How I Voted at BP & Why I Vote on MoxyVote

BP, one of the stocks in my portfolio of about 50 companies, has an Apr 14, 2011 Annual Meeting coming up. I pulled up the “proxy statement” but didn’t have much patience with it… couldn’t easily find pay package, etc… perhaps because not US company. I checked in with and… last day to vote using MoxyVote!

At ProxyDemocracy I see that Trillium voted against management on just about everything. I’m not quite that rebellious. I went with Florida SBA and CBIS, taking the harder line against management whenever they differed.

MoxyVote had recommendations from three groups but it is a little more difficult to compare them on that site since you have to click on each to get their recommendations, unless they are on your list of good causes. It looks like “Diversity” is asking people to vote against the only woman on the board, while “Women on Boards” is voting for her. CBIS is recommending a vote against her. I’ll go with the majority of recommendations here and stick with my decision based on ProxyDemocracy.

So, here below are the votes I cast through MoxyVote. I hold BP in more than one portfolio (am I crazy?), but using MoxyVote I can mark up my ballot and use it over and over again with different control numbers… a nice time saver.

Another advantage of using the MoxyVote platform is that you can avoid unintentionally giving your vote to management.  On the platform that your broker probably includes a link to in their e-mail reminding you to vote, if you fail to vote an item then it goes to management (see my petition to the SEC on Blank Votes).  At MoxyVote, you can go to your preferences and insure your default is abstain.

After logging in, next to “Welcome Jim” or the your name link, click on “My Profie.”  Then you want to look down the left hand side at the bottom under your priority cue – it says “Prioritize and manage” in a big red block – hit that button.  Then at the bottom you will see a radial dial with three choices – always vote with, against or abstain. If you’re like me, you’ll choose abstain.

1Accept Financial Statements and Statutory ReportsAgainst
2Approve Remuneration ReportAgainst
3Re-elect Paul Anderson as DirectorFor
4Re-elect Antony Burgmans as DirectorAgainst
5Re-elect Cynthia Carroll as DirectorAgainst
6Re-elect Sir William Castell as DirectorAgainst
7Re-elect Iain Conn as DirectorFor
8Re-elect George David as DirectorAgainst
9Re-elect Ian Davis as DirectorFor
10Re-elect Robert Dudley as DirectorFor
11Re-elect Dr Byron Grote as DirectorFor
12Elect Frank Bowman as DirectorFor
13Elect Brendan Nelson as DirectorFor
14Elect Phuthuma Nhleko as DirectorFor
15Re-elect Carl-Henric Svanberg as DirectorAbstain
16Reappoint Ernst & Young LLP as Auditors and Authorise Their RemunerationAgainst
17Authorise Market PurchaseFor
18Authorise Issue of Equity with Pre-emptive RightsFor
19Authorise Issue of Equity without Pre-emptive RightsFor
20Authorise the Company to Call EGM with Two Weeks’ NoticeAgainst
21Authorise EU Political Donations and ExpenditureAgainst
22Amend ShareMatch PlanAgainst
23Amend Sharesave UK Plan 2001Against

I’ve got votes coming up at Citigroup, Dreamworks, Kellog and Berkshire Hathaway later this month. Any recommendations from readers?

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