It's official:  Mary Schapiro plans on sitting in the SEC Chairman's seat for at least another year.  That;s according to an SEC spokesperson.  The move may quiet critics of both the Agency and Ms. Shapiro, who have witnessed a series of recent stumbles and political challenges - e.g., an ethics scandal involving its former general counsel;  a stream of critical court decisions;  critical reports from its internal watchdog;  House Republicans trying to cut its budget despite its massive workload under Dodd-Frank. Answering What Everyone's Been Wondering. Outside observers of the SEC have quietly wondered for months if the setbacks would prompt Schapiro to step down.  If Ms. Schapiro isn't embarrassed by what's been happening, she should be. In July, a federal appeals court threw out a new SEC rule that would have given investors more power to oust corporate directors, saying the agency didn't adequately analyze the rule's costs to U.S. companies.  This is a standard requirement of all SEC rules - so it was definitely avoidable. The Agency opened up a political can of worms over its aborted, long-term plan to lease extra, high-priced office space in anticipation of having to hire new staff to handle its new Dodd-Frank responsibilities.  The SEC essentially was forced to give up its autonomy to negotiate such leases. Schapiro joined the agency in January 2009 and her first steps involved a sweeping reorganization to the SEC's enforcement division.   [Wall Street Journal, 10/11/11]