Fake Front Group ACCF Clutches Its Pearls Over “Inconsistent” ESG Ratings

The American Council on Capital Formation, the equally fake front group affiliate of the Main Street Investors Coalition (funded by the same corporate sources, led by the same energy lobbyist) is upset because ESG ratings are “inconsistent.” We found a system that is fraught with problems, from inconsistent metrics, to ratings which continually fail to…

Main Street Investors and Its Affiliate Keep Trying, Keep #Failing

Two recent articles from the Main Street Investors Coalition and its affiliate, The American Council for Capital Formation, and our responses: The affiliate of the corporate-funded, lobbyist-led, climate change-denying, fake front group for corporate CEOs, the Main Street Investors Coalition, is run by the same director, funded by the same corporations, and has a similarly…

The Weekly Standard Forgets How Capitalism Works

We are always particularly disappointed when those who claim to be conservative, rhapsodizing about the purity of the free market and urging cutbacks in government regulation, become hypocrites when it comes to the very free market responses and corrections that are essential for the integrity of capitalism. That’s exactly what Jeff Patch has done in…

ISS Testimony at Proxy Advisors Hearing

Excerpts from the statement by ISS CEO Gary Retelny to the Senate Committee on Banking, Housing and Urban Affairs, July 6, 2018: FACT: ISS is a Registered Investment Adviser (RIA) and is subject to strict SEC oversightContrary to the suggestions oft made in the hearing, ISS is a Registered Investment Adviser (“RIA”) and is therefore…

ISS recommends against Goldman pay plan, worried on costs | Euronews

Proxy advisor Institutional Shareholder Services on Friday recommended investors vote against a stock plan for employees at Goldman Sachs Group Inc, concerned about its costs and the bank’s heavy use of stock-based compensation.In a report to clients sent by an ISS spokesman, the leading proxy advisor wrote that the “the cost of the company’s equity…

Institutional Investor’s Wildly Inflammatory Rhetoric About ISS

The wildly inflammatory headline is belied by the actual text, which is sloppily sourced, vague, and internally inconsistent. Michelle Celarier of Institutional Investor calls ISS “The Mysterious Private Company Controlling Corporate America” but then admits that it has produced a “premium research product” that makes recommendations on proxy contests based on the “least invasive solution.”…

What Do Investors Want from Boards?

What do investors want from a board of directors? Much is written on this topic, yet rarely do we get the opportunity to hear directly from the people who vote or influence the vote of shareholder proxies. Featuring: Ed Garden — Chief Investment Officer and Founding Partner at Trian Fund Management, L.P. Robert McCormick, Esq….

Comments to the SEC on Proxy Voting by Retail Investors

We have submitted a comment to the SEC to extend and amplify the comments at their January hearing on improving proxy voting participation by retail investors.  Other comments, including those by James McRitchie, CII, and the Fellows of the Corporate Governance of Harvard Law School, are well worth reading. Our comment focused on responding to…