Women, who  make up about 40% of the students at elite business schools,  have an especially difficult time moving into the ranks of senior management at America’s largest public companies. New data from the research from the nonprofit Catalyst shows that 60 of the Fortune 500 corporations have no female directors. Out of the same group, 136 companies have no women among their top five executives.  Moreover, there are 26 Fortune 500 firms which have neither a female board member nor a woman in executive management. The data came from proxy statements filed as of June 30, 2010.  24/7 Wall St. research found that four companies have added a female director since then: Philip Morris, Blockbuster, Virgin Media, and Synnex.

After we reviewed the Catalyst data, the companies were categorized by industry, and 24/7 Wall St. examined their corporate websites to see whether they had any women in top management at all. When we did find someone, they were usually in human resources, public relations, investor relations, or accounting.

The figures are outrageous and point to lingering misogyny in the board rooms and executive suites of a number of America’s largest companies. It is incomprehensible how public companies in the 21st Century can manage to exclude women from such critical roles.

1) Autoliv (ALV)
Autoliv makes and distributes automotive safety products, such as airbags and seat belts.
-Company lists no women on management team.

2) Cameron International (CAM)
Cameron International is a global provider of flow equipment products, systems, and services to oil, gas, and process industries.
-Rozlin Larkey – Vice President of Human Resources
-Grace B. Holmes – Corporate Secretary

3.) CC Media Holdings (CCMO.PK)
CC Media Holdings, the parent company of Clear Channel Communications, is a media company that works in radio and advertising.
-Company lists no women on management team.

4.) CHS (CHSCP)
CHS, which occupies the 91st position on the Fortune 500, is a diversified energy, grains, and food company.
-Company lists no women on management team.

5.) Emcor Group (EME)
Emcor group designs and constructs electrical and mechanical systems, including transformers, generators, and power cables.
-Mava K. Heffler – Vice President of Marketing and Communications

6.) Energy Transfer Equity (ETE)
Energy Transfer Equity, which owns the general partner of Energy Transfer Partners, transports natural gas throughout the United States.
-Company lists no women on management team.

7.) EOG Resources (EOG)
EOG Resources is one of the largest independent natural gas and oil companies in the United States.  As of the end of 2009, it employed approximately 2,100 people.
-Maire Baldwin – Vice President of Investor Relations
-Patricia Edwards – Vice President of Human Resources
-Ann Janssen – Vice President of Accounting

The public company stakes in the U.S. are as follows:

• AmeriCredit Corp. (NYSE: ACF) 33,900,440 shares.
• Capital Southwest Corporation (NASDAQ: CSWC) 19,776 shares.
• Endwave Corp. (NASDAQ: ENWV) 70,000 shares; shares up over 9% today.
• International Assets Holding Corporation (NASDAQ: IAAC) 1,384,985 shares.
• Jefferies Group Inc. (NYSE: JEF) 48,585,385 shares.
• Millennium India Acquisition Company Inc. (NASDAQ: SMCG) 120,000 shares; stock up over 30% on this today.
• TravelCenters of America LLC (NYSE: TA) 275,308 shares.

This is a very eclectic mix for a company often thought of as a mini-Berkshire or Buffett mirror.  If anything, this might be a more like “Buffett’s alter ego” on the surface.  The company has operations in manufacturing (Idaho Timber), telecom (STi Prepaid), land based contract oil and gas drilling Keen Energy), property management and services (ResortQuest International), gaming entertainment (Premier Entertainment Biloxi), real estate activities (various), medical product development (Sangart, Inc.-hemoglobin) and it even lists winery operations (Pine Ridge, Archery Summit, Chamisal Vineyards, and development project).

As far as what else is there, Lecadia has its hands in many operations.  It has the JHYH venture with Jefferies which makes markets in high yield and special situation securities and provides research coverage on these types of securities.

The company’s investment in Fortescue and its subsidiary, FMG Chichester Pty Ltd., consists of 247,986,000 common shares (about 8% o outstanding shares) and a $100,000,000 note of FMG that matures in August 2019.

Non-current available for sale investments include 5,600,000 common shares of Inmet Mining Corporation in Canada (“IMN-TSX”) with a cost of $78,000,000 and carrying values of $325,500,000.

This morning came a filing that was as follows: Asset Put Agreement by and among Berkadia III, LLC (now known as Berkadia Commercial Mortgage LLC), Capmark Finance Inc., Capmark Capital Inc., and Capmark Financial Group Inc. and, with respect to Sections 2.5, 10.5, 10.7, 10.11, 10.16 and 10.17 only, Leucadia National Corporation and Berkshire Hathaway Inc. dated as of September 2, 2009… FULL DETAILS

Leucadia shares are down almost 0.5% at $24.30 on only 150,000 shares right at Noon today.  The 52-week trading range is $18.00 to $28.37 and the 52-week trading range is $5.91 billion.  At the March 31 quarter, the total assets were listed as $6.988 billion versus total liabilities of $2.408 billion.

JON C. OGG

• Kenexa (Nasdaq: KNXA) announced on November 8, 2007 that it authorized the repurchase of up to 2 million shares of the company’s common stock, and it has already completed the repurchase of over 1 million shares since the approval of the repurchase program.  It only has about 25.5 million shares outstanding.
• Edgewater Technology, Inc. (NASDAQ: EDGW) announced that its Board of Directors authorized the purchase of up to $5.0 million of the Company’s common stock; approximate market cap is $87 million.
• Harvard Bioscience, Inc. (NASDAQ: HBIO) has authorized the repurchase of up to $10 million of its common stock over the next 24 months; shares rose 5% Friday and its market cap is $130 million.
• Pomeroy IT Solutions, Inc. (NASDAQ:PMRY) authorized a somewhat unusual program to repurchase up to $5 millionof its outstanding common stock.  In addition, the Board adopted awritten trading plan under Rule 10b5-1 of the Act to facilitate therepurchase of its common stock. Rule 10b5-1 allows the Company topurchase its shares at times when the Company would not ordinarily bein the market because of the Company’s trading policies or thepossession of material non-public information. Pomeroy’s market cap is$86 million.
• Alcon, Inc. (NYSE:ACL) approved a new share repurchase program that allows for the purchase of up to $1.1 billionof shares of outstanding common stock targeted over a twelve monthperiod.  The $1.1 billion share repurchase program provides for a purchase of shares from the company’s majority shareholder,Nestle, S.A. Specifically at a rate of three shares fromNestle for every share acquired by the company in the market. This new program is in addition to thecompany’s existing repurchase program, under which, as of December 5,2007, the company has remaining authorization to repurchase up to 2.8million shares. It is anticipated that the new repurchase program willcommence in the first quarter of 2008.
• The Western Union Company (NYSE: WU) authorized an additional $1 billionfor purchases of its common stock through 2009, and this is in additionto the approximately $300 million remaining under previous sharerepurchase authorization. With a $1.3 Billion total plan, it has $17Billion market cap.
• International Assets Holding Corp. (NASDAQ:IAAC) renewed the Company’sshare repurchase authorization for an increased amount of $5,000,000 in shares of common stock.  The renewal will be effective January 1, 2008. IAAC’s market cap is $226 million.
• 4Kids Entertainment (NYSE:KDE) saw its shares rise on a 1 million share buyback of around $11 million; market cap is $157 million.  FULL REVIEW with value investor synopsis.
• Dell (NASDAQ:DELL) was the biggy of the week, but you wouldn’t haveknown it if you saw the stock trades.  It is reinstating its sharerepurchase plan and will spend up to $10 Billion in share buyback.  Its market cap is $55.8 Billion.  FULL COVERAGE.

Many of these buyback stocks are under review for our Special Situation Investing Newsletter.

Here are some of the big updates or increases that took place this week:

• ArcelorMittal (NYSE: MT) has been making updates on itsongoing share buyback in the E.U.   Under the new share buy-backprogram announced on 13 September 2007, Arcelor Mittal has repurchased4,450,000 shares from 29 November until 5 December 2007 at an averageprice of EUR 48.7403 and for a total amount of EUR 215,773,685.00.
• Penson Worldwide, Inc. (NASDAQ: PNSN) has authorized the expenditure of up to an additional $12.5 millionto buy back Company common stock, bringing its total buybackauthorization since July 2007 to $37.5 million.  As previouslyreported, during Q3 & Q4, Penson has bought a total of 1,474,503shares, equal to approximately 6% of shares outstanding in the initialrepurchase plan.
• Celadon Group Inc. (NASDAQ:CLDN) completed its 2 Million share buyback and authorization an additional 2 Million Share Buyback through December 3, 2008; it has 23.76 million shares outstanding.
• H.B. Fuller Company (NYSE:FUL) recently completed its $100 million share repurchase planthat was announced in July and approximately 3.6 million shares ofcommon stock were repurchased; its market cap is $1.56 Billion.
• Health Grades, Inc. (NASDAQ: HGRD) gave an update on itsstock repurchase program: From November 12 through December 3, 2007, itpurchased an additional 309,600 shares on the open market at an averageprice of $5.48 a share.  As of December 3, it has purchased 1,570,554shares of its common stock on the open market at an average price of$4.78 a share. The aggregate purchase price is approximately $7.5million.  Based on it stock repurchase program of 3 million shares intotal, HealthGrades remains able to purchase an additional 1,429,446shares.
• Templeton Russia and East European Fund, Inc. (NYSE:TRF)authorized management to withdraw the Fund’s proposed secondaryoffering of the Fund’s shares of common stock AND authorized managementto reinstate the Fund’s open-market share repurchase program, which wassuspended in connection with the Fund’s proposed secondary offering.This closed-end fund has 5.44 million shares outstanding.

Here was the FULL COVERAGE of our Buyback Summary from Monday Dec. 3:
The Day In Stock Buybacks (SMTC, ASI, EQR, DFS, LCUT, IBM, CPT)

Jon C. Ogg
December 7, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.