A very significant piece by one of the most respected and knowledgable experts on corporate governance, Leo Strine. In recent years, there has been a heartening improvement in the self-awareness of the major mutual fund families — BlackRock, Vanguard, State Street, and Fidelity (the “Big 4”) — that have Worker Investors’ capital. This Big 4…
Best Stocks: How ESG Investing Could Help in a Bear Market | Fortune
So-called ESG equity strategies—buying the stocks of companies that perform well on environmental, social-responsibility and governance (ESG) metrics—can help you align your portfolio with your ethical values. But can they also help you ride out a down market, or even a bear market, with fewer losses? It seems 2019 may be the year that investors…
The Investment That Cost Apple $9 Billion in 2018 – WSJ
VEA Vice Chair Nell Minow is quoted in this WSJ article about buybacks: Apple Inc. has lost more than $9 billion this year on an underperforming investment—its own stock.Like many large companies, Apple has used much of its windfall from the 2017 tax overhaul to buy back shares. But the recent plunge in stock prices…
On Governance: What Does the Near Future Hold for Proxy Advisors?
The Conference Board’s list of predictions about the outcome of the SEC’s proxy roundtable hearing looks more like a wish list than anything grounded in probability, with the exception of the comments by the Conference Board’s own Doug Chia: Governance Center Executive Director, Doug Chia observed coming out of the SEC roundtable, “What seemed to…
Report: Pensions in a Changing Climate
A new report from Share Action finds that pension funds are not doing an adequate job of disclosing climate risk in their portfolios. The most striking finding of our analysis reveals that over 60% of pension funds publish little or no information on their climate responses, placing them at risk of breaching their legal duties…
VEA Vice Chair Nell Minow Named As One of GPW’s 10 Most “Salutary” Corporate Governance Influences in 2018
We are delighted to announce that our Vice Chair, Nell Minow, has been named by Global Proxy Watch as one of the 10 most important influences on corporate governance in the world this year, along with VEA friends Sophie L’Helias, Christy Wood, and Cindy Fornelli.GPW says:Nell Minow eloquently called out the NAM campaign against shareowner interests through…
How Did an Auto CEO Keep his Illness a Secret From the Directors and Shareholders For a Year?
When someone becomes a CEO, he or she relinquishes the luxury of privacy, including regular updates to the board on health issues. If the CEO is important enough to be worth all of that money, then his or her health is a risk factor the board must be able to consider and plan for. The…
Amazon Employees Submit a Shareholder Proposal Demanding Action on Climate Change
In an effort nearly a year in the making, Amazon employees are taking a public stand. They want their company to reckon with what they believe to be the most pressing problem facing the world: climate change.A group of employee stockholders have signed their names to a resolution, which will be voted on at the…
Pension funds criticise asset managers over lax ESG approach | News | Local Government Chronicle
Local authority pension funds are reporting problems over their asset managers’ approach to environmental, social and governance (ESG) factors.The survey of Local Authority Pension Fund Forum (LAPFF) members, which comprise most of the sector, showed they were unlikely to recommend their asset managers based on the way ESG matters are handled.Some 45% said asset managers…
Goldman Board Goes On Female Hiring Spree, Leaves Old-Boy Era Behind – TheStreet
The boardroom of Goldman Sachs Group Inc. (GS) is finally catching up with the #metoo era.The Wall Street firm, historically man-heavy in its executive suite as well as among directors, said Thursday it had named former U.S. Navy Vice Admiral Jan Tighe to its board. Her appointment boosts the share of women on the board to four out of…
