Does anyone here think their proxy vote matters?

…especially when management can buy votes from holders with size?

ValueAct managed more than $355 million in Disney pension funds that the company’s board did not disclose while heralding the investment firms support, a rival activist has said.

Blackwells raised questions about Disney’s relationship with Mason Morfit’s ValueAct, suggesting that the company has heralded Morfit’s support but not been fully transparent about ValueAct’s financial benefit from the company.

ValueAct has collected a cumulative $95 million in fees from Disney since 2014, Blackwells said.

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no!
and more characters

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Now I only vote by proxy on matters of principle knowing that it won’t move the needle.

The Captain

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Personally i always vote my shares. And always for mgt. Maybe unless there is a proxy fight. But they are rare.

If you are unhappy with management, sell your shares.

Companies spend resources getting shareowners to vote. Vote and save them a dime.

My broker makes voting shares easy. A few clicks of the mouse.

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…because “big gummit” forces them to. I went to the first Compuserve shareholder meeting, after the company became independent. There were only about a dozen shareholders there. When the floor was opened for questions, I asked, words to the effect “it isn’t the end of the fiscal year. you haven’t published an annual report. why are we here?” The answer was “government regulations”.

Increasingly, managements are going to the SEC for permission to suppress shareholder proposals, rather than letting shareholders vote on them.

As offered before, increasingly, management is unaccountable to anyone, by packing the Board with cronies that do their bidding, and ignoring shareholders. If the “JCs” win in the SCOTUS, the shareholders will only get the mushroom treatment.

Steve

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Agree! 20 times

The Captain

I also vote my shares and the Board. However, I always vote against the “approve executive compensation”. I know it has no effect but I want them to know I don’t think they are worth it! :rofl:

JimA

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I have a couple rules in voting proxies:

-automatically vote against former politicians/government department officials/admirals, generals, and officers of the company being on the Board.

-vote against the CEO’s compensation if it grew faster than the shareholder return.

A couple years ago, Jamie Dimon had an $80M payday, vs only $30M the year before, while shareholder return lagged the industry average.

Shareholders voted, overwhelmingly, against Dimon’s payday, but he kept every nickle.

As a VP of the US said, about the VP office, some years ago, a shareholder’s vote “isn’t worth a bucket of warm spit”.

In an advisory say-on-pay referendum, only 31% of votes cast endorsed JPMorgan executive payments for 2021, according to a preliminary count announced at the company’s annual meeting.

https://www.reuters.com/markets/us/jpmorgan-shareholders-reject-special-payout-ceo-dimon-2022-05-17/

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Another rule in proxy voting: I always vote for proposals to require the company to disclose who they bribe, how much they paid in the bribes, and why. Management always says their bribery activities are none of the shareholder’s business.

Steve

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