Goldman Sachs is one of the stocks in my portfolio. Their annual meeting is coming up May 6. Today is the last day to vote my proxy on the MoxyVote.com platform.
ProxyDemocracy.org had only two funds voting when I looked yesterday, CalPERS and CBIS.
MoxyVote.com had sixteen recommendations, although several were from voting consolidations for categories. There is no side-by-side comparisons, so users must scroll and click to determine who voted how. Of course, I voted for my own proposal on reducing the requirements to hold a special meeting. I largely voted with CalPERS, although I voted in favor of the Nathan Cummings Foundation proposal to review executive compensation and make certain disclosures.
Unlike CalPERS, I voted against the executive compensation package based on the $14M pay package for
CEO/Chair Lloyd C. Blankfein shown in last year’s CD&A, well over the mean. I just can’t see paying anyone over $14 million. 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 Goldman Sachs.
 | ELECTION OF DIRECTOR: LLOYD C. BLANKFEIN | |
 | ELECTION OF DIRECTOR: JOHN H. BRYAN | |
 | ELECTION OF DIRECTOR: GARY D. COHN | |
 | ELECTION OF DIRECTOR: CLAES DAHLBACK | |
 | ELECTION OF DIRECTOR: STEPHEN FRIEDMAN | |
 | ELECTION OF DIRECTOR: WILLIAM W. GEORGE | |
 | ELECTION OF DIRECTOR: JAMES A. JOHNSON | |
 | ELECTION OF DIRECTOR: LOIS D. JULIBER | |
 | ELECTION OF DIRECTOR: LAKSHMI N. MITTAL | |
 | ELECTION OF DIRECTOR: JAMES J. SCHIRO | |
| ADVISORY VOTE ON EXECUTIVE COMPENSATION MATTERS (SAY ON PAY) | |
| ADVISORY VOTE ON THE FREQUENCY OF SAY ON PAY | |
| RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR OUR 2011 FISCAL YEAR | |
| SHAREHOLDER PROPOSAL REGARDING CUMULATIVE VOTING | |
| SHAREHOLDER PROPOSAL REGARDING SPECIAL SHAREOWNER MEETINGS | |
| SHAREHOLDER PROPOSAL REGARDING EXECUTIVE COMPENSATION AND LONG-TERM PERFORMANCE | |
| SHAREHOLDER PROPOSAL REGARDING A REPORT ON SENIOR EXECUTIVE COMPENSATION | |
| SHAREHOLDER PROPOSAL REGARDING A REPORT ON CLIMATE CHANGE RISK DISCLOSURE | |
| SHAREHOLDER PROPOSAL REGARDING A REPORT ON POLITICAL CONTRIBUTIONS |
Wall Street giant Goldman Sachs is facing six separate environmental, social and governance (ESG) related shareholder proposals at its forthcoming annual general meeting…
The Sisters of Saint Joseph of Boston, Sisters of Notre Dame de Namur, the Sisters of St. Francis of Philadelphia and the Benedictine Sisters of Mt. Angel, in a co-filing with the Nathan Cummings Foundation, want the company’s Compensation Committee to review Goldman’s senior executive compensation policies and publish a report by October 1. Goldman, they say, became the focus of public anger over “extremely excessive executive compensation schemes” following the near implosion of the financial markets in 2008.
The proposal seeks an evaluation of whether Goldman’s top pay is indeed “excessive” and should be modified…
The National Center for Public Policy Research is calling for a report by November 1 disclosing the business risk related to developments in “the political, legislative, regulatory and scientific landscape regarding climate change”…
Domini Social Investments is seeking a report on Goldman’s political contributions. There are also proposals from shareholder activists Evelyn Davis, James McRitchie and John Harrington on cumulative voting, special shareowner meetings and long-term incentives.
via Responsible Investor, April 5, 2011.
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