As I indicated yesterday, I have been contacted by several reporters for comments on the latest screed from the Business Roundtable seeking to muzzle the rights of shareholders. Although I have much more productive ways to occupy my time, it does make sense for me to provide at least some response, since the Business Roundtable […]
Tag Archives | Manhattan Institute
Visa: Simple Majority – Win or Lose?
The Manhattan Institute‘s Proxy Monitor Project would call it another failure by gadfly shareholders, since Visa Inc. (V) filed a no-action request with the SEC and is very likely to receive the go-ahead to exclude our Simple Majority proposal from their proxy. If that happens, there is no way it will receive a majority vote […]
Hain Celestial Group: Win or Lose?
The Manhattan Institute‘s Proxy Monitor Project would call it another failure by a gadfly shareholder, since the Hain Celestial Group, Inc. (HAIN) filed for and obtained no-action relief with the SEC, allowing it to leave my proposal for a Majority Vote standard in uncontested elections off their proxy. There is no way it can now receive a majority vote from shareowners. […]
United Natural Foods (UNFI) Moves on Special Meeting Proposal
The Manhattan Institute‘s Proxy Monitor Project would call it another failure by gadfly shareholders, since United Natural Foods Inc. (UNFI) filed and was granted a no-action request by the SEC to exclude our proposal to allow shareowners with 15% of the outstanding UNFI shares to call a special meeting. Since the proposal cannot receive a majority vote from shareowners, the […]
Deal Professor Equates Filing Proxy Proposals with Terrorism
Most people don’t like their behavior criticized. CEOs and boards almost always fight my proxy proposals aimed at improving corporate governance. I wasn’t happy with the Deal Professor’s criticisms of my shareowner activism in his August 19th NYTimes article, Grappling With the Cost of Corporate Gadflies. He also criticizes John Chevedden and William Steiner. I stewed for days […]
Manhattan Institute on Shareholder Activism
I welcome the Manhattan Institute‘s Center for Legal Policy to the corporate governance debate. The Manhattan Institute launched its Proxy Monitor project. The ProxyMonitor.org database assembles information on the 150 largest corporations (by revenues, as ranked by Fortune magazine) and currently includes searchable and sortable information on every shareholder proposal submitted at each company from 2008 through August 1, […]