ProxyDemocracy News

Activists Set to Drill Oil Companies [energytribune.com]

2010-06-17T11:23:17-04:00

The tide has shifted with respect to how much thought mainstream investors are giving to environmental, social, and corporate governance issues. Michael Passoff of the shareholder advocacy group As You Sow says, "Nothing comes close to the support we're getting now."

Majority Rules [fool.com]

2010-06-17T11:12:01-04:00

The methods by which some companies elect their board members wouldn't be amiss in a shady dictatorship. But one important change to corporate bylaws could make such dealings history.

'What Can It Hurt?' [ajc.com]

2010-06-17T10:59:31-04:00

Corporate opposition to votes on executive compensation could be moot as lawmakers in Washington work on legislation that could make the ballot items mandatory at all publicly traded companies’ annual meetings.

Vanguard CEO Explains Votes [money.cnn.com]

2010-06-10T11:49:58-04:00

Bill McNabb, chief executive officer of Vanguard Group, gets quizzed on the mutual fund company's voting record in an interview that cites ProxyDemocracy data. See his answer to the question: "Is Vanguard being as activist on behalf of its investors as it should be?"

Caterpillar Resolutions Fall Short [reuters.com]

2010-06-10T11:47:36-04:00

Three stockholder-backed proposals were defeated at Caterpillar Inc.'s annual meeting. The items would have split the job of chairman and chief executive; reviewed whether Caterpillar's products are used in ways that violate human rights: and permitted special shareholder meetings if just 10 percent of shareowners sought one.

Abercrombie Incentive Plan Rejected [online.wsj.com]

2010-06-10T11:37:45-04:00

Abercrombie & Fitch Co. shareholders signaled their dissatisfaction with teen retailer's pay practices by defeating a long-term incentive plan and narrowly reelecting a member of the board's compensation committee.

Genzyme, Icahn Strike Accord [boston.com]

2010-06-10T11:31:38-04:00

Genzyme Corp. headed off a proxy battle set to be waged at its annual shareholder meeting next week. The biotechnology company has struck a deal with activist shareholder Carl C. Icahn that gives him two seats on Genzyme’s board.

What Needs to Happen to Fix Pay [blogs.wsj.com]

2010-06-10T11:26:57-04:00

Despite nearly two years of outrage, pay czars and congressional hearings, Wall Street hasn’t changed how it pays employees. If something new is going to happen, shareholders will have to exercise their power in say-on-pay votes.

'No Confidence' Vote for Fund [marketwatch.com]

2010-06-07T12:25:43-04:00

A closed-end mutual fund run by DWS Investments recently ran a slate of board members for reelection. While the incumbents won less than half of the votes cast, they still managed to keep their seats.

Connecticut Takes Active Role [hartfordbusiness.com]

2010-06-07T12:14:41-04:00

In an interview, Connecticut State Treasurer Denise Nappier discusses her activist stance on corporate governance, including a challenge of the management of Massey Energy Co.

How Shareholders Can Make a Difference

2010-06-01T09:21:42-04:00

"Shareholders are fed up about corporate excesses," shareholder activist Laura Berry writes. "But they aren't waiting for Congress to make changes." She praises ProxyDemocracy as an excellent site for researching the issues on corporate ballots.

Shareholder Proposals at ExxonMobil

2010-05-24T10:15:49-04:00

Shareholders of ExxonMobil Corp. will vote on eight resolutions concerning the environment, human rights and diversity.

Massey Directors Narrowly Prevail

2010-05-19T05:55:53-04:00

Massey Energy Co.’s slate of three directors was narrowly reelected in a shareholders' vote.

Funds Seek to Shed 'Rubber Stamp' Tag

2010-05-17T15:16:32-04:00

"Investor activists say they are finally getting some support from the $12 trillion mutual fund industry, huge shareholders long scorned as rubber stamps for the management of companies whose shares they own," Reuters reports.

Pensions to Withhold Votes From Massey Directors

2010-05-14T14:41:30-04:00

After the tragedy at Massey Energy Co.'s Upper Big Branch coal mine in West Virginia, pension funds are calling on shareowners to withhold votes from three candidates for the company’s board of directors.

Investors Make Voice Heard on Pay

2010-05-11T09:34:51-04:00

"Investor rebukes of executive-pay practices last week at Motorola Inc. and Occidental Petroleum Corp. mark a significant shift in the relationship between corporate boards and shareholders," Erin White reports in the Wall Street Journal.

Key Issue: Sustainability Reporting

2010-04-19T12:06:41-04:00

ProxyDemocracy concludes our series on social and environmental issues appearing on proxy ballots with this article on sustainability reporting. The coverage was provided by the Sustainable Investments Institute.

Key Issue: Labor Rights

2010-04-16T11:25:34-04:00

ProxyDemocracy continues its coverage of social and environmental issues appearing on proxy ballots in 2010 with this installment on labor rights. More than 30 resolutions have been introduced this year on matters such as sweatshop labor and the disparity in pay between executives and lower-wage workers. The series was produced by the Sustainable Investments Institute.

Pay Disparity at Goldman Sachs

2010-04-15T11:04:06-04:00

Lance E. Lindblom and Laura Shaffer of the Nathan Cummings Foundation argue in the New York Times that huge paychecks for top corporate executives are out of whack with reality -- especially at Goldman Sachs Group Inc.

Key Issue: Industrialized Food Production

2010-04-14T17:05:19-04:00

As part of ProxyDemocracy’s series on social and environmental issues in the 2010 voting season, we examine industrialized food production. The Sustainable Investments Institute (SI2), a research center based in Washington, produced the series.