I get a lot of Annual Meeting notices for various companies in which we hold stock. I've managed to reduce the stacks of glossy paper reports (does anyone read these?) somewhat, but still have a load of proxy forms to be filled out, especially this time of year.
I complete all those that can be done online, but there is an unmistakable pattern in these proxy votes, that cuts across all corporations, regardless of how 'enlightened' they may advertise themselves as.
Invariably, there are some issues to be voted on that originated with the Board, and others that are labeled as having come from 'Shareholder'. I have yet to see a single Shareholder issue, where the Board did not recommend a 'no' vote, even on such issues as 'Global Warming'.
There are only two possible conclusions:
1) all issues of shareholder concern are misguided and contrary to the interests of the corporation.
2) the arrogance of Boards of Directors is limitless, and any idea not originating with their support staff is simply seen as a threat to their power, which cannot be tolerated.
I always vote 'yes' on every shareholder issue where the Board recommends 'no', and I always 'withhold' my vote for every proposed Board member. Just trying to do my part.
I wonder if Diebold is involved in tabulating the ballots?
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