CalSTRS as a Place to Work

CalSTRS Best Place to Work: Survey Could Cinch Fourth Honor

CalSTRS was named a Best Place to Work in Money Management for 2017 by Pensions & Investments magazine. This year’s honor is the third CalSTRS has garnered—the only public pension plan to do so. They could cinch a fourth such honor by surveying member values. Pensions & Investments, a global news source for money management, created the […]

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28th Annual SRI Conference

28th Annual SRI Conference

The 28th Annual SRI Conference in San Diego was amazing. Search #AllinForImpact on Twitter to see prior posts. Mark your calendar for November 1-3, 2018. The SRI Conference returns to the Broadmoor in Colorado Springs. Get in the mailing list. (more…)

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Ordinary business

Ordinary Business: Human Rights/GHG, Says Apple

Apple again invokes the ‘ordinary business’ exclusion roadmap provided by SEC Staff Legal Bulletin 14I (SLB 14I) in an attempt to muzzle shareholders. In the face of mounting evidence of inevitable manmade climate change and with the recognition that society has increasingly limited possibilities of mitigating the worst outcome for future generations, Jantz Management LLC submitted […]

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Millennials Seek to Support Sustainability through 401k Plans

Millennials: Sustainability 401k Plans

As millennial-aged employees now represent the majority of the U.S. workforce, it is increasingly important that corporate management finds ways to engage them in the company. Creating 401k plans which connect to their core values — like solving human, social and environmental problems through their work and investments — can be a huge advantage to the company as a […]

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Berry Global Group

Berry Global Group Adopts Majority Vote

The Board at Berry Global Group ($BERY) is moving toward more democratic governance, thanks to the efforts of a retail shareholder who would be denied the right to file proposals if the Chamber of Commerce, Business Roundtable and others had their way. The Berry Global Group has adopted proposals submitted by the same small retail […]

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$UNFI 5 Year Chart

$UNFI: Proxy Voting Guide

$UNFI, United Natural Foods, Inc. distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. $UNFI opposes giving shareholders effective rights to allow shareholders to call a special meeting and opposes putting change-in-control agreements to a shareholder […]

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India Proxy Season 2017 - InGovern

India Proxy Season 2017: InGovern

The India Proxy Season 2017 came to an end on September 30th. InGovern collated meeting details of 1,502 companies. I do very little to cover the India proxy season, so welcome this informative report from InGovern, India’s first independent corporate governance research and advisory firm. Downloaded a pdf of the report, India Proxy Season 2017 (more…)

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SRI Engagement to Create SDGs

SRI Engagement & Monitoring

SRI engagement and monitoring was a major theme during my first day at the 28th Annual SRI Conference this year (#AllinForImpact), although my 1st impressions were interrupted by the issuance of SEC SLB 14I, as previously noted. SRI has grown more than 13% a year since 1995 (when I started this blog) and now total over $8.7 trillion in […]

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Mt. Lebanon High

Kennedy Assassinated: Mt. Lebanon Remembered

I was in a Mt. Lebanon English class on November 22, 1963, taking a test when the principal came on the loudspeaker to let us know President Kennedy had been assassinated. Our teacher told us to take a moment of silence. After 60 seconds, we were to resume our test. As I had so many […]

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Trump Jump

Trump Jump: Disclose Political Expenses

The Trump Jump The Center for Political Accountability reported today on a Trump Jump. Mutual funds support for the CPA’s corporate political disclosure resolution jumped significantly in the first year of the Trump presidency. In 2017, support increased to 48% from 43% in 2016, according to an analysis by Fund Votes. The analysis also found that abstentions decreased […]

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Investor Response to Chamber - Don't Box Us In

Investor Response to Chamber: Don’t Gut Rights

Investor Response to Chamber: Letter Representatives of hundreds of investors with trillions of dollars in assets delivered a letter to the SEC on November 9, 2017, An Investor response to U.S. Chamber’s Proposal to Revise SEC Rule 14a-8 (report). We noted with interest the November 1, 2017, guidance contained in Staff Legal Bulletin No. 14I. […]

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CLX Clorox: You Don't have to vote with the Board

CLX: Vote Clorox Proxy Access

The Clorox Company, CLX, manufactures and markets consumer and professional products worldwide. It operates through four segments: Cleaning, Household, Lifestyle, and International. CLX opposes giving shareholders effective proxy access to enable us to place nominees on our company’s ballot. Shareholders have no right to act by written consent. It takes 25% of shareholders to call […]

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Standing Voting Instructions Ban Suppresses Retail Vote

Standing Voting Instructions: Reviewed

Standing Voting Instructions: Empowering the Excluded Retail Investor by Jill E Fisch just could be the most important article on corporate governance this year… if it is widely read and acted on. Download at ecgi, Penn Law or SSRN. The above photo is from Small Investors Support the Boards. But Few of Them Vote, The New York […]

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SLB 14I Discourages Shareholder Proposals

SLB 14I (CF) – SRI Conference: 1st Impression

SLB 14I (CF): Issued During 28th Annual SRI Conference The latest SEC Staff Legal Bulletin, SLB 14I (CF), was issued on November 1, while 800 attended the 28th Annual SRI Conference in San Diego. I was flipping though the agenda when I got an email from a Bloomberg reporter asking for feedback on SLB 14I, which […]

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Nicholas Donofrio & Nora Denzel - Culture as a Corporate Asset

Culture as a Corporate Asset

The NACD Blue Ribbon Commission on Culture as a Corporate Asset identifies how boards can play an active role in shaping corporate culture to promote growth and avoid crisis. The NACD Northern California Chapter offered an inside look at the new 2017 Report of the Blue Ribbon Commission on Culture as a Corporate Asset. at its […]

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The Storm Before the Storm

The Storm Before the Storm: Reviewed

The Storm Before the Storm: The Beginning of the End of the Roman Republic by Mike Duncan reviewed from something of a corporate governance perspective. The final victory over Carthage in the Punic Wars led to rising economic inequality, dislocation of traditional ways of life, increasing political polarization, the breakdown of unspoken rules of political conduct, the […]

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Governance, Liquidity, and Employee Retention

Governance, Liquidity, and Employee Retention

Governance, Liquidity, and Employee Retention in an Era of Capital Abundance was the full title of last Thursday’s morning event sponsored by the Silicon Valley Directors Exchange and Stanford’s Rock Center for Corporate Governance. As billed, we were to hear  a panel of experts discuss the role of the board of directors in addressing challenges of […]

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Pearl Meyer on CEO Pay Ratios

Pearl Meyer on CEO Pay Ratios

Pearl Meyer on CEO Pay Ratios: Pay Transparency is the New Black Pearl Meyer on CEO pay ratios. The leading advisor to boards and senior management released its 2018 Looking Ahead to Executive Pay Practices survey but long before that, in May 2015, one of their principals declared Pay Transparency is the New Black. I guess […]

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Conoco Targeted by Sisters of St Francis

Conoco Virtual Only Meetings Targeted

Conoco’s virtual only annual meeting is the target of a shareholder proposal by the Sisters of St. Francis of Philadelphia. A similar proposal was filed at Comcast. The Conoco resolution has already been cofiled by the Church of the Brethren Benefit Trust and the Needmor Fund, a Walden client. As responsible shareholders, we believe good corporate governance […]

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Disney Ties to Pat Robertson

Disney Ties to Pat Robertson Need Clarified

Disney ties to Pat Robertson could lead to further gun violence if not clarified. Nancy Levine wrote a post that demands attention from Disney shareholders. Where Is Disney’s Outrage About Pat Robertson? Pat Robertson’s Outlandish Blame Game As Levine notes, Pat Robertson blamed the Los Vegas massacre on Americans’ disrespect for Donald Trump. Among the things Robertson said, (more…)

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William Steiner and son Kenneth Steiner

William Steiner, Shareholder Activist

William Steiner recently became the most experienced shareholder activist alive to win majority votes for shareholder proposals at public companies. A few months ago, he celebrated 40 years of shareholder activism with an overwhelming victory at Haemonetics Corporation (HAE). The following is based on an interview with Mr. Steiner by his son, Kenneth Steiner, who […]

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General Counsel Corporate Culture Influencer

General Counsel: Corporate Culture Influencer

Corporate Culture Influencer On September 11, 2017, the John L. Weinberg Center for Corporate Governance hosted a discussion on the role of the general counsel and how she should be a positive corporate culture influencer. The Center has been working with the Association of Corporate Counsel (ACC) to examine this issue in light of ACC’s recent […]

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moskowitz-research-prize

Moskowitz Winner: CSR & Executive Compensation

Moskowitz Prize Winner Announced Moskowitz prize winner for 2017 was announced today by the Center for Responsible Business at the Haas School of Business, University of California, Berkeley, in collaboration with The SRI Conference (#AllinForImpact). The prize is named after research pioneer Milt Moskowitz, one of the first researchers to look for the connection between good corporate […]

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The Ascendancy of Finance

Ascendancy of Finance – Reviewed

The Ascendancy of Finance (link) by Joseph Vogl, explains the dramatic transfer of power to  the financial sector that occurred over centuries but accelerated during the recent financial crisis. Traditionally, markets limited state power and were, in turn, restrained by the nation states. As Vogel notes, “In this theoretical myth, spaces of freedom are weighed against concerns […]

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Center for Political Accountability

Center for Political Accountability: Video Friday

Since 2003, the Center for Political Accountability (CPA) has spearheaded disclosure and accountability in corporate political spending. Corporations are the top political spenders at the state and local level. They are a dominant force in shaping public policy. Next proxy season, I will join the Center for Political Accountability in filing proposals on this important topic. […]

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Climate Competency

CII: Climate Competency & Risk

Shifting Investor Perspectives on Climate Risk & Board Climate Competency These notes on climate competency are my last post from the Council of Institutional Investors Fall 2017 conference.  Find more at #CIIFall2017.  As a member of the press, I was excluded from the policy-making meetings. Still, it was a great opportunity to touch base with members […]

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IRRCi Research Award Winners

IRRCi Research Award Submissions Due

IRRCi Research Award Submission Deadline is October 6, 2017. Two categories: Practitioner and Academic. Winners to Receive $10,000 each and get to present at the 2107 influential Columbia University Millstein Center Forum. The Investor Responsibility Research Center Institute (IRRCi) is accepting submissions through October 6, 2017, for its sixth annual competition for research that examines the interaction […]

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Index Providers Speak

CII: Index Providers Speak

Index Providers Speak: Policy Process and Voting Rights Index providers spoke at #CIIFall2017 about how they develop their policies. Specifically, they discussed recent developments around voting rights. Index Providers Represented Annalisa Barrett, Clinical Professor of Finance at the University of San Diego (Moderator) David Blitzer, Managing Director & Chairman of the Index Committee, S&P Dow Jones Pavlo Taranenko, Executive Director, Index […]

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Richard Bookstaber

CII: Richard Bookstaber – Dynamic Risk Models

Richard Bookstaber: Human Complexity and the Financial Markets Richard Bookstaber discusses value at risk modeling — easily the most illuminating talk at #CIIFall2017. It was certainly statistics aimed at the layperson. However, in listening to him, I was glad I completed by PhD comprehensive in statistics 35 years ago.  I scribbled a few notes. Although I can’t […]

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