Fiduciary Blind Spot: The Failure of Institutional Investors to Prevent the Illegitimate Use of Working Americans’ Savings for Corporate Political Spending by Leo E. Strine :: SSRN

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…

The Corporate Donors Behind a Republican Power Grab – The New York Times

David Leonhardt writes about the corporations behind the unprecedented undermining of democracy in Wisconsin, including Walgreens. Walgreens portrays itself as the friendly neighborhood drugstore. It gives flu shots to children, helps communities after storms, donates to charity — and makes feel-good advertisements trumpeting its various good deeds. But Walgreens also has a tougher side, one…

Origin Energy hit by protest vote over industry lobby groups | afr.com

Origin Energy has responded to investor pressure and will in future fully disclose its membership of industry organisations and where their policies differ to its own on climate change in what is being seen as a significant win for the anti-carbon lobby. The decision came after a remarkable 46.3 per cent of proxy shareholders went…

2018 Report on Corporate Political Contributions from CPA

Every year we look forward to the latest update from the Center for Political Accountability about corporate political contributions. They are one of our favorite sources for information about the use of shareholder money for campaign contributions and lobbying. This year’s study title is blunt: Collision Course: The Risk Companies Face When Their Political Spending…

Exxon Mobil joins exodus of firms from lobbying group ALEC | Reuters

This is a very important step forward, and we are most grateful to Walden Asset Management and the other investors who worked with great patience and integrity to communicate with ExxonMobil about these issues. Exxon Mobil said on Thursday it ended its association with the American Legislative Exchange Council, a conservative political group that several…

Pushing Back on Dark Money

Montana Gov. Steve Bullock signed a first-of-its-kind executive order Friday to require many state government contractors to report their political contributions, even those to so-called “dark money” groups that don’t have to disclose donors under federal law. Bullock said the measure is an example of how states can bring transparency to spending by groups classified…