Shareholders Protect Right to File Resolutions, Lose on Rights for Director Nominations
Late last month, the Securities and Exchange Commission (SEC) closed an opening that had given investors a little more power to nominate directors at publicly traded companies. At issue is whether investors can nominate directors to appear on the company’s proxy ballots mailed out to all shareholders. Shareholders have the right to send out nominations on their own competing proxy ballots, but the costs and logistics of doing so are so onerous that this almost never happens, so advocates for shareholder rights have long sought rules granting them access to nominate directors on the company proxy. Those advocates won a …
SEC Proposals Threaten Shareholders Rights To File Resolutions
2007 By Shelley Alpern The cicada is a locust-like insect that emerges from a long hibernation every umpteen years to create an incessant buzzing on some areas of the East Coast. Equally annoying in death as in life, when spent, cicadas drop from trees en masse, littering once-pleasant lawns and parks with piles of crunchy carcasses.Ten years ago, the Securities and Exchange Commission (SEC) floated proposals for public comment that, if implemented, would have drastically curtailed shareholder rights. Like a cicada, the critics of the shareholder resolution process have resurfaced with different but equally dismaying ideas. In 1997, the story …
URGENT ACTION ALERT! Shareholders' Right to File Proxy Resolutions in Jeopardy
The Securities and Exchange Commission (SEC) has floated for public comment two proposals with dire ramifications for socially concerned investors. 2007 The Securities and Exchange Commission (SEC) has floated for public comment two proposals with dire ramifications for socially concerned investors. Our very right to file non-binding shareholder resolutions may be handed off to the discretion of individual companies, instead of being protected by federal rules as it is now. WHAT’S AT STAKE: Shareholders could lose their unique rights to place resolutions on the proxy ballot. Shareholder resolutions made a key contribution to the high-impact campaigns to end apartheid in …
American Express – Sustainability Reporting (2007)
WHEREAS Investors increasingly seek disclosure of companies’ environmental and social practices in the belief that they impact shareholder value. Many investors believe companies that are good employers, environmental stewards, and corporate citizens are more likely to generate incremental financial returns, be more stable during turbulent economic and political conditions, and enjoy long-term business success. Sustainability refers to endeavors that meet present needs without impairing the ability of future generations to meet their own needs. According to Dow Jones, “Corporate Sustainability is a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental, and …
Time Warner – Media Public Interest Obligations (2003 – 2004)
2003-2004 Final Vote: Withdrawn …
Yum! Brands – Prepare a Sustainability Report to Shareholders (2003 – 2004)
Company: Yum! Brands Corporation Final Vote: 32.9% Year: 2003-2004 …
YUM! Brands – Prepare a Sustainability Report (2002 – 2003)
Sustainability Report to Shareholders – 2003 Whereas the global economy presents corporations with the challenge of creating sustainable business relationships by participating in the sustainable development of communities in which they operate. The World Commission on Environment and Development defined sustainable development as “development which meets the needs of the present without compromising the ability of future generations to meet their own needs.” (Our Common Future, 1987) We believe the ability of corporations to continue to provide goods/services in our interdependent world depends on their acceptability to the societies where they do business. Good corporate citizenship goes beyond the traditional …
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