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What does the Bay of Pigs have to do with lack of diversity in boardrooms—a situation in corporate America that Morgan Stanley CFO Ruth Porat recently described as an “embarrassment”?
More than you might think.
After fruitful negotiations with NorthStar Asset Management, Inc., a Boston-based wealth management firm, Intel Corporation will become the first U.S. corporation to commit to reviewing its political contributions for congruence with its company policies (such as the Intel Code of Conduct, Environmental, Health, & Safety Policy, Climate Change Policy, and Water Policy). NorthStar began this engagement with Intel last fall with the filing of a shareholder proposal on behalf of its pension plan, in which the firm conveyed its concern for potential misalignments between what Intel stands for and how the corporation spends its political giving dollars.
Citing concerns about the risks to Procter & Gamble’s brand, reputation, and shareholder value, NorthStar Asset Management Pension Plan is asking shareholders to weigh in on P&G political spending at the annual meeting on October 11.
The battle against the effects of the Supreme Court’s game-changing Citizens United decision, the ruling that ripped down the wall between corporations and American elections, is gathering steam among an unlikely group: investors. With Congress unable to pass new legislation and the Obama administration so far unwilling to fix the dysfunctional Federal Election Commission, it’s corporate shareholders who are increasingly on the front lines of the effort to foist accountability on the new Wild West of political spending.
Home Depot has released their annual proxy including a resolution calling for a shareholder vote requesting that political contributions reflect Home Depot’s stated corporate values. The resolution, filed by NorthStar Asset Management, Inc. of Boston, was filed in the aftermath of Citizens United v. Federal Election Commission, the controversial Supreme Court decision in January of 2010 that removed prohibitions on corporate electioneering contributions.
After seven months of dialogue with FedEx Corporation, NorthStar Asset Management, Inc. is pleased to report that FedEx has committed to extending health benefits to domestic partners of lesbian, gay, bisexual, and transgender (LGBT) employees in every state. Prompted by a discrepancy between FedEx’s comprehensive non-discrimination policy and the Company’s benefits packages, NorthStar filed a shareholder resolution with FedEx in April of this year asking that equal benefits be extended to partners and families of LGBT senior executives.
On the eve of World Water Day (March 22), Boston portfolio management company NorthStar Asset Management, Inc. is pleased to announce successful negotiations with Intel Corporation on the creation of an official Intel policy that supports the human right to water. Intel Corp. is one of the world’s largest manufacturers of semiconductor chips, the creation of which requires the ongoing use of large amounts of water.
NorthStar Asset Management, Inc., a socially responsible investment firm, is pleased to announce successful negotiations with PepsiCo, worldwide food and beverage manufacturer, of an official PepsiCo policy in support of the human right to water. PepsiCo is the first publicly traded, multinational corporation to create such a policy.
In the face of increasingly alarming statistics about the global availability of clean drinking water, PepsiCo shareholders and human rights activists have teamed up to demand that PepsiCo create and follow a policy that respects the Human Right to Water.
“Water scarcity is a serious modern-day reality,” says Julie Goodridge, CEO of NorthStar Asset Management, Inc., a wealth management firm based in Boston.