US firms love e-proxy savings, but at what cost?
DESPITE the risk that they might be reaping short-term gains while laying the foundation for long-term pain, 566 US companies used notice-only e-proxy mailings for their shareholder meetings by the end of April. According to figures compiled by Broadridge Financial Solutions Inc., companies have saved about $132 million through lower print and mailing costs. Unfortunately, [...]
Participation plummets in e-proxy votes
BROADRIDGE Financial Solutions has released preliminary figures showing sharply lower participation rates by retail shareholders in annual meetings of companies using the new “notice-and-access” model. “Notice-and-access” entails sending a notice to investors by mail asking them to go online for their annual meeting materials, or to request printed materials to be mailed to them. It [...]
US companies should look Down Under
AUSTRALIA, according to the Australian Securities Exchange (ASX), has one of the highest rates of individual share ownership in the world. It’s the best example we have of an equity ownership culture — something many U.S. policy makers and politicians wish America would become. In America, rates of direct share ownership among the U.S. population [...]
Web-based campaigns a wake-up call for corporations
THE web-based Save Disney campaign humbled an immovable board by turning the company’s annual meeting into a public referendum on the effectiveness of the board and CEO. It did so in the space of three months and was spearheaded by two dissident directors — Roy Disney and Stanley Gold — who relied almost entirely on [...]
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