On one hand, the concentration of share ownership has addressed some of the issues connected to the separation of ownership and control. On the other hand, there are still intermediaries between the beneficial holders and the companies whose stock is held on their behalf. This is all the more reason for a strong, enforceable fiduciary…
Vote-No Campaigns: Foreboding or Fizzled? — Agenda
Fed up with what they say is board inaction, investors launched high-profile campaigns this proxy season against the reelection of board members at companies including Amazon, Chevron, Meta Platforms, Twitter and Wendy’s. Additionally, companies including Activision Blizzard face vote-no campaigns in upcoming meetings.Though the campaigns so far had little impact on average support levels for…
AMC Holders Rejection of CEO Adam Aron’s $19 Million Pay – Bloomberg
AMC Entertainment Holdings Inc. shareholders rejected the company’s proposed executive pay plan at its annual meeting Thursday, a rare rebuke of a management team that collected tens of millions of dollars last year.The vote was advisory, meaning the company isn’t obligated to change its executive remuneration plans. … Two of the most prominent proxy advisers,…
Starbucks Just Had a Corporate Governance Meltdown. Your Board Should Take Note | Inc.com
On Monday, Howard Schultz, Starbucks’ chairman (and former U.S. presidential candidate), told The Wall Street Journal that the company wasn’t considering any internal candidates for its next CEO appointment. Think about that for a second. Of the many thousands of managers and executives in the company — and the tens of millions of dollars the…
CalPERS, CalSTRS Criticized for Voting No on Big Oil Shareholder Climate Resolutions | Common Dreams
A report released today from Fossil Free California reveals that California’s public pensions voted to oppose climate action at major fossil fuel companies and financiers during the 2022 Annual General Meeting season. This exposé comes two weeks ahead of an Assembly Committee hearing on SB 1173, a bill that would require the funds to divest from fossil…
Tennessee plans to boycott banks, financial institutions that divest from fossil fuels | WPLN News
Financial institutions wanting to take climate action may no longer be able to do business with the state of Tennessee.Last week, the Tennessee General Assembly passed a bill that prevents the state from working with banks or financial institutions that won’t work with fossil fuel companies — with an exception for when the state is…
Executive Excess 2022 – Institute for Policy Studies
We examined compensation over the past year at the 300 publicly held U.S. corporations that had the lowest median wages in 2020. The CEO-worker pay gap at low-wage corporations grew even wider in 2021. At 106 of the 300 firms we studied, median worker pay did not keep pace with inflation. The average gap between…
Comment from Securities Law Professors on SEC’s Climate Disclosure Proposal
A group of distinguished securities law professors have submitted a comment to the SEC on the proposed rule that would require additional disclosures about climate change. Some highlights [footnotes omitted]: —The Commission’s disclosure authority extends not just to information relevant to investor trading decisions but also to information used by investors in connection with the…
Nell Minow’s Comment to the SEC on Proposed Climate Change Disclosure Rule
VEA Vice Chair Nell Minow has submitted a comment to the SEC on File No. S7-10-22, Proposal on Climate-Related Disclosures for Investors. The full comment is attached below. An excerpt: Government regulation is most needed when there are collective choice issues or conflicts of interest. Both are the case when it comes to corporate disclosures….
File a Comment with the SEC on Climate Change Disclosure
The deadline for filing comments with the SEC on their proposed climate change disclosure rule is June 17, 2022. The comment does not have to be technical or use legal language. All you need to do is send an email to rule-comments@sec.gov with this in the subject line: Release No. 33-11042; File No. S7-10-22 And…
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