Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s 20,000 employees are based in more than 40 countries. Continue Reading →
We studied ‘corporate governance’ but never new its name until Bob Tricker defined the field. Discussions all over the world took on new meaning. Thirty years later, he is still in the vanguard of ensuring effective performance and social accountability, rooted in rigorous research. Governance is the defining issue of the 21st century and Bob Tricker our most knowledgeable teacher. – James McRitchie, CorpGov.net
James McRitchie, the publisher of Corporate Governance and one of three retail shareowners accused in the New York Times of holding Corporate America ‘hostage,’ will be in Colorado Springs November 8th through the 12th, attending the SRI Conference on Sustainable, Responsible, Impact Investing.
I am eager to meet with readers to discuss activist corporate governance strategies and how we can work together. Outlined below are some projects I’m working on. If you’d like to discuss any of them or other possible areas for cooperation, please contact me prior to the SRI conference. Additionally, I am always interested in guest posts. Reach out to thousands, especially our under-covered readers in Beijing and India. Continue Reading →
Here’s one of the most interesting proxy proposals I have seen so far during this new season. I wasn’t aware of similar resolutions filed by Zevin until recently notified by Timothy Smith. If BNY Mellon is a PRI signatory, why are they consistently voting against what PRI stands for? Let’s see more proposals like this. It is like calling out green-washers for polluting. Continue Reading →
“Green Investing” is the phrase I use to describe the process of aligning your investments with your values, social as well as environmental. Many people don’t know that they own companies in their mutual funds and retirement plans that conflict with their beliefs.
Financial advisors who specialize in this area use different terms to describe what we do: socially responsible investing, ethical investing, sustainable investing and many more. Whatever term we use, most of us would agree there are three key components of green investing: social screening, shareholder activism and community loans.
Broadridge Financial Solutions, Inc. (BR), which provides investor communications and technology-driven solutions for the financial services industry, is one of the stocks in my portfolio. Their annual meeting is coming up on 11/13/2014. ProxyDemocracy.org had collected the votes of two funds when I checked on 11/3/2014. I voted with management 80% of the time and assigned them a proxy score of 80. View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the Broadridge 2014 proxy in order to enhance corporate governance and long-term value. Continue Reading →
These videos are dated but still timely. On April 16th, 2012 Stanford’s Arthur and Toni Rembe Rock Center for Corporate Governance kicked off their Shareholder Activism Series with a discussion titled “Activist Investing: Background, Impact and the Players.” Continue Reading →
A recent paper [Miriam Schwartz-Ziv and Russ Wermers, Do Small and Large Shareholders Have a Say-on-Pay? (October 15, 2014) available at SSRN] investigates the voting patterns of shareholders on Say-On-Pay and finds that ‘small’ shareholders are more likely than large shareholders to use the non-binding Say-On-Pay vote to govern their companies, are more likely to vote for an annual Say-On-Pay vote, and are more likely to vote “against” Say-On-Pay (i.e., to vote against the pay package). Continue Reading →
Carl Gershenson - “Protecting Markets from Society: Non-Pecuniary Claims in American Corporate Democracy” forthcoming in Politics & Society looks at the role of the state as ‘market protector.’ Protecting us from inside trading, pump and dump schemes, policing market players? Yes, that may be the primary duty of agencies such as the SEC. However, Gershenson turns our attention to a very important secondary duty – “protecting the market from disruptive challengers so that corporations may operate as if markets were autonomous.”
As we have seen in The Rise and Fall of Homo Economicus: The Myth of the Rational Human and the Chaotic Reality and the Economics of Good and Evil: The Quest for Economic Meaning from Gilgamesh to Wall Street, people are not rational robots. Continue Reading →
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 machine.
The Manhattan Institute‘s Proxy Monitor Project would call it another failure by gadfly shareholders, since Visa Inc. (V) filed a no-action request with the SEC and is very likely to receive the go-ahead to exclude our Simple Majority proposal from their proxy. If that happens, there is no way it will receive a majority vote from shareowners. Therefore, the Proxy Monitor Project will count the proposal as a loss for shareowners and a waste of money for the corporation. Continue Reading →
Leaders from Osler and the Institute of Corporate Directors discuss the evolution of corporate governance and the release of Directors Responsibilities in Canada – a guide to understanding and fulfilling director responsibilities. Although written for Canada, it has general applicability worldwide.
After the video, I suggest a couple of additional books.
Symantec Corporation (NASD:SYMC), which provides security, backup, and availability solutions worldwide, is one of the stocks in my portfolio. Their annual meeting is coming up on 10/28/2014. ProxyDemocracy.org had collected the votes of three funds when I checked on 10/22/2014. I voted with management 55% of the time and assigned them a proxy score of 55. View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the Symantec 2014 proxy in order to enhance corporate governance and long-term value. Continue Reading →
Entrenched corporate elites may need to up their public opinion game. Robert Monks and Nell Minow are near the top of their attack list. (Shareholder crusaders Monks and Minow speak out) Having been sued several times for having the audacity to make recommendations to boards via shareowner proposals, I’m on there too. (see EMC v. John Chevedden and James McRitchie: Case Dismissed, as well as Deal Professor Equates Filing Proxy Proposals with Terrorism) Of course, proxy advisors, such as ISS and Glass Lewis are at the top for frequently advising clients to vote in favor of shareowner proposals and against those of management. Research now indicates, public opinion may be next. Continue Reading →
How will 2025 be different from today? What should you innovate, invent, create or build? What steps should you take today to position yourself and your company to flourish in tomorrow’s world? Those were some of the questions that were asked and at least somewhat answered on Tursday, October 16, 2014, as the Silicon Valley Directors Exchange (SVDX) and the Arthur and Toni Rembe Rock Center for Corporate Governance (Rock Center) sponsored a morning conversation with your directors, senior executives, academics and others in the corporate governance industrial complex. Continue Reading →