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From Zero to 32.73 at Bank of America

First, a correction. In my last post about the 2011 proxy season, I wrote that shareholder resolutions requiring disclosure of grassroots political spending brought by AFSCME to Prudential and Bank of America had met with zero support. That is incorrect.

ProxyMonitor reported the zero vote tally because the votes had not yet been cast. The two… Continue

Posted on May 16, 2011 at 3:59pm

2011 Proxy Season: Social Investment at the Threshold

Ernst & Young estimates in a new publication [pdf] that half of all shareholder proposals in 2011 will deal with environmental and social issues, and support for these proposals is growing. In fact, “83 percent of investors now believe environmental and social factors can have a significant impact on shareholder value over the long…

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Posted on May 5, 2011 at 11:00am

Citizen Investors and Citizens United

Home Depot’s Spring 2011 proxy report will include a proposal seeking shareholders’ say on political spending done by the corporation. This proposal is the first of its kind. Chances are it will not be the last.

If shareholders approve the resolution, where and how Home Depot funnels money into the political process and influences elections will be subject to shareholder… Continue

Posted on April 12, 2011 at 11:00am

3 Big Reasons Why Boards (Say They) Don’t Back Human Rights Proposals

Last week the Manhattan Institute launched ProxyMonitor, a site tracking shareholder proposals submitted to publicly traded companies via the annual proxy process. Right now, the site is limited to proposals made to Fortune 100 companies. Data goes back three years, to 2008. The site already offers some great features, including links to SEC filings around each proposal as well as the ability to filter and sort search results and export them to… Continue

Posted on April 5, 2011 at 9:30am

A Brief for Mr. Kleisterlee

Last week, Vodafone Group announced that Gerard Kleisterlee would replace outgoing Chairman of the Board Sir John Bond. This should be welcome news for shareholders. The Ontario Teacher’s Pension Plan, which led a vote against Bond at last year’s Annual General Meeting, protested that the… Continue

Posted on February 10, 2011 at 5:00pm

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At 9:09pm on July 2, 2009, James McRitchie said…: Ms. Kennedy, great to see your involvement in this new project. Hopefully, efforts like shareowners.org, Investor Suffrage Movement & Proxy Democracy, will really help retail shareowners and beneficial owners to get involved. I hope you will help spread the word through your blog and elsewhere.

I hope you will also consider sending a comment to the SEC supporting our petition to prevent blank votes by retail shareowners from automatically turning into votes for management. No, it is not the same as broker voting.

See http://www.corpgov.net/news/news.html#BlankVotes Your involvement could really help move the initiative forward. I'd like to ensure it is at least on the table with the proxy “plumbing” issues.