The 100 Most Overpaid CEOs: Are Fund Managers Asleep at the Wheel? is the second such report from As You Sow in two years. I hope it continues as an annual tradition. I urge everyone to read it. Rosanna Landis Weaver, Jackie Cook and others contributing to this project did a great job. As Nell Minow said of […]
CalPERS Search Begins The California Public Employees’ Retirement System (CalPERS) officially launched its search for a new Chief Executive Officer (CEO) to lead and manage the pension fund, health benefit programs and its 2,700 employees. (more…)
Proxy Access at Apple (AAPL) will be one of the most important votes of the proxy season. Will shareholders settle for the board’s recently adopted “lite” version, akin to greenwashing, or will shareholders vote in favor of real proxy access? Boards, investors, and the corporate governance industrial complex are watching in anticipation. Your opportunity to vote […]
Qualcomm, Inc. (QCOM, $QCOM) is engaged in providing third-generation (3G), fourth-generation (4G) and next-generation wireless technologies. Qualcomm, Inc is one of the stocks in my portfolio. Their annual meeting is on March 8, 2016. ProxyDemocracy.org had collected the votes of three funds when I checked. I voted AGAINST the Omnibus Stock Plan and Harish Manwani and FOR proxy access. I voted with the Board’s recommendations […]
Disney ($DIS), together with its subsidiaries, operates as an entertainment company worldwide. Disney is one of the stocks in my portfolio. Their annual meeting is on March 3, 2016. ProxyDemocracy.org had collected the votes of three funds when I checked. I voted against the pay proposal and compensation committee and in favor of shareholder proposal to eliminate supermajority requirements and […]
Apple Inc. (AAPL) meeting on 2/26/2016 provides shareholders an opportunity to vote FOR real proxy access. Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, and portable digital music players to consumers, small and mid-sized businesses, education, and enterprise and government customers worldwide. It is one of the stocks in my portfolio. I will […]
Sustainability Reporting Resolutions Receive Strong Support Sustainability reporting, as an issue, came out strongly this season on February 4, 2016, when ESCO Technologies hosted its Annual General Meeting (AGM). A shareholder proposal by Walden Asset Management requesting a comprehensive sustainability report, including greenhouse gas (GHG) emissions reduction goals, received 43.5% support, excluding abstentions. I was […]
Substantial implementation, that’s what SEC staff deemed proxy access ‘lite’ last week. Investor rights were eroded again as staff granted a number of no-action letters on February 12th to companies based on “substantial implementation” of proxy access. At its founding, the SEC was largely a champion of shareholder rights. The SEC required companies to include proposals […]
Berry Plastics Group Inc (BERY) provides innovative plastic consumer packaging and engineered materials. It is one of the stocks in my portfolio and their annual meeting is on February 24, 2016. ProxyDemocracy.org had collected two votes when I checked. I voted against the pay plan, directors and in favor of Myra Young proposal to elect each director annually, therefore with the […]
Apple’s proxy access lite led me to a little thought experiment after reading the following reaction at Mac Rumors: “Maybe if all macrumors members who are shareholders band together, we can nominate one of our own!” What are the possibilities that members of Mac Rumors, any, or even all of the thousands of Apple-centric groups around the […]
Franklin Resources, Inc. (BEN) is a publicly owned asset management holding company, which includes Franklin Templeton Investments, and is one of the stocks in my portfolio. Their annual meeting is on February 17, 2016. ProxyDemocracy.org had collected the votes of two funds when I checked. I voted against three directors and for the proposal for a report on voting incongruities […]
The AFL-CIO Key Votes Survey is designed to help pension fund trustees fulfill their fiduciary duty to monitor the proxy voting performance of investment managers. Good corporate governance matters to shareholders and proxy voting is the most direct means for shareholders to exercise oversight in relation to the corporations they own. (Read the full report.) Proxy […]
Norges Bank published their second annual report on responsible investment of the Government Pension Fund Global. They clarified expectations towards companies in 2015 and are creating a model I hope many will follow The report provides a comprehensive review of work by Norges Bank on responsible investment in the management of the fund. Key areas […]
CSP Inc. (CSPI), together with its subsidiaries, develops and markets IT integration solutions and cluster computer systems to commercial and defense customers in the Americas, Europe, and Asia. CSP Inc. is one of the stocks in my portfolio. Their annual meeting is on February 9, 2016. ProxyDemocracy.org didn’t have a listing for CSP I presume it is because the company […]
TD Ameritrade Holding Corporation (AMTD) provides securities brokerage services and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. TD Ameritrade is one of the stocks in my portfolio. Their annual meeting is on February 18, 2016. ProxyDemocracy.org had collected no votes when I checked. I voted against the pay and […]