Why IBM Doesn’t Do (Direct) Political Contributions – The New York Times

In a New York Times interview, IBM CEO Arvind Krishna spoke about corporations taking political positions and making contributions. He does not discuss political involvement via groups like the Business Roundtable. IBM has a history of involving itself in difficult social and political issues, including being among the first companies to offer benefits to same-sex…

CEO Pay Packages Rose to $14.7 Million in 2021, a New High – WSJ

The median pay package for chief executives of the biggest U.S. companies reached $14.7 million in 2021, setting a sixth-straight annual record as strong profits and robust markets boosted performance measures. Total compensation rose by at least 12% for most of the executives, and most companies recorded annual shareholder returns of nearly 30%, according to…

Diversity Is Strength In The Corporate Boardroom

Dr. Charles Theuer writes in Forbes: A “Diversity on Boards” report issued in March 2022 by the California secretary of state found that 301 out of 716 impacted corporations had complied with AB 979 and 186 had complied with SB 826 in 2021. I am confident these numbers will continue to increase and not because…

Moderna’s new CFO departs in first week in job | Financial Times

Moderna’s new CFO left after three days, following announcement the his previous employer was being investigated for possible financial reporting improprieties. Nevertheless, he received a severance payment. VEA Vice Chair Nell Minow responded. Nell Minow, vice chair of ValueEdge Advisers, a firm that advises investors on corporate governance, said the episode represented an “outrageous” failure…

Shareholder Proposal at Home Depot on Political Spending Contrary to Stated Policies

A Home Depot shareholder proposal has been submitted to the SEC requesting that the company publishes a report, at least annually, “analyzing the congruence of political and electioneering expenditures during the preceding year against publicly stated company values and policies.” A proxy memo in support of the proposal from Tara Health Foundation cites data from…

AT&T Shareholder Resolution Calls Out PAC Spending ‘Incongruent’ With Stated Values Following Mass Donations to Anti-Democratic Lawmakers – Accountable.US

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…