Tag Archives | CEO pay

Premiere Global Services, PGI: Proxy Vote Score 40

PGIPremiere Global Services, $PGI, is one of the stocks in my portfolio. Their annual meeting is June 17, 2014. ProxyDemocracy.org had collected the votes of three funds when I checked and voted on 6/11/2014.  I voted with the board’s recommendations 40% of the time, thus assigned a proxy score of 40.  View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the PGI proxy in order to enhance PGI’s corporate governance and long-term value.   Continue Reading →

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DaVita HealthCare Partners, DVA: Proxy Vote

DaVitaDaVita HealthCare Partners $DVA, is one of the stocks in my portfolio. Their annual meeting is June 17, 2014. ProxyDemocracy.org had collected the votes of three funds when I checked and voted on 6/10/2014.  I voted with management 50% of the time.  View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the DVA proxy in order to enhance corporate governance and long-term value.   Continue Reading →

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Union Pacific Corporation (UNP): How I Voted – Proxy Score 53

UNPUnion Pacific Corporation $UNP, is one of the stocks in my portfolio. Their annual meeting is coming up on 5/15/2014. ProxyDemocracy.org had collected the votes of three funds when I checked and voted on 5/9/2014.  I voted with management 53% of the time.  View Proxy Statement.

Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime)

I generally vote against pay packages where NEOs were paid above median in the previous year but make exceptions if warranted. According to Bebchuk, Lucian A. and Grinstein, Yaniv (The Growth of Executive Pay), aggregate compensation by public companies to NEOs increased from 5 percent of earnings in 1993-1995 to about 10 percent in 2001-2003. Continue Reading →

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eBay (EBAY): How I Voted – Proxy Score 50

ebayeBay $EBAY, is one of the stocks in my portfolio. Their annual meeting is coming up on 5/13/2014. ProxyDemocracy.org had collected the votes of two funds when I checked and voted on 5/7/2014.  I voted with management 50% of the time.  View Proxy Statement.

Warning: Be sure to vote each item on the proxy. Any items left blank are voted in favor of management’s recommendations. (See Broken Windows & Proxy Vote Rigging – Both Invite More Serious Crime) Continue Reading →

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Video Friday: SEBI vs Companies Act, 2013

SebiI don’t follow corporate governance in India as much as I would like but this video explains some recent reforms too important to ignore.

To exhort listed companies and their top executives to follow ‘good business practices’, regulator Sebi cleared new corporate governance norms that require them to justify CEO salaries, put in place whistle-blower policies and have orderly succession plans.  Continue Reading →

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Take Action: Comments on SEC Pay Ratio Rulemaking Due December 2

I-Want-Your-OpinionLast week the SEC finally proposed rules to require public companies to disclose the pay ratio between their CEO and their employees, as mandated by Dodd-Frank. Companies would have to disclose the ratio between CEO compensation and the median pay of their employees. Update: Comments due December 2nd.

As reported by the WSJ,  the ratio of “average” pay jumped from 51.6 in 1981 to 319.7 in 2011, according to data compiled by Kevin Murphy of the University of Southern California. The AFL-CIO sampled S&P 500 firms and claims the ratio went from 42 in 1980 to 380.

In response to complaints from multinationals that tallying pay for workers around the globe would be prohibitively expensive, the SEC’s draft largely leaves estimating and sampling methodology up to individual companies. Continue Reading →

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