Main Street Investors Coalition’s Latest Lie

They have no connection to Main Street or investors, and the only coalition they represent is the group of corporations and CEOs who fund them. They adopt a fake folksy name and use “we” about investors and put endearing stock photos of ordinary people and slick graphics in their tweets. They cite their affiliate organizations…

In Which We Hear (Indirectly) from Main Street Investors Coalition and Get a Surprising Claim About Their Views on Climate Change

When our post on the SEC Proxy Roundtable was reprinted on the Conference Board’s corporate governance blog, it elicited a response from Main Street Investors Coalition advisory board member Bernard Sharfman, who challenged our assertion that the corporate-funded fake front group led by a former energy industry lobbyist is a climate change denier. We have…

More Corp-splaining and Denial on ESG/SDG

Sean Di Somma, who has been commenting on my critiques of the fake, industry-funded front group Main Street Investor Coalition (hint: they are not from Main Street and they don’t have any investors representatives on their board), now is endorsing their agenda by complaining about ESG regulation and proxy advisors. So-called “environmental, social, and governance”…

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.”…

FT: Investors pass the buck on governance VEA: No They Don’t

Rana Foroohar’s column on institutional investors and corporate governance is internally inconsistent and factually wrong. She says that institutional investors “outsource” their proxy votes to the proxy advisory firms. But anyone who understands finance and markets has to recognize that (1) institutional investors rely on a wide range of sources for making all investment decisions,…

Conference Board: Proxy Advisory Service Firms on the Role of the Director

The Job of the Corporate Director – Perspectives of Proxy Advisory Firms Wednesday, March 1, 2017 Mandarin Oriental, 1330 Maryland Avenue, SW Washington, DC 20024 Complimentary event, registration required. Please join us for the first in a year-long series of roundtable discussions to examine what different stakeholder groups see as the “job description” for public…