Trillium Co-files Shareholder Proposal at Whole Foods Markets
October 14, 2009 — Trillium Asset Management Corporation has joined the union conglomerate Change to Win and Hermes, the British investment company, in filing a binding bylaw proposal at Whole Foods Markets (NASDAQ: WFMI). The bylaw change would mandate that the Chair of the Board of directors be “independent” of the company, which would exclude any current employees such as the current Whole Foods Board Chair and CEO, John Mackey. Mackey, the founder of Whole Foods, has been a controversial leader. His pseudonymous internet postings denigrating the Wild Oats grocery chain, later acquired by Whole Foods, led the Federal Trade …
Sigma Designs, Inc.
1778 McCarthy Boulevard Milpitas, CA 95035 United States Phone: 408-262-9003 www.sigmadesigns.com Sigma Designs, Inc. (NASDAQ-SIGM) is a fabless provider of integrated system-on-chip solutions used to “power the digital media generation.” The stock is a play on the shift toward higher quality, consumer-centric, digital video technology. Several trends favors Sigma’s products including the shift from analog to digital TV, increasing demand for HDTV and Internet enabled television content, video conferencing, and centralized home energy management systems. Sigma is a first mover and market share leader in the IPTV (Internet Protocol TV) market with 75 percent share. Telephone carriers such as Verizon …
2009 Shareholder Advocacy At-A-Glance
Since Investing For A Better World is a quarterly publication, we lack the space to write about all of our advocacy initiatives in depth. But at the end of each proxy season, we attempt to give them all their due at least graphically! Elsewhere on this site, you’ll find the text of every shareholder resolution that we sponsor (and co-sponsor, in which we take a lesser role). Lead Files AT&T Omitted Internet privacy & freedom of expression CenturyTel 30.5% Internet privacy & freedom of expression Chevron 7% Strengthen global environmental standards ConocoPhillips 30.5% Report on impact of tar sands Dominion …
ABB, Ltd.
P.O. Box 8131 Affolternstrasse 44 Zurich, 8050 Switzerland Phone: +41-43-317-7111 www.abb.com Efficient power transmission is essential as we move toward a more sustainable energy economy. ABB Ltd (NYSE-ABB) is the global leader in electricity transmission, focused on greener, smarter, more cost-efficient power infrastructure. The potential for efficiency gains between power production and consumption is believed to be 80 percent, and ABB invests heavily in R&D to create next generation energy technologies. Innovative products and strong project execution position the company to benefit from several long term trends: renewable energy transmission, an aging infrastructure replacement cycle, and international growth. Revenues are …
Dear Reader
Clients have been asking us why we still own major banks in light of their tarnished reputation in the aftermath of the financial crisis. As emotionally satisfying as it might be to avoid the largest banks, we believe that they play an extremely important role in our economy. We would rather work for prudent bank and financial system regulation than avoid them completely. Last September, as housing prices fell and the value of billions of dollars of mortgage-related securities plummeted, the U.S. was at the brink of worldwide financial disaster. This is not hyperbole. Consumers, manufacturers, company executives, bankers, stock …
Indecent Exposure
Over the past year, the chemical bisphenol A (BPA) has received increasing scrutiny from consumers, scientists, regulators, the media and investors. You may have heard about it when Canada declared it unsafe. Or maybe when the water bottle manufacturer Nalgene (a brand of Thermo Fisher Scientific), announced it was phasing out its use of BPA. Or when Connecticut Attorney General Richard Blumenthal announced his office would investigate allegations that companies are using “fear tactics, political manipulation and misleading marketing” reminisent of Big Tobacco to fight regulation of BPA. Perhaps it was when California announced it might follow Connecticut, Minnesota, the …
The (R)evolution Will Be Computerized: Web 2.0 Technologies Will Make “Shareholder Democracy” a Reality
Just as doctors at dinner parties hear about fellow guests’ medical dilemmas, people tend to confess to me that they throw out their shareholder proxy ballots. They’re too jargon-filled and arcane, and who’s got the time to evaluate whether the auditor is a good choice or whether a shareholder resolution is as preposterous and costly as management says it is? Besides, they only own 50 shares of the company. Estimates range widely, but all agree that the vast majority of individual investors regularly toss their ballots into the circular file. Economists call this “rational apathy,” but while it may be …
UN Report on Fiduciary Responsibility Released; Sr. Analyst Jonas Kron Acknowledged for Contribution
The United Nations Environment Program Finance Initiative (UNEP-FI) just issued its follow up report to the ground breaking “Freshfields Report.” “Fiduciary Responsibility: Legal and Practical Aspects of Integrating Environmental, Social and Governance Issues Into Institutional Investment” is intended to provide tangible recommendations to fiduciaries and give them a legal roadmap with which to achieve their commitment to responsible investment. The report acknowledges the contribution’s of Trillium Asset Management Corporation Senior Analyst Jonas Kron. The report is another important step in encouraging the integration of environmental, social and governance (ESG) issues into institutional investment and management decisions. We are proud of our …
Climate Change Shareholder Resolution Wins Majority at Idacorp
In a precedent setting victory, a shareholder resolution filed by Trillium Asset Management Corporation (“Trillium”), As You Sow, and Calvert that asked Idaho Power to establish greenhouse gas emissions reduction targets received 52% of the vote. This is the first time a climate change resolution has received a majority vote — the first majority vote recorded for a climate change shareholder proposal. In response to the vote, Idaho Power CEO LaMont Keen said that the company took this message seriously, and would work to meet the resolution’s request for a report by September 30th. The resolution received the endorsement of the Idaho …
Strategic View: Should We Wish for High or Low Gas Prices?
While it’s easy to blame paltry U.S. gas taxes on auto executives and the craven politicians who work for them, in fact low gas prices are wildly popular in the United States, particularly among the poorer half of the income distribution. What we environmentalists often have missed in the debate over policy is the pressure felt by struggling U.S. families teetering over a frayed social safety net. Gas taxes are extremely regressive, meaning the poorer you are, the higher the percentage of your income that is affected. Energy costs eat up 15 percent of the poorest households’ income, compared to …
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