Form 13F reporting is another obscure SEC requirement. Most investors know nothing about it. However, following the money is important. Add your voice to thousands sounding the alarm about proposed changes. Form 13F is how funds report to the SEC what they have invested in. Like many rules proposed during the Trump Administration, these are […]
Political Party of Funds
Political Party of Funds No, you can’t find that information on CorpGov.net. But, you can at YourStake. Go there now to find out how much money the companies in your mutual fund donate to Democratic and Republican candidates. (more…)
You Missed This: Research in Sustainable Finance
“You Missed This” will distill this season’s sustainable finance papers. We highlight key findings and trends, including important recent work that might have been overlooked. One digestible event for your research needs. (more…)
#MICUS 2020 Comparing Sustainable Funds
#MICUS 2020, the Morningstar conference, had so much to write about during day 1 that it may take me a month or so to go through it. Register for day 2 if you missed the first day. I just heard Larry Fink, of BlackRock. For someone heading the largest pile of investment money in the […]
Tesla 2020 Simple Majority Vote
Tesla 2020 annual meeting is 9/22/2020 at 1:30PM Pacific in Mountain View. It will be a hybrid meeting. To enhance long-term value: Vote AGAINST Denholm, Pay, Auditor, Paid Ads. Vote FOR Simple Majority Vote, and reports on Arbitration, and Human Rights. See list of all virtual-only meetings maintained by ISS. View Tesla Investor Briefing. (more…)
FedEx 2020 Written Consent Needed
FedEx 2020 annual meeting is 9/21/2020 at 10:00AM Pacific. To attend the annual meeting of stockholders at www.virtualshareholdermeeting.com/FDX2020, you must enter the control number on your proxy card, voting instruction form or Notice of Internet Availability. To enhance long-term value: Vote AGAINST Jackson, Schwab, Steiner, Walsh, Griffith, Pay, Auditor. Vote FOR all shareholder proposals. See list of all […]
Tesla Investor Briefing 2020 AGM
Tesla Investor Briefing 2020 AGM. Join Investor Advocates for Social Justice, CorpGov.net, Nia Impact Capital, and Whistle Stop Capital. When: Friday, September 18, 2020 at 12 EST/9am PST. Investor briefing for Tesla shareholders and media in advance of the upcoming Tesla AGM (September 22nd). The webinar will provide an overview of three of the shareholder […]
Boulder Letter Repealed: Comments Needed
The “Boulder Letter” explained why opting into a state statute limiting a shareholder’s ability to vote all their shares violates the Investment Company Act. SEC Staff recently repealed the Letter. Consistent with other recent actions, this dilutes the rights of shareholders. In conclusion, another democratic-free zone was provided to entrenched managers and boards. If you […]
Recovery AND Broader Ownership: Build Back Better
Recovery AND Broader Ownership: Take Action Economic recovery AND broader ownership can be ours. We need a nation of employees who more fully share and participate in a healthy recovery through ownership. Support legislation introduced by Republicans and Democrats: S 4236, [Senator Ron Johnson (R-WI) and Senator Tammy Baldwin (D-WI)] inject working capital into American […]
Trump Celebrates Labor Day
Trump celebrates labor day. Many who actually labor cringe at his repulsive words and actions. There are far instances too many to mention. Below are a few that are top of mind. (more…)
Chat Rooms Missing at Shareholder Meetings
Chat Rooms are the key missing ingredient at virtual shareholder meetings. Virtual-only shareholder meetings increased dramatically (from 286 in 2019 to 2,200 so far in 2020) due to the Covid-19 pandemic. Chat rooms before and after meetings would allow shareholders to interact informally with each other and with corporate representatives, as they do at in-person […]
Corporate Accountability: Classes Starting Soon
Corporate Accountability: Restoring the Balance Corporate Accountability Facilitator: James McRitchie, Shareholder Advocate Online Fridays, Oct 16, 23, 30; 12 to 1:30 pm Classes are held using Zoom. (more…)
Virtual Shareholder Meetings: Zoom Seminar
How Shifting from In-Person to Virtual Shareholder Meetings Affects Shareholders’ Voice, Miriam Schwartz-Ziv‘s new paper recently posted on SSRN will be the subject of a virtual seminar held on Wednesday, Sept 2nd, from 11 AM-noon EDT. See the link below. (more…)
ESG Rulemaking by DOL
ESG Rulemaking by DOL – comments are in. Several investor organizations and financial industry firms released an analysis of the more than 8,700 public comments on the Department of Labor’s (DOL) proposed rulemaking on the consideration of environmental, social and governance (ESG) considerations in ERISA-governed retirement plans. There is overwhelming opposition to the “Financial Factors […]
Boardroom Governance with Evan Epstein (podcast)
Boardroom Governance with Evan Epstein is a podcast of in-depth interviews with leading corporate governance experts. So please listen to his latest: James McRitchie: The Gadfly Seeking Corporate Change Via Shareholder Proposals. (more…)
The Gadfly with Gabriel Malek (podcast)
The Gadfly With Gabriel Malek (click to listen) This is my current favorite of the #corpgov #ESG podcasts. I am partial to the name gadfly, since I am often called one myself. Likewise, Malek is trying to talk with the same audience I am hoping to reach. Sure, we both want environmental, social, and governance […]
BRT’s Stakeholder Capitalism
BRT’s Stakeholder Capitalism Exposed Lucian Bebchuk and Roberto Tallarita recently published an op-ed in the Wall Street Journal, ‘Stakeholder’ Capitalism Seems Mostly for Show. “If CEOs really intended to amend their companies’ purpose, they’d at least consult their boards first.” In an email with a link to the op-ed and the study upon which it is based, Bebchuk […]
Electronic Arts 2020: Vote FOR Written Consent
Electronic Arts 2020 annual meeting is 8/6/2020 at 2PM Pacific virtually by entering the eligible shareholder’s 16-digit control number found on the proxy card. To enhance long-term value: Vote AGAINST Coleman, Hong, Huber, Ubinas, Simonson, Probst, Ueberroth, Pay and Auditor. Vote FOR Written Consent. See list of all virtual-only meetings maintained by ISS. (more…)
Allegiant Travel Company (ALGT): Shareholder Alert
Allegiant Travel Company (ALGT) is the subject of the PX14A6G filing below. Mr. Chevedden is concerned that Allegiant Travel Company is requiring an in-person meeting during this Covid-19 pandemic, despite guidance to the contrary from the SEC. From Yahoo Finance: (more…)
Spring 2020 CorpGov.net Proxy Proposal Results
Spring 2020 CorpGov.net Proxy Proposal results are in. Once again, rules proposed by the SEC would likely cost shareholders billions of dollars because of delayed good governance practices. Since the SEC has not yet finalized their costly rulemaking, I filed the following update on their proposed Procedural Requirements and Resubmission Thresholds under Exchange Act Rule […]
Shareholder-Driven Stakeholderism
Shareholder-Driven Stakeholderism (U of Chicago) by Cathy Hwang and Yaron Nili argues the Business Roundtable Statement of the Purpose of a Corporation should be seen as another way to entrench management, instead of disarming greedy profit-driven shareholders. Analysis of data, drawn from companies in the S&P 1500, found shareholders, not management, “have been the driving force behind […]
The Giant Shadow of Corporate Gadflies
The Giant Shadow of Corporate Gadflies, by Yaron Nili and Kobi Kastiel, (download at SSRN) is one of the more objective reviews of the recent influence of “gadflies” on corporate governance in America. It might have been even better if the authors had discussed their work with the subjects of their study – the gadflies. (Disclosure: […]
Redesigning Corporations: Incentives Matter
Redesigning Corporations: Incentives Matter (link) by Nicholas Benes is undoubtedly one of the most important corporate governance articles of 2020. Benes goes straight to the heart of irresponsible capitalism by addressing the unintended consequences of limited liability. A small tax on each trade of each company, refundable in 5 years if the company doesn’t declare bankruptcy, […]
25th Annual Moskowitz Prize: Call for Papers
25th Annual Moskowitz Prize 25th Annual Moskowitz Prize for Outstanding Quantitative Research in Sustainable and Responsible Investing submission deadline is June 30, 2020. As interest in impact and sustainable investing grows, so too does the recognition that such strategies can outperform, mitigate risk and be resilient in a crisis. That puts a premium on the […]
Henderson – Reimagining Capitalism in a World on Fire
Rebecca Henderson, Reimagining Capitalism in a World on Fire points to the real need for reform and offers several suggested improvements, primarily the need to focus on purpose. (link to Amazon) I review her book below and offer my own four cents of advice. Today (6/24/2020) Rethinking Capitalism: A fireside conversation with Rebecca Henderson and Ioannis Ioannou […]
Racial Equity: Investors in Solidarity
Racial equity is a serious issue. Investors, including Corporate Governance (CorpGov.net), must take action. The investor community has perpetuated and benefitted from systemic racism. We say it ends now. We’re proud to sign the Investor Solidarity Statement alongside 128 investors to end systemic racism in the sector. Join us at #RacialJusticeInvesting. (more…)
Pegasystems 2020: Simple Majority Vote
Pegasystems 2020 annual meeting is 6/23/2020 at 7AM Pacific virtually. They are using Computershare, so shareholders holding in street name have to get a legal proxy and submit it by June 18th. Since my broker sends those by snail mail, I would have had to initiate the process by about June 8. Pegasystems says that will […]
CEO Compensation was a Joke Before Covid-19
CEO Compensation was a Joke Before Covid-19, Now It is Just Obnoxious In an era of sacrifice, risk, and despair for many employees, one group of employees has yet again defied the norm, often with significant increases in actual compensation and wealth during the COVID-19 pandemic and resulting economic and societal turmoil. Who are these […]
Assembly Bio 2020: Special Meetings
Assembly Bio 2020 annual meeting is 6/11/2020 at 8AM Pacific (update) virtually by entering the eligible shareholder’s 16-digit control number found on the proxy card. To enhance long-term value: Vote AGAINST Holubiak, Mahony and Ringo, Pay, Stock Plan, token Special Meeting 25%. Vote FOR real Special Meeting Right of 15%. See list of all virtual-only meetings maintained […]
Salesforce 2020
Salesforce 2020 annual meeting is 6/11/2020 at 2PM Pacific virtually by entering the eligible shareholder’s 16-digit control number found on the proxy card. To enhance long-term value: Vote AGAINST Benioff, Conway, Hassenfeld, Kroes, Robertson, Roos, and Webb, Equity Incentive Plan, Auditor, Executive Pay. Vote FOR Employee Stock Purchase Plan and Written Consent. See list of all virtual-only meetings maintained by ISS. […]