There is not an issue of concern to any investor that is not being systematically harmed by unfair proxy vote counting practices. Although it is late in the day, we ask you to weigh in on the ISS survey to ask them to recommend FOR simple-majority voting and counting proposals in the upcoming proxy season.
As I previously reported (ISS Proxy Voting Survey Due Friday at 5:00 pm ET), ISS has circulated a 2016 survey. They encourage participation from any-and-all (not just ISS clients) so it would be entirely appropriate for all readers to weigh in.
In addition to shareowners, the press has a strong vested interest in doing so. Most reporters must write their stories the day of the AGM (or by the next morning) but the actual vote results are not delivered to the SEC until several days later. This makes them unwitting mouthpieces for deceptive managers that counts abstentions as no votes. Few reporters go back to correct or augment their story. Thus, we unwittingly help perpetuate an essential myth promulgated by management’s use of variant vote-counting formulas. Continue Reading →