Ford (FDMTP) is one of the stocks in my portfolio. Their annual meeting is coming up May 12. Today is the last day to vote my proxy on the MoxyVote.com platform.
ProxyDemocracy.org had one fund voting when I looked yesterday (CBIS). MoxyVote.com had seven recommendations, but none for the whole ballot. While I’m happy with Ford’s performance, I see that CEO/Chairman Alan Mulally was paid $26.5 million this year, $18 million last year, $17 million the year before. Soon it starts to add up to real money. 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 Ford. These sums are just too high.
I also voted for all the shareowner proposals, which look entirely appropriate to me. I believe in more disclosure of political contributions (Evelyn Y. Davis), one share one vote (Ray T. Chevedden) and the right of 10% to call a special meeting (John Chevedden).
| NUM. | PROPOSAL TEXT | MGMT | McRitchie |
|---|---|---|---|
| 1 | Elect Director Stephen G. Butler | For | For |
| 2 | Elect Director Kimberly A. Casiano | For | For |
| 3 | Elect Director Anthony F. Earley, Jr. | For | For |
| 4 | Elect Director Edsel B. Ford II | For | For |
| 5 | Elect Director William Clay Ford, Jr. | For | For |
| 6 | Elect Director Richard A. Gephardt | For | For |
| 7 | Elect Director James H. Hance, Jr. | For | For |
| 8 | Elect Director Irvine O. Hockaday, Jr. | For | For |
| 9 | Elect Director Richard A. Manoogian | For | For |
| 10 | Elect Director Ellen R. Marram | For | For |
| 11 | Elect Director Alan Mulally | For | For |
| 12 | Elect Director Homer A. Neal | For | For |
| 13 | Elect Director Gerald L. Shaheen | For | For |
| 14 | Elect Director John L. Thornton | For | For |
| 15 | Ratify Auditors | For | For |
| 16 | Advisory Vote to Ratify Named Executive Officers’ Compensation | For | Against |
| 17 | Advisory Vote on Say on Pay Frequency | One Year | One Year |
| 18 | Political Contributions and Lobbying | Against | For |
| 19 | Approve Recapitalization Plan for all Stock to have One-vote per Share | Against | For |
| 20 | Amend Articles/Bylaws/Charter — Call Special Meetings | Against | For |
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