Tag Archives | Jackie Cook

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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Sustainability at Morningstar

Sustainability at Morningstar

Sustainability at Morningstar (Morningstar Investment Conference #MICUS) in Chicago was an important topic, growing in popularity. As posted, their research found “72% of the United States population expressed at least a moderate interest in sustainable investing.” Nice to know many value a habitable planet as well as profits. However, research from Morningstar also finds we […]

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We Three Kings - Caleb Griffin

We Three Kings: Sharetopia

We Three Kings: Disintermediating Voting at the Index Fund Giants (download at SSRN) by Caleb N. Griffin provides insight as to how investors could influence the Big Three index funds — BlackRock, Vanguard and State Street, as those funds exercise increasing power over the economy. Like me, Griffin is interested in extending democracy to corporate […]

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Proxy Voting Alignment

Proxy Voting Alignment Will Drive Index Fund Competition

Proxy voting alignment with client values will drive competition between index funds. Most index funds have low fees and earn close to the same rate of return for their investors. How can they differentiate themselves? SEC Commissioner Rob Jackson Jr. implies competition should be driven, at least in part, by funds aligning their proxy votes with […]

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American Values

Internet Will Drive Public Opinion and Proxy Voting to Reflect American Values

American values were recognized as at risk in 1932 when Adolf Berle and Gardiner Means argued that with dispersed shareholders, ownership has been separated from their control. (The Modern Corporation and Private Property) Ironically, concentration of equities under the umbrella of three or four indexed funds presents an opportunity to end that divide and make companies […]

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Overpai CEOs

The 100 Most Overpaid CEOs: Take Action

The 100 Most Overpaid CEOs: Are Fund Managers Asleep at the Wheel? is the second such report from As You Sow in two years. I hope it continues as an annual tradition. I urge everyone to read it. Rosanna Landis Weaver, Jackie Cook and others contributing to this project did a great job. As Nell Minow said of […]

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Two More Proxy Season Reviews

Two more reviews of the 2013 proxy season came out the other day. The quickest read is from Jackie Cook at CookESG (Proxy Season Roundup: Shareholder Resolutions) who analyzed 502 shareholder-sponsored resolutions voted between July 2012 and June 2013. Two-thirds are governance-related, averaging 41% support. One-third address social and environmental issues, with an average 21% level […]

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1,788 Upcoming Annual Meetings in May

Operating as CookESG Research, Jackie Cook specializes in securities-related corporate disclosure analysis, particularly with respect to environmental and governance issues. We’ve updated our handy list of upcoming annual general meetings thanks to CookESG Research. (more…)

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How Mutual Funds Voted on Political Disclosures

As we look back on the 2012 elections one thing is clear, money flowed like water with any barrier that might have contained it removed by Citizens United. Writing for the court in the 5-4 decision, Judge Kennedy opined: With the advent of the Internet, prompt disclosure of expenditures can provide shareholders and citizens with the information needed […]

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Corporate Governance Quick Bites

Holly Gregory’s post Applying Securities Laws to Social Media Communications is the best I’ve seen on when the SEC’s Enforcement Division is likely to recommend an enforcement case to the Commission based on the potential for liability arising from disclosures by corporate officers through social media. As widely reported, including by WSJ, Netflix and CEO Reed Hastings both received Wells Notices from […]

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Upcoming Shareowner Meetings

Powered by Jackie Cook’s Fund Votes, a handy list of upcoming meetings. Research voting guidelines at FundVotes, how respected funds and advocates have voted at Proxy Democracy and MoxyVote. Vote proxies using Moxy Vote’s (more…)

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Bogle Spinning in His Grave: Vanguard, a "Pay Enabler"

No, he isn’t dead but he might as well be as far as his ability to influence Vanguard, the giant mutual fund he founded. John Bogle wants funds to introduce resolutions at companies requiring a 75% shareowner vote in order to make political contributions. Yet, Vanguard has never introduced a single shareowner resolution anywhere that […]

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