I'm working with a group through the United States Proxy Exchange that is fed up with the increasing proportion of corporate profit going to top execs. We are also concerned with the "Lake Woebegone" effect in that every board thinks their CEO is above average. Since all CEOs are above average every year, the average keeps rising.
Niels - In may not be an issue the Coalition agrees with but no harm in asking. - We're still working on the blank vote issue. If you get a chance, I would certainly appreciate any comments you might have on http://www.shareowners.org/forum/topics/blank-votes Thanks. -- Jim
We should talk about our mutual interests through shareowners and your coalitions. You may know John Wilcox who is a board member and has a strong interest in shareholder communications communications. I will follow up with an email.
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. Broker voting is when no proxy is delivered. The blank vote issue is when a shareowner votes at least one item but leaves others blank... all the blanks go to management.
Please also keep http://www.corpgov.net/news/news.html in mind when you have a quick commentary on corporate governance that you would like to get out to those in the field.
Comment Wall (4 comments)
You need to be a member of ShareOwners.org to add comments!
Join ShareOwners.org
I'm working with a group through the United States Proxy Exchange that is fed up with the increasing proportion of corporate profit going to top execs. We are also concerned with the "Lake Woebegone" effect in that every board thinks their CEO is above average. Since all CEOs are above average every year, the average keeps rising.
I would very much appreciate your feedback on draft guidelines we have posted at http://proxyexchange.org/2011/05/request-for-comments-say-on-pay/
If you post your comments in the "Leave a Reply" box we will consider them next week when we meet near Boston. Thanks.
We should talk about our mutual interests through shareowners and your coalitions. You may know John Wilcox who is a board member and has a strong interest in shareholder communications communications. I will follow up with an email.
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. Broker voting is when no proxy is delivered. The blank vote issue is when a shareowner votes at least one item but leaves others blank... all the blanks go to management.
See http://www.corpgov.net/news/news.html#BlankVotes Your involvement could really help move the initiative forward.
Please also keep http://www.corpgov.net/news/news.html in mind when you have a quick commentary on corporate governance that you would like to get out to those in the field.