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 […]
Archive | February, 2012
Canadian Securities Administrators (CSA): 2011 Enforcement Report
James McRitchie, 02/28/2012 ,
Key highlights of the 2011 Enforcement Report: 66 of the concluded cases involved illegal distributions, which represented (more…)
2012 Guide to Social and Environmental Shareholder Proxy Proposals
James McRitchie, 02/28/2012 ,
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 […]
Apple Improves Governance
James McRitchie, 02/27/2012 ,
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 […]
Video Friday: Mark Latham's Voter Media
James McRitchie, 02/24/2012 ,
Ben Christopher wrote a great profile of Mark Latham, highlighting some of his ideas and efforts around the voter media concept. (A Math Wiz’s Idea to Revive Local Journalism, The Tyee, 1/27/2012) (more…)
Conference Board Offers FactSet Data
James McRitchie, 02/23/2012 ,
Last week, the Conference Board and FactSet Research Systems announced a joint initiative to analyze and disseminate aggregate data from the annual general meetings (AGMs) of U.S. public companies. (more…)
"For Benefit" Corporations Explained at NorCalNACD Event
James McRitchie, 02/22/2012 ,
On October 9, 2011, California Governor Jerry Brown signed into law bills that create two new corporate forms in California: (more…)
Research on Post-Modern Portfolio Theory Awarded by IRRC Institute
James McRitchie, 02/21/2012 ,
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 […]
Apple: My "Say on Director Pay" Proposal & How I'm Voting
James McRitchie, 02/21/2012 ,
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 […]
Job Opportunities: Entry Level at CalPERS – Investment Officers at CalSTRS
James McRitchie, 02/18/2012 ,
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 […]
Video Friday: Two Webinars – Activism and Shareowner Proposals
James McRitchie, 02/17/2012 ,
Highlights from Thomson Reuters IRHub Blog Trends in Activism and Say on Pay. Executive compensation and board-related issues, including withholding votes for Directors who are members of executive compensation committees, are the top concerns of shareholders. Other corporate governance issues include too much (more…)
Corporate Directors Forum 2012 – Part 10: Stephen I. Chazen
James McRitchie, 02/16/2012 ,
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 may be a cryptic… incomplete sentences bt hopefully mor intelligible thN txt msgN or Tweets. (more…)
End Corporate Demockary
James McRitchie, 02/15/2012 ,
Corporations determine far more than any other institution the air we breathe, the quality of the water we drink, even where we live. Yet they are not accountable to anyone. Those words were on the 1991 cover of Power and Accountability: Restoring the Balances of Power Between Corporations and Society by Robert A.G. Monks and […]
Corporate Directors Forum 2012, Part 9: The "Big Deal" in One Act
James McRitchie, 02/15/2012 ,
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 may be a cryptic… incomplete sentences bt hopefully mor intelligible thN txt msgN or Tweets. (more…)
Corpgov Bites
James McRitchie, 02/14/2012 ,
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. […]
Western Union Drops 5% Proxy Access Proposal
James McRitchie, 02/13/2012 ,
Western Union Co. (WU) unveiled a proposal to declassify its board structure and said it won’t submit a management proposal for proxy access at its 2012 annual (more…)
Proxy Votes Leaked for Cash & Gifts
James McRitchie, 02/13/2012 ,
According to the New York Post (Advisory firm employee leaking shareholder voting data, whistleblower claims, a “whistle-blower” complaint has been lodged with the SEC against a midlevel employee in ISS’s Boston office who “has been (more…)
Corporate Directors Forum 2012, Part 8: Risk
James McRitchie, 02/13/2012 ,
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 may be a cryptic… incomplete sentences bt hopefully mor intelligible thN txt msgN or Tweets. (more…)
Groundhog Year for HP
James McRitchie, 02/11/2012 ,
Eleanor Bloxham, CEO of The Value Alliance and Corporate Governance Alliance, writes critically of HP’s Meg Whitman and their board in HP: Same issues, different year for Fortune magazine. (more…)
Video Friday: What Does BlackRock Want?
James McRitchie, 02/10/2012 ,
This Week in the Boardroom: 2/9/12 . (more…)
Exclusive Forum Bylaws Bring Lawsuits
James McRitchie, 02/10/2012 ,
Reuters reports that “Chevron Corp. and eight other corporations were sued by shareholders on Tuesday for adopting a bylaw that requires common types of shareholder lawsuits be brought exclusively in Delaware’s Chancery Court.” (more…)
Corporate Directors Forum 2012 Part 7: Laster Inspires Multi-forum Nightmare – Small Claims Shareowner Flash Mobs
James McRitchie, 02/09/2012 ,
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 […]
SharkRepellent: Research Lessons for Shareowner Activists
James McRitchie, 02/08/2012 ,
I’ve been browsing around SharkRepellent.net for a few minutes a day for a few days. Unlike many of the sites I discuss, this one costs money to access but for many the cost may be well worth it. SharkRepellent offers in-depth research the takeover (more…)
Corporate Directors Forum 2012 – Part 6: Face-off on "Best Practices"
James McRitchie, 02/08/2012 ,
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 may be a cryptic… incomplete sentences bt hopefully mor intelligible thN txt msgN or Tweets. (more…)
The Shareholder Activist
James McRitchie, 02/07/2012 ,
TheShareholderActivist.com™ is a new source for information and advice to facilitate responsible shareholder activism. The site includes tools, tactics, and techniques to help retail investors fully exercise their rights in publicly traded (more…)
Virtual Lockout at Corporate Meetings: Occupy Some Other Space
James McRitchie, 02/07/2012 ,
Glyn Holton, the executive director of USPX, once again expresses his concerns over efforts by Broadridge Financial Solutions to make virtual meetings palatable to shareowners. I urge you to (more…)
No. CA NACD: "For-Benefit Enterprise" Law Explained
James McRitchie, 02/06/2012 ,
Newly appointed Commissioner of California Corporations, Jan Owen, discusses the new “For Benefit” laws and provides a status update of other pertinent issues affecting public and private corporations. Sponsored by the Northern California chapter of the National Association of Corporate Directors. Event details at bottom. (more…)
Corporate Directors Forum 2012 – Part 5: Proxy Advisors; Fashion Police?
James McRitchie, 02/06/2012 ,
These are some relatively quick notes that I’m sharing from the Corporate Directors Forum 2012, held on the beautiful campus of the University of San Diego, January 22-24, 2012. Since I am busy with no-action requests, this post may be a cryptic… (more…)
No Employees on Compensation Boards Under UK's Cameron
James McRitchie, 02/04/2012 ,
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 […]
Proxy Access: Now We Are Four
James McRitchie, 02/04/2012 ,
First, we learned that Daniel Rudewicz, a USPX member, filed a proposal at KSW, a Long Island City, N.Y.-based company with a $19.7 million market capitalization that furnishes and installs heating, ventilating, and air conditioning systems and process piping systems. (more…)
Video Friday: Moyers
James McRitchie, 02/03/2012 ,
Bill Moyers is back on television! Here is a recent episode of “Moyers and Company,” which asks: “how did our political and financial class shift the benefits of the economy to the very top, while saddling us with greater debt and tearing new (more…)
Corporate Directors Forum 2012 – Part 4: Has the Power Needle Moved?
James McRitchie, 02/03/2012 ,
These are some relatively quick notes that I’m sharing from the Corporate Directors Forum 2012, held on the beautiful campus of the University of San Diego, January 22-24, 2012. This post may be a cryptic… not complete sentences bt hopefully mor intelligible thN txt msgN. (more…)
Corporate Directors Forum 2012 – Part 3: Has the Financial Crisis Changed the "Governance-Industrial Complex"?
James McRitchie, 02/02/2012 ,
These are some relatively quick notes that I’m sharing from the Corporate Directors Forum 2012, held on the beautiful campus of the University of San Diego, January 22-24, 2012. This post may be a cryptic… not complete sentences bt hopefully mor intelligible thN txt msgN. (more…)
PNBC 1st to Allow USPX Model Proxy Access Proposal
James McRitchie, 02/01/2012 ,
David Monier reports that his proxy access proposal, which utilized model USPX language, will be included on the proxy of the Princeton National Bancorp, Inc (PNBC). See list of other proxy access proposals maintained by proxy (more…)