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Shareholders deserve directors' attention to duties
trueInstitutional shareholders should demand Coca-Cola Co. ask Richard M. Daley to step down as director or explain why, in the face of a personal challenge, he should stay as a member of the company's board.
New York State Common withdraws shareholder proposal at ConAgra
trueNew York State Common Retirement Fund withdrew a shareholder proposal at ConAgra Foods Inc. after the company agreed to commit to using only sustainably sourced palm oil, said a statement Thursday from the $176.2 billion Albany-based pension fund.
Investors should address aggressive corporate tax planning
trueSustainable, well-run businesses should pay a fair level of tax, and avoid the reputational, legal and financial risks posed by aggressive tax planning.
SEC eyes adopting CEO pay ratio rules
trueThe Securities and Exchange Commission is slated to adopt in October its final rules on implementing a proposed CEO pay ratio, said Laura D. Richman, counsel at Mayer Brown LLP, in a teleconference Thursday the law firm hosted discussing key proxy season issues.
Alliant shareholders reject firearms safety proposal filed by 2 pension funds
trueAlliant Technologies Inc. shareholders Wednesday rejected by a 92.3% vote a shareholder proposal on firearms safety filed jointly by the New York State Common Retirement Fund and the Connecticut Retirement Plans & Trust Funds, a company SEC filing shows.
Chamber of Commerce wants simplified corporate disclosures
trueThe Securities and Exchange Commission should simplify corporate disclosure to make filings more useful to investors, including doing away with a requirement to show the company’s stock performance.
Public pension plans take shareholder litigation international
trueIt was only a matter of time before the litigation portfolios of U.S. public pension funds started catching up with their investment portfolios and spending more time overseas.
SEC says FedEx can drop Redskins question from proxy
trueFedEx Corp. has won approval from the SEC to remove a shareholder proposal from its annual proxy asking the company to “respond to reputational damage from its association” with the Washington Redskins NFL franchise.
GMI to expand its ratings to emerging markets
trueGMI Ratings will introduce a combined set of accounting and governance ratings on some 9,000 companies in nearly 60 emerging markets countries.
Proxy access support reaches new level
trueMore proxy access proposals have won a majority level of shareholder support this year than in any other year, leading one asset owner executive to conjecture a tipping point has been reached in terms of investors and management embracing the concept.
Oranges and a live goat: Some tricky questions in governance addressed
trueIn the central conversation on the topic, “Global Plan Governance,” Jonathan Boersma, executive director, global investment performance standards and head of professional standards at the CFA Institute, said a recent World Bank education session on trustee ethical conduct posed tricky questions ...
Put a monkey in there? I prefer you guys
trueBarrick (Gold Corp. was created and grew) without any government support. Yes, the government is behind us. Barrick never received a dollar subsidy, but Barrick did contribute $8 billion in pure direct taxes paid in its existence. Barrick also ... is employing today 25,000 people.
Precedent is upheld on class-action lawsuits that are spurred by stock losses
truePension funds and other institutional shareholders pursuing securities class-action lawsuits got a big vote of confidence from the Supreme Court in late June that could lead to more scrutiny of corporate and market practices, and more financial recovery, some experts say.
Court backs efficient market
trueThe U.S. Supreme Court made the right decision when it rejected a presumption of prudence as a defense in company stock-drop cases, replacing it with a presumption of market efficiency.
Illinois State Board picks Glass Lewis for proxy voting
trueIllinois State Board of Investment hired Glass Lewis & Co. for proxy-voting advisory services for domestic and international holdings.