Archive | September, 2019

CSP Directors Majority Vote Requested for 2020

CSP Directors Majority Vote Requested for 2020

CSP Directors Majority Vote requested in shareholder proposal for 2020 proxy season. This should be an easy but meaningful ask. More than 91% of S&P 500 use that standard. CSP’s market cap is about $55M, so CSP is a very small but even a majority of small-caps use a majority vote standard when electing directors. […]

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Quick Tour for Sacramento AAII

Quick Tour of CorpGov.net

Quick Tour for Sacramento AAII Members of the Sacramento Chapter of the American Association of Individual Investors (AAII), Computer Investing Special Interest Group (SIG), wanted a quick tour of CorpGov.net. Happy to oblige. (more…)

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Rescind No-Action Policy

Rescind No-Action Policy

Investors ask SEC to rescind no-action policy recently announced. Additional resources and commentary regarding the new SEC No-Action Policy are included below the letter. Click for PDF. (more…)

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2019 Public Fund Forum Takeaways - Montage Deer Valley

2019 Public Funds Forum Takeaways

Listing 2019 Public Funds Forum takeaways is not easy. First, the Forum is held under Chatham House Rule, so no direct quotes. Second, I was networking and collaborating on various projects, so was not there for every panel or speaker. Third, my 2019 public funds forum takeaways focus only on what was new to me, […]

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Rule 14a-8

Rule 14a-8 Process Defended

Rule 14a-8 process is defended by investors representing $525 billion in assets under management. Many thanks to US SIF for coordinating this vital effort. It is good to remind the SEC that their mission is to protect investors, not to protect companies from their investors. (more…)

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climate action 100+

Climate Action 100+ Trade Association Accountability

Climate Action 100+ calls for trade association accountability on climate change. 200 institutional investors with a combined $6.5 trillion in assets-under-management are calling on 47 of the largest US publicly traded corporations to align their climate lobbying with the goals of the Paris Agreement. Lobbying activities that are inconsistent with meeting climate goals are an investment […]

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Costco ESG Momentum

Costco ESG Momentum: Right to Remove Directors

Costco ESG momentum has improved. I submitted a shareholder proposal to help keep it on that path. The proposal would eliminate a corporate governance anomaly Costco has by virtue of being incorporated in the state of Washington, which allows articles of incorporation to provide that directors cannot be removed without cause by shareholders. (more…)

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Verbal No-Action Decisions - SEC Lost Its Head

Verbal No-Action Decisions Questioned

Verbal No-Action Decisions Slammed by Shareholder Rights Group Verbal no-action decisions by the SEC threaten the integrity of corporate governance. On September 6, the Securities and Exchange Commission issued a new policy providing for verbal no-action decisions that could significantly reduce transparency and accountability in the process of enforcement of the rules on shareholder proposals. […]

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Shareholders v Stakeholders

Shareholders v Stakeholders

Shareholders v Stakeholders is in the news again, driven by the Business Roundtable. Someone asked Quora: Regarding corporate social responsibility, do you agree more with the shareholder view or the stakeholder view theory? Below is my response with a few edits, after some additional thought. (more…)

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ICCR Letter to BRT

ICCR Letter to BRT on ESG Resolutions

Below is an ICCR letter to the BRT from Josh Zinner commending them on their recent acknowledgement of the value of stakeholders and asking them to reassess their opposition to shareholder resolutions. I have added a few links to the ICCR letter to the BRT. I look forward to hearing more from Josh today at the […]

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Mutual Fund Wars

Mutual Fund Wars Over Fees AND Proxy Votes

Mutual fund wars are fierce around pricing. What if competition was also fierce around proxy voting? Could that change the world? I certainly think so. My petition to the SEC could generate mutual fund wars around ensuring proxy votes align with investor values. (Rulemaking Petition for Real-Time Disclosure of Proxy Votes, SEC File 4-748, Jul. […]

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