Corporate Governance Archives - Page 2 of 12

Intel Becomes First Company to Commit to Political Giving Alignment Review

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.

Political Disclosure Won’t Inhibit Corporate Speech (Wall Street Journal: 11/23/11)

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Mr. Smith’s claim that NorthStar Asset Management is trying “to persuade corporations to voluntarily surrender their First Amendment rights” is mistaken. This is not and has never been NorthStar’s position. NorthStar shareholder proposals asking companies to provide shareowners with a nonbinding vote on corporate political spending is an exercise of our right, as owners of the company, to hold corporations accountable for political spending decisions.

Shareholders Vote on Political Spending

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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.

Home Depot: Let the Shareholders Vote

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On June 2nd, Home Depot shareholders will vote on a shareholder resolution brought by NorthStar Asset Management, Inc, a Boston-based socially responsible investment firm, to allow shareholders a say on political contributions made by their company, a direct response to the 2010 Citizens United ruling by the United States Supreme Court.

Citizens United: The Shareholders Strike Back (Mother Jones: 6/1/11)

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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.

The Supreme Court Had Its Say. Now Let Shareholders Decide. (New York Times: 5/14/11)

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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.

Home Depot Releases Proxy Statement on Electioneering Contributions (4/20/11)

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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.

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