Tag Archives | pay

Procter & Gamble Company (PG): Proxy Score 44

P&GProcter & Gamble Company (PG), which manufactures and sells branded consumer packaged goods, is one of the stocks in my portfolio. Their annual meeting is coming up on 10/14/2014. ProxyDemocracy.org had collected the votes of three funds when I checked on 9/20/2014.  I voted with management 44% of the time and assigned them a proxy score of 44.  View Proxy Statement. Read Warnings below. What follows are my recommendations on how to vote the Proctor & Gamble 2014 proxy in order to enhance corporate governance and long-term value. Continue Reading →

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Video Friday: Coca-Cola Needs an Independent Chair

KOThe Coca-Cola Company recently announced it would change its equity compensation plan, bowing to pressure from Wintergreen Advisers and other investors who saw the plan as harmful to Coca-Cola shareholders.

With its announcement, Coca-Cola finally conceded that the equity compensation plan it put to a vote of shareholders in April was outrageously excessive and inconsistent with past plans. This has been Wintergreen Advisers’ publicly expressed view since we first read Coca-Cola’s proxy statement in March of this year. Continue Reading →

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Video: Heads or Tails? The Art and Science of Executive Compensation

SVDXAll directors are keenly aware of their responsibility in setting executive and CEO compensation. Increased external pressure on — and opinions about — CEO pay and more crowded meeting agendas limit the available time for meaningful discussion and make this role more challenging than ever. The stakes in getting executive compensation right are high, with real opportunities to engage leadership and drive business results, but also with real risks of poor outcomes. Continue Reading →

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Heads Or Tails? The Art And Science Of Executive Compensation

SVDXI thought the title of the program referred to heads I win, tails you lose. Now, I’m thinking ‘art’ is one side of the compensation committee coin, ‘science’ the other. Titles that keep us on our toes – just like the programs held by the Silicon Valley Directors Exchange and the Rock Center for Corporate Governance at Stanford Law. The stakes in getting executive compensation right are high, with real opportunities to engage leadership and drive business results, but also with real risks of poor outcomes. As advertized: Continue Reading →

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CtW Urges Shareowners Vote Against Pay at McDonalds

McDonaldsOn 5-7-2014, CtW Investment Group filed a notice of exempt solicitation, urging shareholders to vote against company’s say-on-pay proposal at the 2014 annual meeting. CtW said that the compensation committee failed to modify its executive pay practices. Instead, its practices provided elevated pay even when performance declined. CtW is also concerned about declining financial and operating performance. $MCD’s share price trailed the S&P 500 by 45% in last five years and revenue, gross profits and operating income has been stagnant since 2010. The company also failed to address the growing public concern of strikes and protests by the food service employees even after it was acknowledged by the board that concern over income inequality poses a risk to its business. Continue Reading →

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Reeds Inc. (REED): The Case for Proxy Access & How I Voted

ReedsIn mid-July I e-mailed investor relations at Reeds Inc. $REEDGojiGinger_Kombucha (IR@reedsinc.com) asking if REED had a classified board or plurality requirements for director elections. Can shareowners call a special meeting or act by written consent? What supermajority requirements are in place re M&A or other actions? No response. This surprised and disappointed me since they were prompt in answering previous e-mails: Make kombucha; we’re already working on it. Try one with coconut water and ginger; good idea. Where can I find Reeds Kombucha in Sacramento?; here’s a list.

According to FactSet Research Systems, “insider/stake ownership” at REED is 33.5% of the company’s float. Being almost a controlled company, maybe they don’t feel the need to respond to inquiries from ‘outside’ shareowners about the firm’s corporate governance.  They not only didn’t answer me, they blocked me from following their Twitter feed. Maybe management and the current board think the less outside shareowners know, the better for them? Continue Reading →

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NextEra Energy, Inc. $NEE: Proxy Score 69

NextEra Energy, Inc. (NEE) is one of the stocks in my portfolio. Their annual meeting is coming up on 5/23/2013. ProxyDemocracy.org had collected the votes of three funds when I checked on 5/16/2013.  I voted with management 69% 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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How I Voted: Union Pacific Corporation (UNP) – Proxy Score 56

Union Pacific Corporation ($UNP) is one of the stocks in my portfolioTheir annual meeting is coming up on 5/16/2013. ProxyDemocracy.org had collected the votes of three funds when I checked on 5/13/2013.  I voted with management 56% 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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How I Voted: Dow Chemical Company (DOW) – Proxy Score 69%

Dow Chemical Company ($DOW) is one of the stocks in my portfolio. Their annual meeting is coming up on 5/9/2013. ProxyDemocracy.org had collected the votes of two funds when I checked on 5/3/2013.  I voted with management 69% 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)
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