Archive | February, 2012

Companies Use Range of Arguments to Exclude Proxy Access Proposals

Of the 16 proxy access proposals filed by proponents in 2012 and listed on the ISS Checklist, eight are being challenged at the SEC. Ferro, Hewlett-Packard, Nabors Industries, CME Group, Pioneer Natural Resources, Staples and Charles Schwab have not sought no-action relief from proposals at the commission, according to data from ISS. Conversely, Bank of America, Chiquita Brands International, MEMC Electronic Materials, Sprint Nextel, Textron, Goldman Sachs, Western Union and Wells Fargo have asked the SEC for permission to omit the proposals. Continue Reading →

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2012 Guide to Social and Environmental Shareholder Proxy Proposals

Following another year of record-breaking shareowner votes on social and environmental issues – including five majority votes – socially responsible investors are gearing up to have even greater impact in 2012. This year’s edition of Proxy Preview provides a comprehensive overview of hundreds of upcoming social and environmental shareholder resolutions. It also offers insider details from Continue Reading →

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Apple Improves Governance

The preliminary vote gave my “say on directors pay” less than 4%, so I guess putting that proposal up at the world’s largest most profitable company with so many happy shareowners may have been a mistake. However, I note that Apple cut the pay of a couple of directors from $1.2 million to about half that, so maybe my Continue Reading →

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Research on Post-Modern Portfolio Theory Awarded by IRRC Institute

The Investor Responsibility Research Center (IRRC) Institute today announced the first recipients of a new annual research competition that examines the interaction of the real economy with investment theory. A blue-ribbon panel of judges selected two papers – one practitioner and one academic – for the new IRRC Institute Research Award.  The authors of each research paper received a $10,000 award.

Steve Lydenberg received the practitioner award for research entitled, Reason, Rationality and Fiduciary Duty. A 30-year veteran of the asset management Continue Reading →

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Apple: My "Say on Director Pay" Proposal & How I'm Voting

Apple (AAPL) is one of the stocks in my portfolio. Their annual meeting is coming up on February 23, 2012 (Thursday). This is one meeting I’ll be attending in person, both to vote and to move my motion to provide shareowners with a “say on directors pay.”

When I last looked, MoxyVote.com had recommendations from twelve “good causes.”  ProxyDemocracy.org had four participating funds voting. Continue Reading →

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Job Opportunities: Entry Level at CalPERS – Investment Officers at CalSTRS

CalPERS seeks a Staff Services Analyst to work under the general direction of the Staff Services Manager II of the Investment Policy & Business Services Division. The Staff Services Analyst assigned to the position identified above demonstrates the CalPERS Core Values (Quality, Respect, Integrity, Openness, Accountability, and Balance), works well as a member of a team, and takes initiative in effectively Continue Reading →

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Corpgov Bites

When I started posting in 1995 I could come home from work, do a quick search on Alta Vista (before google) and read everything posted on corporate governance in a few minutes. Now searching “corporate governance” brings up 34 million results and 200 “personal results,” which looks like posts from people in my google+ circle. Who can keep up. Here’s a few recent items worthy Continue Reading →

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Corporate Directors Forum 2012 Part 7: Laster Inspires Multi-forum Nightmare – Small Claims Shareowner Flash Mobs

These are some relatively quick notes that I’m sharing from the Corporate Directors Forum 2012, held at the University of San Diego, January 22-24, 2012. This post diverges to a flight of fancy inspired by a problem raised by judge J. Travis Laster at the Forum… a flight of fancy that borders on nightmare. In part 8 I promise to get back to reality and actually report again on the Forum. Continue Reading →

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No Employees on Compensation Boards Under UK's Cameron

UK Prime Minister David Cameron rejected a Labor Party proposal that an ordinary employee sit on a company board compensation committee, noting that having an employee on the committee would break an important principle of not having people on a remuneration committee who will have their own pay determined. Since when are boards setting the pay of ordinary employees? Continue Reading →

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