John Chevedden sent along this example of a shareowner proposal by Kenneth Steiner to allow shareowner’s holding 10% of the company’s shares to call a special meeting. The proxy language was butchered, removing the title.
Verizon claims stripping away the title of the proposal had no impact on votes. Chevedden points out Verizon didn’t strip away the titles of management’s proposals. Even with this handicap, Steiner’s proposal received 43% support. It is disappointing to find yet another example where management has their thumb on the scale and is unapologetic. (see also, How Votes are Counted: More Important Than Who Votes at Plum Creek)
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