Tag Archives | 3M

Gilead Sciences Proxy Voting Guide

Gilead Sciences (GILD), a biopharmaceutical company, discovers, develops, and commercializes therapeutics in the areas of unmet medical needs in the United States, Europe, and internationally. Most shareholders do not vote because reading through 80+ pages of the proxy is not worth the time for the small difference your vote will make. Below, I tell you how I voted and why. If you have read these posts related to my portfolio for the last 22 years and trust my judgment (or you don’t want to take the time to read my rationale), go immediately to see how I voted my ballot. Voting will take you only a minute or two and every vote counts.

The annual meeting is coming up on May 9 2018. I voted with the Board’s recommendations 61% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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3M Company Proxy Voting Guide

3M Company (MMM) operates as a diversified technology company worldwide. Most shareholders do not vote because reading through 80+ pages of the proxy is not worth the time for the small difference your vote will make. Below, I tell you how I voted and why. If you have read these posts related to my portfolio for the last 22 years and trust my judgment (or you don’t want to take the time to read my rationale), go immediately to see how I voted my ballot. Voting will take you only a minute or two and every vote counts.

The annual meeting is coming up on May 8, 2018. I voted with the Board’s recommendations 44% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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3M Proxy Voting Guide

3M Proxy Voting Guide from CorpGov3M Proxy Voting Guide provided by Corporate Governance (CorpGov.net). 3M (MMM), 3M Company operates as a diversified technology company worldwide and is one of the stocks in my portfolio. ProxyDemocracy.org had collected the votes of three fund families when I checked and voted. Their annual meeting is coming up on May 9, 2017.

I voted FOR lowering the special meeting threshold; AGAINST pay, compensation committee and other items. See how and why I voted all items below. I voted with the Board’s recommendations 47% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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MMM – 3M Co: Proxy Score 53

MMM 3M3M Co (NYSE:MMM, $MMM) operates as a diversified technology company worldwide. It is one of the stocks in my portfolio and I have a proposal on ‘special meetings’ up for a vote. The annual meeting is coming up on May 10, 2016. ProxyDemocracy.org had collected the votes of two fund families when I checked. Vote AGAINST pay, compensation committee, sock plan. FOR proposal to lower the threshold to call a special meeting and to remove share buybacks from the calculations determining CEO pay. I voted with the Board’s recommendations 53% of the time. View Proxy Statement. Continue Reading →

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3M Co (MMM): Proxy Score 58

3M3M Co (MMM), which operates as a diversified technology company worldwide, is one of the stocks in my portfolio. Their annual meeting is coming up on 5/12/2015. ProxyDemocracy.org had the vote of four funds when I checked and voted on 5/7/2015.  I voted with management 58% of the time and assigned 3M a proxy score of 58.

View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the 3M 2015 proxy in order to enhance corporate governance and long-term value. Continue Reading →

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How I Voted: 3M Co (MMM) – Proxy Score 47%

3M Co ($MMM) is one of the stocks in my portfolio. Their annual meeting is coming up on 5/14/2013. ProxyDemocracy.org had collected the votes of four funds when I checked on 5/6/2013.  I voted with management 47% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime) Continue Reading →

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How I Voted at Goldman Sachs & 3M

At Goldman Sachs I voted down the line with AFSCME, with the help of ProxyDemocracy.org: withholding my vote from four directors, voting against the auditor and voting for all the shareowner resolutions, except one. You might think from its title that “Report on Global Warming Science” would be a something positive. It is not. Unfortunately, because I waited so long, hoping to get more voting advice from CalPERS and others, I couldn’t vote my shares using MoxyVote.com, so used the Broadridge platform, ProxyVote.com.

Thanks to Evelyn Y. Davis for the proposal on Cumulative Voting; the Maryknoll Sisters of St. Dominic for the proposal Regarding Collateral in Over-the-Counter Derivatives Trading; Christian Brothers Investment Services to Separate Chair & CEO; Domini Social Investments for their proposal Regarding a Report on Political Contributions; the Benedictine Sisters of Mt. Angel Regarding a Report on Pay Disparity; and John Harrington for his proposal Regarding Executive Compensation and Long-Term Performance. It is a difficult time to own Goldman Sachs. They aren’t used to be a public company. With shareowner input, I’m sure they can become an asset to our economy and still make money both for the forgotten shareowners and management.

For much more on these resolutions and quotes from proponents, read Goldman Sachs Faces the Music: Five Major Shareholder Resolutions From Religious, Socially Responsible Investors Reflect Main Street Values Amidst Concerns About Wall Street Abuses.

At 3M I couldn’t find any voting advice from my usual sources. I voted mostly with management except I voted against Buckley, Coffman, Farrell and Peters based on concerns raised by The Corporate Library. In addition, I voted in favor of Nick Rossi’s proposal to amend the bylaws and each appropriate governing document to give holders of 10% of our outstanding common stock (or the lowest percentage allowed by law above 10%) the power to call a special shareowner meeting. Working with John Chevedden, I’ve submitted similar proposals at other companies and view such provisions as essential to ensuring adequate shareowner voice, especially in case of emergency. I voted using MoxyVote.com.

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