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SHOULD Home Depot’s board report each year on the company’s political policies and spending? In a groundbreaking vote at the company’s June 2 annual meeting, Home Depot’s shareholders will have the chance to vote on a nonbinding resolution of support for the company’s policies on, and future plans for, political contributions.
The vote was made possible because the Securities and Exchange Commission rightly decided in March to allow proxy proposals that require public companies to permit their shareholders to weigh in on their political spending.
The Supreme Court Had Its Say. Now Let Shareholders Decide. - NYTimes.com
Seeded on Sun May 15, 2011 3:43 AM EDT
Article Source: The New York Times- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (3)
America's institutional investors must stand up to the Supreme Court's misguided decision and bring democracy to corporate governance, recognize conflicts that arise from the interlocking interests of our corporate and financial systems, and take that first step along the road to reducing the dominant role that big money plays in our political system.
This may be the most opportune way to overturn Citizen's United without having the SOTU embarrass itself again.
- 3 votes
#1 - Sun May 15, 2011 4:00 AM EDTRemember when the CEO of Target donated money to support his personal political agenda? He was anti-gay and used Target's money to support anti-gay politics. Word of this got out and sales at Target suffered from a boycott. The CEO, in the end, was personally responsible not only for his mean and reprehensible politics, but for causing the organization he is/was responsible to manage to lose money. Too, for his own enjoyment and gratification he pissed off many other Target stakeholders, including employees.
His actions were a clear abuse of power and position. They were a consequence of authoritarianism, and an expression of self-indulgence. This dynamic and this case explains further why the right-wing insists upon secrecy and subterfuge. A core urge and a corrosive personal need for them is to escape accountability, responsibility, and consequences. That, too, is an authoritarian urge. Per the authoritarian, it is others who are meant to bear the consequences of the authoritarians' actions; that's where all the fun is.
- 1 vote
#2 - Sun May 15, 2011 6:52 AM EDTSadly most of middle America have 401K's that do not proxy for each and every stock held in the portfolio. Unless you own individual stocks your vote won't count. It will be at the whim of the money manager. You will have no say in how he or she votes your shares...
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