Rapoza, Kenneth. “For The Black Sea State of Georgia, There’s Economic Life Post-Russia”, October 6, 2016. Forbes.

Investors, consider this: finding growth in Europe is like looking for a needle in a haystack. For years the biggest growth stories were the ex-Soviet states in the Baltics, now fully incorporated into the euro zone and growing at around 3%. For corporate investors looking for a bit more upside, what’s left over there? Georgia?

Wastler, Allen. “Admitting Guilt or Heftier Fines? The SEC’s Call”, June 22, 2013. CNBC.

“Compelling companies to admit guilt as a condition of a settlement may help prevent fraud. The approach may be helpful, but probably grossly insufficient,” said Lev Janashvili, managing director of GMI Ratings, a group that follows corporate governance issues, in a statement to CNBC.

Pfeifer, Stuart, and Walter Hamilton. “Herbalife Investors Meet — Briefly; Shareholders Get Less Than 15 Minutes With Executives.”, April 26, 2013. Los Angeles Times.

“The whole purpose of the meeting obviously is to allow shareholders to raise questions and to give the company an opportunity to respond,” said Lev Janashvili, managing director at research firm GMI Ratings. “The decision not to take questions and respond fully because you’re in the quiet period certainly doesn’t add up.”

Quiet periods are intended to prevent companies from giving important tips to a small number of favored investors, Janashvili said. They are not intended to interfere with annual meetings, which are open to all shareholders, he said.

And even if a company mistakenly thinks it’s limited by a quiet period, there’s an easy solution, Janashvili said: Don’t schedule the annual gathering during a quiet period.

Crooks, Ed. “GE Set for Landmark Board Vote”, March 18, 2013. Financial Times.

Lev Janashvili, managing director of GMI Ratings, a consultancy, said GE had received poor ratings because of the lack of an independent chairman, the “over-boarding” of independent directors with too many other commitments, and executive pay policies.

Diamond, Randy. “CalPERS Backing ESG Engagement With Stock Purchases”, March 4, 2013. Pensions&Investments.

Lev Janashvili, managing director of corporate governance research firm GMI Ratings in New York, said he believes CalPERS is the first pension fund to build a separate portfolio — beyond indexed positions — of companies it has engaged. “We have not seen anything like this with a public face,” Mr. Janashvili said. “It seems pretty simple and pretty sensible.”

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