Tag Archives | proxy votes

Broadridge No-Action Part 2

Broadridge No-Action Request Threatens Democracy

Broadridge No-Action Request Threatens Democracy Broadridge No-Action request threatens democracy, so it deserves a second post because of its critical importance. At an in-person meeting, everyone can easily see a show of hands when the moderator asks if anyone needs more time to vote. Not so at virtual shareholder meetings, which have quickly become the […]

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Agilent Technologies 2022

Agilent Technologies 2022 Proxy Votes

Agilent Technologies 2022 annual meeting is March 16, 2022, at 8:00 am Pacific. It is a virtual-only meeting on the Computershare platform. Of course, I recommend voting in advance, especially since they made it very difficult to vote at the meeting or even to enter the meeting. To enhance corporate governance and long-term value, vote Against the […]

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Don't Look Up on Netflix and Mr. Fink’s 2022 Letter

Mr. Fink’s 2022 Letter

Mr. Fink’s 2022 letter (link) repeatedly emphasizes the need for companies to have a clear “purpose,” a “north star,” that employees “understand and connect with,” as “your staunchest advocates.” How well does BlackRock do on that measure? BlackRock’s own purpose included in its articles of incorporations, “is to engage in any lawful act or activity for […]

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Facebook 2021 Proxy Votes

Facebook 2021 Proxy Votes

Facebook 2021 annual meeting is May 26, 10 AM Pacific Time. To attend, vote, and submit questions during the Annual Meeting visit here. You also need your control number. To enhance long-term value vote AGAINST Alford, Andreessen, Houston, Sandberg, Thiel, Zuckerberg Auditor, Pay, Director Compensation. Vote FOR Dual-Class Capital Structure, Independent Chair,  Address Child Exploitation, Human/Civil […]

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3D Systems 2021 Proxy Votes

3D Systems 2021 Proxy Votes

3D Systems 2021 annual meeting is May 18, 11 AM Pacific Time. To attend, vote, and submit questions during the Annual Meeting visit here. To participate, you will need the 16-digit control number provided on your proxy card or voting instruction form. Of course, I recommend voting in advance. To enhance long-term value. Vote AGAINST […]

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Mutual Fund Wars

Mutual Fund Wars Over Fees AND Proxy Votes

Mutual fund wars are fierce around pricing. What if competition was also fierce around proxy voting? Could that change the world? I certainly think so. My petition to the SEC could generate mutual fund wars around ensuring proxy votes align with investor values. (Rulemaking Petition for Real-Time Disclosure of Proxy Votes, SEC File 4-748, Jul. […]

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Big Three Index Funds - Bebchuk and Hirst

Big Three Index Funds: Bebchuk, Hirst and More

Lucian Bebchuk has given more thought to the issues surrounding the Big Three Index Funds than other researchers. He and Scott Hirst recently provide a “comprehensive theoretical, empirical, and policy analysis of index fund stewardship.” Reference also Strine: Big 4 Responsible to “Forced Capitalists,” as well as The Untenable Case for Keeping Investors in the Dark by […]

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2018 AFL-CIO Key Votes Survey

2018 AFL-CIO Key Votes Survey Input Wanted

An updated 2018 AFL-CIO Key Votes Survey form is now available for completion by investment managers. Please note that the previously announced vote at Amazon will not be included in the 2018 AFL-CIO Key Votes Survey as the proposal was withdrawn before the annual meeting. The survey form can be downloaded as an Adobe Acrobat […]

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Index to Promote Gender Diversity

SHE Index to Promote Gender Diversity

Index to Promote Gender Diversity: From the Press Release Index to Promote Gender Diversity announced by State Street Global Advisors (SSGA), the asset management business of State Street Corporation (NYSE: STT). Check out the SPDR® SSGA Gender Diversity Index ETF (Ticker: SHE). SHE seeks to track the performance of the SSGA Gender Diversity Index, which comprises […]

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Matt Illian

How RIAs Can Take the Lead on Corporate Governance

In his 1914 collection of essays called Other People’s Money and How the Bankers Use It, Louis Brandeis argued that powerful men such as J.P. Morgan leveraged unbalanced control of the public’s assets to their own benefit. One hundred years later, not much has changed. If Brandeis were alive today, you can be sure that he […]

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Shareholders holding up companies

Announcing Proxy Votes Improves Corporate Governance

Yesterday, I posted a recent letter to the editor of Pensions & Investments praising their editorial, Winning Over Proxy Voters, which argues that institutional investors have a fiduciary duty to announce their proxy votes in advance of annual meetings, if doing so is likely to influence voters. If institutional investors heed their call, it will speed […]

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Fiduciary Duty to Announce Votes (Part 3): Take Action

Fiduciary Duty to Announce Votes (Part 3): Take Action

This is the last in a three part series. See also Fiduciary Duty to Announce Votes (Part 1): Editorial Calls For Advanced Disclosure and Fiduciary Duty to Announce Votes (Part 2): Historical Background. Take Action: Ask your mutual fund, pension fund, and/or endowment to: Send you a copy of their proxy voting policies and their proxy […]

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Robert-AG-Monks

Fiduciary Duty to Announce Votes (Part 2): Historical Background

This is the second of a three part series. See also Fiduciary Duty to Announce Votes (Part 1): Editorial Calls For Advanced Disclosure and Fiduciary Duty to Announce Votes (Part 3): Take Action. A major landmark in establishing a fiduciary duty for proxy voting was the Department of Labor’s (DOL) 1988 Avon Letter, which was based on specific sections […]

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P&I Proxy Voters Cartoon re fiduciary duty

Fiduciary Duty to Announce Votes (Part 1): Editorial Calls For Advanced Disclosure

This is the first of a three part series. See also Fiduciary Duty to Announce Votes (Part 2): Historical Background and Fiduciary Duty to Announce Votes (Part 3): Take Action. A recent editorial in Pensions & Investments (P&I), Winning over proxy voters, essentially argues that pensions have a fiduciary duty to announce their proxy votes in advance of the annual […]

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SEBI's New Disclosure Guidelines for Mutual Funds

Guest post from Shriram Subramanian, founder of InGovern Research Services with the objective of facilitating shareholder activism by institutional investors and thereby enhancing corporate governance in India. Proxy Advisory Services, Corporate Governance Research, Risk Monitoring, and Proxy Services. India’s SEBI, through a circular dated March 24th, 2014, released a new set of disclosure guidelines to be followed by mutual funds. These […]

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Robert Monks: Obtaining Proxy Vote Information on 401(k) Plans Often Difficult

Robert Monks has just begun a series of articles at CSRwire on his most recent book, Citizens DisUnited: Passive Investors, Drone CEOs, and the Corporate Capture of the American Dream (my review). Part one of the CSRwire is A Simple Solution to Runaway Corporate Power. See also, Robert A.G. Monks, Crusading Against Corporate Excess, NYTimes, July 6th. His main message […]

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Proxy Votes Leaked for Cash & Gifts

According to the New York Post (Advisory firm employee leaking shareholder voting data, whistleblower claims, a “whistle-blower” complaint has been lodged with the SEC against a midlevel employee in ISS’s Boston office who “has been (more…)

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Mutual Funds Should Disclose Votes

On December 19, 2000 the AFL-CIO petitioned the Securities and Exchange Commission to require mutual funds to disclose how they are voting their shares. Currently, mutual funds aren’t required to disclose the principles they use when voting in corporate elections. Nor do they have to tell investors how they voted. Unlike pension funds, there isn’t […]

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