Dell

Dell's annual meeting is coming up on July 17th. I see on Proxy Democracy that CalSTRS is withholding votes on all directors, voting against ratifying the auditor, and favors both shareowner proposals:

1. Reimburse Proxy Contest Expenses (AFSCME)
2. Reduce Supermajority Vote Requirement (my proposal)

Supermajority requirements are most often used to block initiatives supported by shareowners but opposed by management, such as entrenchment. Eight of our directors use “Accelerated Vesting” of stock options to avoid recognizing related costs. Additionally, we have no shareowner right to: An independent Board Chairman or To call a special meeting by 10% of shareowners.

Vote along with CalSTRS to send a clear message. (Disclosure: The publisher of CorpGov.net owns shares in Dell. Unfortunately, they're not worth much now.)