Hess is one of the stocks in my portfolio. Their annual meeting is coming up May 4. Today is the last day to vote on the MoxyVote.com platform.
ProxyDemocracy.org had two funds voting, covering all the issues. MoxyVote.com has four advisors or compilations of advisors offering opinions. I voted on the MoxyVote.com platform and went with “SRI Pros Cause,” which “consists of professional investment organizations that practice socially responsible investing (SRI).” I am happy to see them voting against the executive compensation package because last year’s CD&A showed it was well over the mean. I just can’t see paying anyone over $18 million. Take a look at the proxy. As I’ve discussed before (Just How Clever Are Directors on Pay Issue?), high executive pay is problematic to both the corporation and society for many reasons. I’ve decided, at least for now, the best way to counter the “Lake Wobegone effect” of pay ratcheting ever higher is to vote down almost all packages above the mean. That’s what I’ve done at Hess.
|ELECTION OF DIRECTOR: E.E. HOLIDAY|
|ELECTION OF DIRECTOR: J.H. MULLIN|
|ELECTION OF DIRECTOR: F.B. WALKER|
|ELECTION OF DIRECTOR: R.N. WILSON|
|APPROVAL OF THE ADVISORY RESOLUTION ON EXECUTIVE COMPENSATION.|
|APPROVAL OF HOLDING AN ADVISORY VOTE ON EXECUTIVE COMPENSATION EVERY ONE, TWO OR THREE YEARS, AS INDICATED.|
|RATIFICATION OF THE SELECTION OF ERNST & YOUNG LLP AS INDEPENDENT AUDITORS FOR FISCAL YEAR ENDING DECEMBER 31, 2011.|
|APPROVAL OF THE PERFORMANCE INCENTIVE PLAN FOR SENIOR OFFICERS, AS AMENDED.|
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