Tag Archives | proxy vote

AT&T Inc Proxy Voting Recommendation

AT&T Inc (T) provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. Most shareholders do not vote because reading through 70 pages of the proxy is not worth the time for the small difference your vote will make. Below, I tell you how I am voting 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 it), 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 April 27, 2018. I voted with the Board’s recommendations 35% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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General Electric Proxy Voting Recommendation

General Electric Company (GE), operates as a digital industrial company worldwide. It operates through Power, Renewable Energy, Oil & Gas, Aviation, Healthcare, Transportation, Lighting, and Capital segments. Most shareholders do not vote because reading through 70 pages of the proxy is not worth the time for the small difference your vote will make. Below, I tell you how I am voting 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 it), 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 April 25, 2018. I voted with the Board’s recommendations 48% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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Citigroup $C Proxy Voting Recommendation

Citigroup $C, a diversified financial services holding company, provides various financial products and services for consumers, corporations, governments, and institutions. Most shareholders do not vote because reading through 70 pages of the proxy is not worth the time for the small difference your vote will make. Below, I tell you how I am voting 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 it), 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 April 24th, 2018. I voted with the Board’s recommendations 52% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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Apple: CorpGov.net Proxy Vote

Apple Inc. (AAPL) designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

The annual meeting is coming up on February 13, 2018 at the new Apple Park. I voted with the Board’s recommendations 69% of the time. I voted against the pay package. I voted for proxy access amendments and for a human rights committee. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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Marrone Bio Innovations, Inc.: Proxy Vote

Marrone Bio Innovations, Inc. provides bio-based pest management and plant health products primarily for agricultural and water markets in the United States and internationally. Without changes, Marrone Bio is likely to continue to lag the Nasdaq, as it has done for the last one, two and five year time periods. While the Nasdaq has gone up over 100% in the last five years, Marrone Bio has gone down over 90%. Proxy access could make our board more directly accountable to shareholders.

The annual meeting that was supposed to be held in 2017 is set for January 31, 2018 in Davis, California. There is very little data available though my usual sources because Marrone Bio is such a small company. I voted with the Board’s recommendations 67% of the time. View Proxy Statement via SEC’s EDGAR system (look for DEF 14A). Continue Reading →

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FedEx: How I Voted – Proxy Score 38

FedExFedEx Corporation (NYSE:FDX) provides a portfolio of transportation, e-commerce and business services under the FedEx brand and is one of the stocks in my portfolio. Their next annual meeting is September 28, 2015. ProxyDemocracy.org had collected the votes of two funds when I checked and voted. I also picked up the votes of CalSTRS in my table below, since ProxyDemocracy doesn’t seem to be scraping their votes. I voted with the Board’s recommendations 38% of the time. View Proxy StatementContinue Reading →

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The Investment Association Statement of Principles

The Investment AssociationThe UK’s Investment Association’s Statement of Principles has now been signed by 25 firms with £1.8 trillion in assets. Does it represent substantial progress or is it simply an attempt to console the investing public? In principle, it all sounds good. I like their pledge:

As signatories to these principles we do our utmost to:

1. always put our clients’ interests first and ahead of our own  Continue Reading →

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Ocata Therapeutics: How I Voted – Proxy Score 37

Ocata TherapeuticsOcata Therapeutics Inc (NASD:OCAT), formerly Advanced Cell Technology, Inc. is a promising biotechnology company engaged in the development and commercialization of human pluripotent stem cell technology in the field of regenerative medicine. The company is one of the stocks in my portfolio, purchased about a year ago. Their next annual meeting is July 22, 2015. ProxyDemocracy.org had nothing on the company when I checked and voted on 7/16/2015. I voted with the Board’s recommendations 37.5% of the time and assigned them a proxy score of 37.5.

View Proxy Statement. Would it bust their budget to add a hyperlinked table of contents? Read Warnings below. What follows are my recommendations on how to vote the Ocata Therapeutics proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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CSP Inc. (CSPI): Proxy Score 89

CSPII am too busy to provide the usual analysis of the proxy at CSP Inc. (CSPI). Today is the last day to vote the CSPI proxy using the Internet. The most critical item on the CSPI proxy is my proposal to allow shareowners to nominate board members. Please vote in favor of proposal #5, proxy access.

Below is the text of the speech in favor of my proxy access proposal to be give at tomorrow’s annual CSPI meeting, followed by my voting recommendations:

Speaking in support of Proposal #5:

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Hain Celestial Group: Proxy Vote Score 14

Hain CelestialThe Hain Celestial Group, Inc. (NASD:HAIN), which manufactures, markets, distributes, and sells organic and natural products, is one of the stocks in my portfolio. Their annual meeting is coming up on 11/20/2014. ProxyDemocracy.org had collected the votes of two funds when I checked on 11/18/2014. Sorry for the late post. Today is the last day to vote online. I voted with management 14% of the time and assigned them a proxy score of 14.  View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the HAIN 2014 proxy in order to enhance corporate governance and long-term value.

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Research Design: Advance Proxy Vote Disclosers

P&I Proxy Voters Cartoon re fiduciary dutyAs I mentioned in yesterday’s post, Council of Institutional Investors Fall 2014 Conference: Meeting Availability, I’m encouraging a research project looking into the impact that funds announcing their proxy votes in advance have or can have. I’ve joined with Pensions&Investments in arguing funds have a fiduciary duty to make such advance proxy vote disclosures when that could influence the outcome. Now I want to see if that condition ever applies. Under what circumstances is advance disclosure likely to influence the outcome of corporate elections? Continue Reading →

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Equal Energy Sale – Proxy Vote 50

Andrew Shapiro on Equal Energy

Andrew Shapiro

Guest Post: Andrew Shapiro is Founder, President and Portfolio Manager of Lawndale Capital Management, an investment advisor that has managed activist hedge funds focused on small- and micro-cap companies for over 21 years, one of the longest periods of experience deploying an activist/relational investment strategy today.

The following is a press release from Lawndale. I am an investor on one of the affiliates. I’ve added votes disclosed on ProxyDemocracy and some observations from a recent GMIAnalyst report.   Continue Reading →

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CalPERS Urges Nabors to Exclude Broker Non-Votes

NBRCalPERS-logoCalPERS filed a notice of exempt solicitation (PX14A6G) and urged shareholders to vote for a proposal asking the company to amend their bylaws to exclude broker non-votes when tabulating proxy votes at the 2014 AGM of Nabors Industries (NBR). I don’t personally own stock in NBR but the issue is an important one, so it is good to see CalPERS raising it at this high visibility company. Continue Reading →

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Johnson & Johnson (JNJ) Responds to My Voting Advice

Guest Post from Douglas K. Chia, Assistant General Counsel & Corporate Secretary, Johnson & Johnson and formerly named a Rising Star of Corporate Governance by the Ira M. Millstein Center for Global Markets and Corporate Ownership. I wish a representative of every company would send such a thoughtful response to my voting advice. I’ve placed my response in italics.

Here are some points of clarification on your recent post, “How I Voted: Johnson & Johnson (JNJ) – Proxy Score – 76%” (April 23, 2013):

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CalSTRS Furthers ShareOwner Revolution With Announcement of Disney Vote

CalSTRS announced its vote at the March 6, 2013, Walt Disney Company annual shareholder meeting. CalSTRS voted against several directors and management proposals, and voted for shareholder proposals to allow proxy access and separate the CEO and chairman positions. What is significant about the announcement is that it went over each director candidate and issue on the ballot and not only disclosed how CalSTRS voted but why. Here’s the thrust of their press release. Continue Reading →

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Costco: How I Voted – Proxy Score 25%

Costco ($COST) is one of the stocks in my portfolio. Their annual meeting is coming up on 1/24/2013. ProxyDemocracy.org had collected the votes of four funds when I voted on 1/22/2012.  I voted with management only 25% of the time.  View Proxy Statement. Warning: Be sure to vote each item on the proxy. Any items left blank will be voted in favor of management’s recommendations. (See Don’t Let Companies Change Shareholders’ Blank Votes) Continue Reading →

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