I find most of Matt Levine‘s Money Stuff columns informative, rational, and often witty. Part of his October 1 piece, Default shareholder voting, is an exception. Levine defends the programs at ExxonMobil, Goldman Sachs, and Tesla that let retail investors have their shares voted with the board automatically, at every meeting, until they opt out. […]
Retail voting programs let shareholders choose only one standing instruction: vote with the board. Click below to hear our song about Tesla’s One Click One Way SEC-Approved Voting. One-Way Voting: a “convenience” that points in only one direction SEC staff issued a no-action letter clearing Tesla’s “Issuer Voluntary Retail Voting Program.” Retail holders who opt […]
ExxonMobil Director Accountability: What Wespath Benefits and Investments and Mercy Investment Services invite you to an urgent online briefing for investors and members of the press to learn about what is shaping up to be a highly consequential board election this spring as ExxonMobil ($XOM) investors seek a No Vote on two key Board members […]
Kenneth Steiner provides a review of his stockholder activism in 2019…. accomplishments so far this year and a preview of his 2020 proxy season. This follows Bill Steiner – Legacy Continues. (more…)
Money and Politics Get a Divorce. That would be a nice headline. It has been more than ten years since the US Supreme Court held that corporations could spend unlimited funds on election campaigns in their decision, Citizens United v. Federal Election Commission. Money and Politics Get a Divorce: Still Waiting Justice Kennedy’s majority opinion […]
Lobbying disclosure remains a top shareholder concern for the 2018 season, as evidenced by proposals filed at 50 companies by 74 institutional and individual investors. A coalition is asking for lobbying reports that include federal and state lobbying payments, payments to trade associations used for lobbying, and payments to any tax-exempt organization that writes and endorses […]
I don’t own ExxonMobil $XOM stock or the stock of any other oil companies, so won’t be examining their proxy when it comes out or making voting recommendations. However, oil companies do remain a potent economic force and won’t be going away anytime soon… even though folks like me hope to be driving around in electric […]
AFSCME and RAM Trust urge shareowners to rein in CEO Pay, implement governance improvements at their May 25 meeting. AFSCME and RAM Trust recommend: Against ratifying executive pay (Item 3) For One Year frequency of the advisory vote on compensation (Item 4) Adopt a policy that the XOM Board Chair be an independent (more…)
As the Gulf oil disaster focuses national attention on the huge environmental problems caused by corporate irresponsibility and the enormous tolls environmental impacts can have on shareholders, Green Century Capital Management (Green Century) shares a more positive story – shareholders are taking action to change the corporate course and advocate for improved corporate responsibility. According […]