Episode Details

Story of the Week (DR):

Cracker Barrel Investors Back CEO After Logo Fiasco, But Drop Director MM

Shareholders vote to oust board member Gilbert Dávila; director and CEO had been activist targets

Dávila has resigned from the board, Cracker Barrel said.

US regulator will permit companies to exclude shareholder proposals from proxies

Securities and Exchange Commission could reshape corporate governance by making it harder for investors to seek changes

The US Securities and Exchange Commission on Monday said it would allow companies to exclude shareholder proposals from proxy materials, as Wall Street’s top regulator increasingly moves to limit investor activism.

Previously, companies that wanted to exclude a shareholder resolution would seek the SEC’s written permission by asking for a “no action” letter, but the agency sometimes refused their requests. Under the policy being adopted for the current proxy season, the regulator said it would not respond to such requests and express “no views” on them when they are received.

OpenAI says Larry Summers has decided to resign from board of directors

OpenAI’s board publicly said they “respect his decision” and thanked him for his service. 

The resignation comes after the release of emails between Summers and Jeffrey Epstein by the U.S. House Oversight Committee. 

Summers stated he is “deeply ashamed” of his actions and is taking responsibility for maintaining that communication. 

Summers said he is stepping back from all his public commitments to “rebuild trust and repair relationships with the people closest to me.” 

He’s also going on leave from Harvard, where he had been teaching. 

Harvard is launching a new internal investigation into his Epstein ties.

And in case you’re wondering: nothing official from OpenAI, despite these other releases since it happened:

OpenAI and Foxconn collaborate to strengthen U.S. manufacturing across the AI supply chain

Helping 1,000 small businesses build with AI

Early experiments in accelerating science with GPT-5