Huffington Post: Bank of America Targeted By Protesters and Investors
Prior to Bank of America’s annual shareholder meeting, The Huffington Post has been reporting on Trillium’s shareholder resolution that calls on the company to adopt a policy prohibiting the use of corporate funds for any political election or campaign. “In recent years, significant percentages of shareholders at some large companies have voted to require their firms to provide increased disclosure about the extent of their political donations, although none of these resolutions have passed to date. And Trillium views its more aggressive proposal to get BofA to end all political spending as intimately connected with a campaign pressuring the SEC …
Trillium Asset Management Solicits Shareholder Support for “No Political Spending” Proposals at Bank of America, 3M
As the annual stockholder meetings of 3M and Bank of America approach next week, Trillium Asset Management has reached out to shareholders seeking their support for our shareholder proposals at the two companies. The proposals call upon the companies to cease making all types of political contributions, both directly and indirectly through third-party vehicles. Read the full press release here. …
Trillium Withdraws Three Shareholder Resolutions Related to Corporate Political Spending
Boston, MA — March 21, 2012. Trillium Asset Management, LLC (“Trillium”) is pleased to announce the withdrawal of three 2012 shareholder resolutions related to corporate political spending. Trillium has recently withdrawn resolutions filed with Chubb Corp. (NYSE – CB), State Street Corp. (NYSE – STT) and Halliburton Company (NYSE – HAL) after the companies committed to make improvement in their transparency and accountability in their corporate spending on political activities. “As long-term investors, Trillium is concerned that gaps in transparency and accountability expose companies to reputational and business risks that could threaten long-term shareholder value. Publicly available data does not …
Matt Patsky Testifies on “Citizens United” at MA State House
On February 28, 2012, Trillium’s CEO, Matt Patsky, testified before the Massachusetts Joint Committee on the Judiciary in support of Senate Bill No. 772. The bill calls upon the United States Congress to propose an amendment to the U.S. Constitution reversing the Supreme Court’s 2010 Citizens United v. FEC decision. “Citizens United allows corporations to use their enormous wealth to drown out the voices of the American people, and it allows them to do so anonymously”, Mr. Patsky said in his testimony. “The lack of transparency and oversight in corporate political activity encourages behavior that puts corporations and its shareholders …
On 2nd Anniversary of Citizens United, Trillium, Green Century Capital Management & Advocacy Groups Launch Drive to Stem Corporate Political Spending
On the second anniversary of the Citizens United Supreme Court decision, Trillium Asset Management, LLC and Green Century Capital Management announce that they have filed shareholder resolutions at three companies, Bank of America, 3M & Target Corporation, urging them to refrain from making political donations in the future. This is the first time institutional shareholders have asked corporations to entirely refrain from political spending. Read more here …
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