Corporate Governance Publisher’s Note: Yes, you’ll find many broken links in the material referenced below. After 5, 10 and 15 years, the internet moves on. Many of the organization’s linked have since gone under. We’re just glad to still be here, offering our readers a sense of the history we have shared. More about the WABAC […]
The rudimentary software Broadridge offers corporations for running virtual annual meetings disenfranchises shareowners. This was on display when Symantec Corp. hosted a virtual-only annual meeting with the software in September. It was again on display yesterday. There is an old saying that cautions “never smoke your own dope.” Broadridge didn’t heed that advice yesterday when […]
For almost a year, the United States Proxy Exchange (USPX) has spearheaded a shareowners response to the threat (and opportunity!) of virtual annual meetings. The immediate concern has been corporations hosting virtual-only annual meetings without shareowner-approved guidelines or safeguards to ensure all participants’ rights are upheld. When intel announced plans to hold a virtual-only meeting, […]
As reported earlier (See Protesting Symantec’s All-Virtual Annual Meeting, 22 Sep, 2010) Symantec Corporation set the pathetic precedent of being the first Fortune 500 company to hold a virtual-only annual meeting without shareowner-approved safeguards to protect participant rights. That happened September 20, 2010. But two weeks later, Symantec has backed down. Responding to a letter writing […]
At last, there have been a couple of articles in the national press on the Symantec Corp. virtual-only meeting. First, Ross Kerber reported for Reuters, Shareholder meetings via Web mute dissident voices (9/24/2010) Kerber observed, Soon movies might be the only place to hear pointed outbursts from investors. This year more than a dozen companies […]
Steven Towns, writing for Seeking Alpha (Questioning Symantec’s ‘Virtual’ Shareholder Meetings, 9/20/2010) joined CII, CalSTRS, CalPERS, USPX and others in objecting to an all virtual meeting held buy Symantec. This follows up on Ted Allen’s September 16, 2010 article for RiskMetrics, Investors Object to Symantec’s Virtual Annual Meeting, my post of September 7, 2010 (also […]
In July 2000 we reported reaction to Delaware’s new law which allows corporations to hold shareholder meetings solely in cyberspace. Karen Hampton of Ford said webcasting of meetings will increase. Charles Elson, of the Center for Corporate Governance at the University of Delaware, indicated he likes to “see people eye-to-eye. Yet the world is changing.” […]
Shocker! More Companies Holding Virtual-Only Shareholder Meetings, I just dug out a good half-dozen companies that have conducted all-virtual annual meetings this year that I didn’t know about. Sign up for September program, Holding the Virtual Annual Meeting: Factors to Consider and Practice Pointers. (theCorporateCounsel.net/Blog, 7/8/10) Reminder: Shareholder Forum’s open meeting on July 13, 2010. […]
Gary Lutin’s Shareholder Forum is putting together an impressive panel of luminaries to help consider proposed standards for judging the fairness of communications associated with voting at shareholder meetings, assuring a shareholder’s right to: (a) present questions and views to a company’s managers and to other shareholders, (b) observe the presentation of other shareholders’ questions […]
From a IntelOurPublicStatementRegardingVirtualMeeting: “In the fall of 2009 Intel indicated it was going to attempt an experiment and hold its’ 2010 stockholders meeting entirely on the web, moving from a physical annual meeting to a virtual meeting. A number of shareholders expressed support for the expansion of the annual meeting via the web, but voiced […]