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Virtual Meeting Problems Highlighted by CII

Virtual Meeting Problems Highlighted by CII

Virtual meeting problems were highlighted in this excerpt from CII’s Weekly Governance Alert Vol 25, Issue 17 | April 30, 2020 by Rosemary Lally. I am reproducing below in order to ensure it gets wider distribution. Virtual meetings, in my experience, have been more problematic when hosted by Computershare than Broadridge but I have had […]

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Bill Steiner at Olin AGM

Bill Steiner – Legacy Continues

Bill Steiner Had Huge Impact Bill Steiner would have seen the 2020 proxy season as a busy and exciting one for individual shareholder activists. While the SEC considers changes (your comments can still have impact, even if submitted late) to reduce the influence of shareholders, so called “gadflies”  continue to demonstrate leadership, effectiveness and ability […]

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Predatory Value Extraction

Predatory Value Extraction

Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored (Kindle/Hardcover), by William Lazonick and Jang-Sup Shin, chronicles how agency theory and ‘maximizing shareholder value’ (MSV) led to looting of publicly traded companies. As many of us sit home waiting out the COVID-19 pandemic, […]

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Bristol-Myers Squibb 2020

Bristol-Myers Squibb 2020

Bristol-Myers Squibb 2020 annual virtual meeting portal opens at 6:50AM Pacific time on May 5, 2020. To vote or ask questions, you will need your 16-digit control number. To enhance long-term value at BMY: Vote AGAINST Arduini, Emmens, Paliwal, Storch, Vousden, Pay, Auditor. Vote FOR Independent Chair, Shareholder Right to Act by Written Consent. VOTE! List of […]

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Kimberly-Clark 2020 facemask

Kimberly-Clark 2020 Proxy Votes

Kimberly-Clark 2020 annual meeting is 4/29/2020 at 7AM Pacific. To enhance long-term value: Vote AGAINST Bru, Decherd, Auditor. Vote FOR Shareholder Right to Act by Written Consent. Warning: Instructions for attending the meeting will be posted at https://investor.kimberly-clark.com. If you hold your shares through a broker, bank or other intermediary, and want to vote your […]

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IBM 2020: Removal Only For Cause

IBM 2020: Removal Only “For Cause”

IBM 2020 annual meeting is 4/28/2020, 7AM Pacific. To attend the virtual Annual Meeting, please visit: www.meetingcenter.io/244134877.  To vote at the meeting, login with your unique 15-digit control number. To enhance long-term value: Vote AGAINST Michael L. Eskew, Andrew N. Liveris, Alex Gorsky, Martha E. Pollack, Joseph R. Swedish, Virginia M. Rometty, Sidney Taurel, Auditor, […]

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COVID-19 Scapegoat

COVID-19 Scapegoat at AGMs: AT&T Bans Phones

COVID-19 Scapegoat: AT&T Fears Virus Through Phone Lines? COVID-19 scapegoat – instant rationale for poor treatment of shareholder and proposal proponents at 2020 meetings. Like the President, they claim all the power but absolve themselves of any blame. AT&T (T) holds its annual general meeting (AGM) on Friday, April 24th. List of all virtual meetings kept by […]

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Kellogg 2020

Kellogg 2020 Proxy Votes

Kellogg 2020 annual meeting is 4/24/2020. To enhance long-term value: Vote AGAINST Steve Cahillane, Richard Dreiling, Exec Compensation, and Auditor. Vote FOR Employee Stock Ownership Plan, Declassify Board and Simply Majority Vote Standard. Warning: Don’t skip this vote. The affirmative vote of holders representing at least two-thirds of the voting power of outstanding common stock […]

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Kokkinis and Sergaki

Kokkinis and Sergakis: Employee Participation in UK Companies – Lessons for US

Kokkinis and Sergakis – A Flexible Model for Efficient Employee Participation in UK Companies by Andreas Kokkinis & Konstantinos Sergakis, 17 Feb 2020 (download), provides several insights that may be helpful in guiding US efforts as well. As mentioned in my coverage of the recent SHARE Summit, #SHARE2020, I am investing in public companies with employee ownership. […]

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Skadden Scheme exposed by Phil Goldstein

Skadden Scheme Exposed by Phil Goldstein

Skadden Scheme to Kill Shareholder Rights Skadden scheme exposed by Phil Goldstein, of Bulldog Investors, threatens to kill shareholder rights. While we were fighting COVID-19 and new rules proposed by the SEC to eviscerate shareholder rights Skadden, Arps, Slate, Meagher & Flom LLP has been plotting to effectively do away with the right of shareholders […]

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SEC Staff COVID-19 Guidance

SEC Staff COVID-19 Guidance

SEC Staff COVID-19 Guidance was announced, probably at least in part, driven by a Rule14a-8 Coronavirus Letter Marh 11 pdf from the ICCR, US SIF and the Shareholder Rights Group. Guidance discusses virtual meetings, updating the time, date or location of a stockholder meeting and eliminates the federal securities law requirement that such change require […]

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Current Holdings 2020 adds BP

Current Holdings 2020

I have updated my current holdings 2020 of investments. This is not a list of companies with the best environmental, social, and governance practices. Although, if you know where these companies fall short, I would appreciate it if you would drop me a line so that I can advocate for reform or perhaps drop my investments, as […]

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Investing in Employee Ownership

Investing in Employee Ownership: More from SHARE2020

Investing in employee ownership could be a smart strategy for individual investors and would certainly be good for society. As I mentioned recently, I was delighted to see investing in employee ownership as a major topic of discussion at the recent SHARE Summit 2020 in Vancouver. At that conference, Ted Howard outlined principles for a […]

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SHARE Summit 2020

SHARE Summit 2020

SHARE Summit 2020 was a first for me. I had never attended a conference put on by Canada’s Shareholder Association for Research and Education. I encourage Americans to learn from our northern neighbors. Next year’s Summit will be in Toronto, so may be more accsssible to most readers than this year’s in Vancouver. (more…)

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Apple 2020 AGM Proxy Vote

Apple 2020 Proxy

Apple 2020 annual meeting is 2/26/2020. To enhance long-term shareholder value, vote AGAINST Al Gore (1C);  Art Levinson (1E); Ron Sugar (1F), pay and the auditor. Vote FOR shareholder proposals #4 Proxy Access Amendments; #5 Report Link Pay to Sustainability; and #6 Report on Freedom of Expression.  (more…)

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GPW Blowback

GPW Highlights SEC Blowback

GPW (Global Proxy Watch) discussed selected comments from investors to the SEC concerning two proposed rules in an article entitled Blowback, reproduced below with permission. GPW normally runs two pages, summarzing weekly developments on governance and stewardship from Stephen Davis and Aaron Bernstein. Blowback took almost a page. (more…)

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File No. S7-22-19 SEC Release

File No. S7-22-19: My Deadline Comments

File No. S7-22-19, SEC proposed rules based on input from entrenched corporate managers and boards, would cripple proxy advisory services. File No. S7-22-19 would not protect investors, as is the mission of the SEC. Proxy advisors survey their customers each year asking them how they stand on various issues. Then they research thousands of proxies on […]

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SEC Release S7-23-19 Comments Due Today

SEC Release Comments Due Today

SEC Release File No. S7-23-19 comments are due today. This Release and that of File No. S7-22-19 are the most dangerous I have seen during my twenty-five years of blogging. Both would make corporations less accountable to their owners and the public. Both would help turn corporate governance into a more democratic-free zone. Thousands of comments opposing […]

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Defending Retail Shareholder Advocates

Defending Retail Shareholder Advocates

Defending Retail Shareholder Advocates: Another Day – Another Comment Letter to the SEC Help protect shareholder rights. See SEC Rulemaking Comment Tips. Read any good comment letters on SEC File No. S7-22-19 or S7-22-19? Please let me know in comment form below or by email. Defending retail shareholder advocates will require lot more than the […]

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File No. S7-23-19: By the Numbers - Source ISS

File No. S7-23-19 by the Questions

File No. S7-23-19 would set draconian requirements to submit and to resubmit shareholder proposals based on the desire of entrenched managements and boards to thwart accountability and to create democratic-free zones around corporate governance.

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Malek & other members of The Dwight Hall Socially Responsible Investment Fund

MALEK: Working From Within

MALEK: Working from within, is an op-ed that appeared the Yale Daily News, on January 13, 2020. Gabriel Malek makes critically important points that need to be heard, especially by students but also by CorpGov.net readers who want to work with them. Malek’s key message: While students fight for divestment, also fight for shareholder engagement and […]

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Costco 2020 Proxy

Costco 2020 Proxy: How I Voted

Costco 2020 annual meeting is January 22nd. To enhance long-term value: Vote AGAINST Charles T. Munger, Auditor, and “True Diversity” Board Policy; FOR Director Removal Without Cause. Unfortunately, the meeting is virtual-only, instead of hybrid, so shareholders cannot meet each other, the directors or management. The board/management can also screen out any comments or criticisms. (more…)

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Sock Puppets for Proxy Advisory Rule

Sock Puppets for Proxy Advisory Rule

Sock puppets are trying to generate another round of astro-turf comment letters to the SEC. Proxy advisors do NOT file shareholder proposals. Your money is NOT being stolen to pay for abortions. Shareholder proposals are nonbinding and do NOT give money to anyone. This YouTube video is full of lies made up by fake organizations […]

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YourStake @SRI30

YourStake.org at SRI30 Conference

YourStake.org had one of the most crowded booths at the #SRI30 Conference last November. Maybe it was the cardboard box draped with an old Halloween costume around a computer and printer that drew people in. Maybe it was product. The center of attention looked a  like a homemade video arcade to me. Every time I walked […]

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Professional Athletes at SRI30

Professional Athletes at SRI30

Professional Athletes at #SRI30 were touted as the “next wave of impact.” I was delighted to learn from a panel of retired professional athletes about their second careers… giving back to the community. I am not a big sports fan but most Americans are. This panel presented a great opportunity for many the SRI community […]

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SEC Rulemaking Comment Tips

SEC Rulemaking Comment Tips

SEC Rulemaking Comment Tips: Action Needed SEC rulemaking comment tips repeated here are primarily based on advice from the Council of Institutional Investors. However, I am also including tips from the Sustainable, Responsible and Impact Investing, conference I attended in Colorado Springs in November. (Search #SRI30 for other Conference tidbits at CorpGov.net and on Twitter.) […]

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