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 […]
James McRitchie, the publisher of Corporate Governance and one of three retail shareowners accused in the New York Times of holding Corporate America ‘hostage,’ will be in Los Angeles September 29 through October 1 attending the Council of Institutional Investors Fall 2014 Conference. I am eager to meet with readers to discuss activist corporate governance […]
When a company moves its shareholder meeting to a remote location, it is often associated with bad news, according to Evasive Shareholder Meetings (NBER Working Paper No. 19991) by Yuanzhi Li and David Yermack. The study finds that “companies are more likely to announce unfavorable quarterly earnings in the aftermath of long-distance meetings, and these […]
As reported by CSRwire, Under Fire from Critics, Chevron CEO Quietly Moves Annual Shareholder Meeting to Remote Town In Texas. We are still in the midst of our second Foxhole of the Year Award for the company that makes it the most difficult for shareowners turn up at their annual meeting. Last year’s winner was Peabody Energy for their choice of […]
Announcing the second Foxhole of the Year Award for the company that makes it the most difficult for shareowners turn up at their annual meeting. Last year’s winner was Peabody Energy for their choice of Gillette, Wyoming, a town with less than 30,000 residents. Nominations are now being accepted for 2014. Yuanzhi Li and David Yermack studied the location […]
Wow, talk about holding a shareowner’s meeting in a foxhole; that’s not deep enough for Stillwater Mining (SWC)! Hat tip to Donna Anderson who wrote to say she got a kick out of our “foxhole” award when she saw it on Twitter. I guess I missed the deadline for nominations, but I have another doozy […]
I was recently reminded of my commitment earlier this year to make a Foxhole of the Year Award for the company that makes it the most difficult for shareowners turn up at their annual meeting. Sorry to be late but it is great to know that readers are paying attention and holding me to my word. Thanks […]
Corporate Governance was founded in 1995 and we have never run a contest… until now. Announcing the Foxhole of the Year Award for the company that makes it the most difficult for shareowners turn up at their annual meeting. Our first nomination came from John Chevedden for FirstEnergy (NYSE:FE). According to the $17 billion company: […]
Shareowner activist John Chevedden suggested the first nomination for a company avoiding its owners this proxy season. (more…)