bankruptcy committees. Prior to founding Lawndale's funds in 1993, Mr. Shapiro accumulated a rare combination of experience in credit, legal and equity analysis in a variety of roles managing bankruptcy, turnaround, leveraged buyout, risk arbitrage, and small-capitalization investments. Mr. Shapiro has both JD and MBA degrees from the UCLA School of Law and UCLA Anderson School, respectively, and a BS in Business from UC Berkeley, where he has also taught finance courses. He is a member of the National Association of Corporate Directors (NACD) and was selected to the 2012 NACD Directorship 100, a list of the most influential leaders in the boardroom and corporate governance community. Mr. Shapiro is also a frequent speaker on activist investing and has been the subject of several articles, including a Business Week article calling him "The Gary Cooper of Governance". Mr. Shapiro is on the faculty of UCLA Anderson's Director Education and Certification Program.

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