Last night at a seminar jointly sponsored by the Delaware Valley Association of Corporate Counsel of America (DELVACCA), the Delaware State Bar Association (DSBA), MBNA, and Computer Sciences Corporation (CSC), Delaware's Chancellor William B. Chandler III, spoke eloquently regarding the impact (or mostly the lack thereof) of the Sarbanes-Oxley Act of 2002 (SOX) on corporate governance issues. I think that I will venture to summarize the Chancellor's points in saying that there is no one-size SOX that fit all corporations' feet.
In a brief pre-seminar dramatic clash between the MBNA culture and normal world culture, I was forced to leave the lobby to wait on the front stairwell for my co-workers to arrive. It wasn't enough that I had been cleared on the guest list by security and was standing in the plain view of three MBNA reps, in a large otherwise empty lobby a few feet from the front door. The MBNA culture was that I should either proceed to the bar and mingle, or wait outside. I, of course, would rather rough it than knuckle under to big brother (or big sister in this case). Thanks Regina.
In fairness, the MBNA facilities were beautiful and the refreshments and h'ourderves were nicely done.
