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 governance, ensuring that index funds and the companies they influence are “controlled by the individual human investors who make up its (their) constituents.” (p. 3) Continue Reading →
Tag Archives | retirement
Deep in the heart of Texas, the oil industry is still going strong. Take Navitas Midstream, a private corporation that specializes in transporting fossil fuels. Navitas is currently laying a pipeline that, when completed later this year, will funnel natural gas fracked from the Eagle Ford Shale into a processing plant that’s also under construction. Called the “La Bahia System,” the pipeline and plant will handle 120 million cubic feet of natural gas per day. La Bahia is part of a labyrinth of fossil fuel infrastructure that’s growing and will generate billions in profits for its owners — even with the current slump in oil prices. But it also is fueling the fracking boom and climate change. Continue Reading →
A new nationwide public opinion research report finds that an overwhelming majority of Americans – 86 percent – believe that the nation faces a retirement crisis. Nearly 75 percent of Americans are concerned about their ability to achieve a secure retirement, and support for steady and reliable retirement income from a pension is high and growing. Some 82 percent say a pension is worth having because it provides steady income that won’t run out, while 67 percent indicate that they would be willing to take less in salary increases in exchange for guaranteed income in retirement. Continue Reading →
Retirement is big business in America, but is the system costing workers and retirees more than what they’re getting in return, asks FRONTLINE correspondent Martin Smith. I thought the program was so good, I wanted to be able to access it from my site for future use.
Half of employers in the UK don’t offer a pension to their employees. Auto-enrolment, the opt-out defined-contribution system designed to fill this gap, was introduced in the UK on October 1. Top1000Funds.com interviewed Lawrence Churchill who chairs he government-funded pension fund, NEST, one of the funds on offer, during the first day of the rest of the fund’s life. (Feathering NEST, 10/10/2012) Continue Reading →
XBRL US announced the 2nd annual XBRL Challenge, a contest to discover the top open source analytical tools that can mine XBRL-formatted corporate financial data from the SEC’s EDGAR database. $20,000 will be awarded to the top two teams, individuals or organizations that submit the most useful and user-friendly application that conducts innovative analysis of public companies. The XBRL Challenge is sponsored by the American Institute of Certified Public Accountants (AICPA), the CFA Institute, and WRDS (Wharton Research Data Service). Continue Reading →
Some scribbles from the recent LA Trustees Round Up. I was more focused on reporting the first day on governance issues. I took far fewer notes on the second day but they may still be of some interest to CorpGov.net readers. There were several additional inspirational speakers. I mostly listened and didn’t Continue Reading →
Hank Kim, Executive Director and Counsel for the National Conference on Public Employee Retirement Systems (NCPERS), has unveiled a proposal for a new type of retirement plan. To those who think CalPERS and other pensions for public employees should be abandoned, the proposal offers an alternative. See Retirement Security for All.