An AT&T Inc. shareholder resolution has been recently submitted criticizing the company’s “politically focused expenditures” that “appear to be misaligned with its public statements on Company values, views, and operational practices.” The resolution – which the AT&T Board of Directors “unanimously recommends” shareholders vote against during a May 19th shareholder meeting – cites research from…
Inflation is being blamed on politics and supply chain shortages, but many companies are using this oportunity to raise prices and CEO compensation. From Accountable.US: The 2021 Consumer Price Index (CPI) showed that overall, prices on common goods and services increased by 7% from December 2020 to December 2021. Unfortunately, more recent CPI data suggests this pattern will continue….
Abortion Debate Puts Corporate Initiatives in the Spotlight – WSJ
VEA Vice Chair Nell Minow is quoted in a WSJ story about pressure on corporations to respond to a potential SCOTUS ruling on abortion rights, following a leak of a draft opinion overturning Roe v. Wade. “Corporates are in the crosshairs here; it’s very difficult and they have to navigate this very carefully,” said Nell…
Dark Money from the US Now Polluting the UK
Investigative reporting by Open Democracy found that a Koch-funded dark money organization has now extended its reach to the UK. Shadow climate secretary Ed Miliband said: “US right-wing groups with links to big oil are desperate to stop action against the climate crisis. Now they are trying to extend their reach into UK political debate.”…
Caterpillar Endorses As You Sow Climate Proposal
Caterpillar has recommended a vote in favor of the shareholder proposal on climate disclosures submitted by As You Sow. Resolved: Shareholders request that Caterpillar issue a report within a year, and annually thereafter, at reasonable expense and excluding confidential information, disclosing interim and long term greenhouse gas targets aligned with the Paris Agreement’s goal of maintaining…
Is Elon Musk Inching Away From Twitter
When Twitter’s board abruptly changed its tune on his offer to buy the company — from poison pill to LFG!! — bankers surmised what had happened. Goldman Sachs, on behalf of Twitter, had gone out and asked every other potential buyer it could think of to swoop in and make a better deal — and…
Agenda – ‘Big Bounce Back’ in Raises for CEOs Seen in Early Proxies
In the least surprising announcement of the week, we find that CEO bonuses are up again. Our favorite line in this Agenda piece is this one: “Compensation committees allowed for wide berth in setting incentive goals due to uncertainty related to the pandemic.” Translation: why should pay be tied to performance when the world is…
GOP Pushes to Outlaw Divestment
Once again, we see those who love to rhapsodize about the purity of the free markets working to disrupt and distort the free market with subsidies. Donald Shaw of The Lever reports on political initiatives to make divestment of fossil fuel companies illegal. Republican state and federal lawmakers, their campaign coffers filled with fossil fuel…
Anthem, Eli Lilly, Walmart and more quietly funnel millions to national group behind regressive state laws — Popular Information
A political group supported by Walmart, Eli Lilly, Anthem, and other major corporations is behind the new avalanche of repressive laws. As usual, these initiatives are contrary to the corporations’ express statements of encouragement for women, minorities, and the LGBTQIA communities. Republican state legislators across the country have embraced an aggressively regressive agenda, targeting the…
U.S. regulator sues Brazilian miner Vale over ‘false and misleading’ dam claims | Reuters
The U.S. Securities and Exchange Commission (SEC) on Thursday sued Brazilian miner Vale SA (VALE3.SA) for allegedly making false and misleading disclosures about the safety of its dams ahead of a 2019 disaster that killed 270 people.Beginning in 2016, Vale manipulated dam safety audits, obtained fraudulent stability certificates and misled local governments, communities and investors…
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