Archive | September, 2014

Take Action: SEC-IAC Report on Impartiality Stops Short

The Investor as Owner Subcommittee of the SEC’s Investor Advisory Committee (SEC-IAC) established pursuant to Section 911 of the Dodd-Frank Act issued a report on Impartiality in the Disclosure of Preliminary Voting Results. The recommendations will be discussed at a meeting on October 9, 2014. When: Thursday, October 9, 10:00 am – 4:00 pm Who: Investor […]

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Issues Update

Delaware Law Issues Update

Register for Issues Update Now Back by popular demand, the Society of Corporate Secretaries & Governance Professionals and the John L. Weinberg Center for Corporate Governance at the University of Delaware invite you to attend the second Delaware Law Issues Update. The conference will feature members of the Delaware judiciary and will be held at […]

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Corporate Political Spending Poll

Corporate Political Spending Disclosure: Strategic Communications Plan

In the absence of mandatory disclosure, companies are increasingly, voluntarily adopting disclosure policies for their corporate political spending – largely in response to pressure from shareholders, investor advocates, the media, political groups and others. In this article, Chuck Nathan suggests that voluntary disclosure may or likely will become the norm – at least among larger companies – within […]

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FDX

FedEx: Proxy Vote Score 42

FedEx $FDX, which provides transportation, e-commerce, and business services in the United States and internationally, is one of the stocks in my portfolio. Their annual meeting is coming up on 9/29/2014. ProxyDemocracy.org had collected the votes of three funds when I checked on 9/20/2014.  I voted with management 42% of the time and assigned them a proxy score of […]

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Jack Bogle

Jack Bogle on Diversified Portfolios vs Speculation

Buying and holding stocks and bonds for the long term and maintaining a diversified portfolio are still the smartest strategies for the average investor, says Vanguard founder Jack Bogle in answer to Mark Cuban and other critics of these traditional approaches. In the Big Interview with Journal columnist Jason Zweig, Bogle takes aim at the […]

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P&I Proxy Voters Cartoon re fiduciary duty

Research Design: Advance Proxy Vote Disclosers

As I mentioned in yesterday’s post, Council of Institutional Investors Fall 2014 Conference: Meeting Availability, I’m encouraging a research project looking into the impact that funds announcing their proxy votes in advance have or can have. I’ve joined with Pensions&Investments in arguing funds have a fiduciary duty to make such advance proxy vote disclosures when that could influence the outcome. […]

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Council of Institutional Investors Fall 2014 Conference: Meeting Availability

James McRitchie, the publisher of Corporate Governance and one of three retail shareowners accused in the New York Times of holding Corporate America ‘hostage,’ will be in Los Angeles September 29 through October 1 attending the Council of Institutional Investors Fall 2014 Conference. I am eager to meet with readers to discuss activist corporate governance […]

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Charles P. Valdes, CSEA President, 1979-83

Valdes Death Marks End to an Era of Corruption at CalPERS

Charles P. “Chuck” Valdes and I first met when he was the President of the California State Employees Association (CSEA) in 1979 or the early 1980s. California state employees had just won collective bargaining rights.  I was advocating that CSEA affiliate with SEIU to increase solidarity between state and private employees. I was struck by […]

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Organize

Organize for Corporate Accountability

I think it was Dina Medland who got many of us in the #corpgov Twitter world, tweeting cartoons on Sunday (#cartoonsunday). These tweets and retweets get ‘read’ far more than most of our actual work-related efforts, certainly more than mine. Thankfully, they offer a quick distraction and usually a hint of insight on the weekend when most […]

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September 11th

We must never forget there was another September 11th, long before our own, when so many dreams were crushed. While our September 11, 2001 was imposed on us by Islamic terrorists, the leaders of our great nation imposed its own form of terrorism with the September 11, 1973 military coup against the democratically elected government […]

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Seal of SEC Rule 14a-8(i)(9)

Tracey L. McNeil Named First SEC Ombudsman

The Securities and Exchange Commission (SEC) announced that Tracey L. McNeil has been selected as the first ombudsman for the agency.  Ms. McNeil will begin her new post on September 22.  She currently is a senior counsel in the SEC’s Office of Minority and Women Inclusion (OMWI), an office created by the 2010 Dodd-Frank Act.  In […]

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Brent Fields to Track Support of SEC Petition on Political Spending

The Securities and Exchange Commission (SEC) announced that Brent J. Fields has been appointed as the agency’s Secretary, who is responsible for overseeing the administrative aspects of Commission meetings, rulemakings, and procedures. Let’s give Mr. Fields a warm welcome with a flood of e-mail supporting the petition to require companies to disclose political spending.  (more…)

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H&R Block logo

H&R Block (HRB): Proxy Vote Score 54

H&R Block $HRB, which provides tax preparation and related services to the general public, is one of the stocks in my portfolio. Their next annual meeting is September 11, 2014. ProxyDemocracy.org had collected the votes of two funds when I checked and voted on 9/7/2014. I also checked the votes of OTPP and CalSTRS. All advance disclosers that I know of […]

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outsourcing the board

Outsourcing the Board Isn’t Warranted or Remedial

Based on a proposal discussed in a recent issue of the Stanford Law Review, this recent Economist article promotes outsourcing corporate boards as a solution to corporate governance failures of the type we have experienced historically. As proposed, outsourcing would consist of replacing individual directors with a new category of professional firms – identified as BSPs or Board Service […]

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Des Hague and puppy about to be kicked

Should CEO Des Hague be Fired for Kicking Puppy?

Sports catering giant Centerplate fined and censured CEO Des Hague last week after an internal review of surveillance video showing him kicking and yanking his friend’s puppy by its leash in a Vancouver elevator.(ESPN) Should the board fire him? Maybe we need more videos of CEOs and board discussing global climate change, slave labor and […]

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