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 …
Open MIC Announces Significant Shareholder Votes on Internet Privacy and Freedom of Speech
Investors in two major U.S. Internet Service Providers – CenturyTel, Inc. and EarthLink, Inc. – voted in substantial numbers in favor of a first-time shareholder resolution that highlighted the importance of Internet management practices and their impact on Internet privacy and freedom of expression. The resolutions, which were filed and voted on for the first time this year, attracted 30.49% of the vote at CenturyTel and 9.25% at EarthLink. Taken together, the votes mean that investors controlling stock worth more than $900 million voted in favor of the resolutions at the two companies. “This is the kind of vote that …
RiskMetrics calls Open MIC Internet Project "biggest new campaign in the human rights arena for the 2009 U.S. proxy season."
Risk Metrics Group (RMG), the nation’s largest and most influential proxy advisory firm, provides research to some of the world’s largest and most important financial institutions about the environmental and social issues shareholders raise in proxy statements. It’s guidance to large pension funds often determines the fate of shareholder proposals filed by Trillium Asset Management and our fellow shareholder activists. We were, therefore, very pleased when RMG recently wrote a lengthy piece on the Open MIC shareholder initiative describing it as the “biggest new campaign in the human rights arena for the 2009 U.S. proxy season.” The story discusses the …
Recent Comments