In a new report, James Copland, director of the Manhattan Institute's Center for Legal Policy, highlights what to watch for in 2012 in the world of shareholder activism. Drawing upon new data from the Proxy Monitor database, Copland identifies alarming trends in shareholder proposals, predominantly sought by labor-union pension funds. As the proxy season kicks off this month, Copland suggests that those interested in corporate governance should particularly follow shareholder proposals related to shareholder advisory votes on executive compensation, shareholder proposals involving corporate political spending, shareholder proposals calling for independent board chairmen, and shareholder proposals seeking proxy ballot access for director nominees. (Boardmember.com article)
ProxyMonitor.org is a project of the Manhattan Institute's Center for Legal Policy and is designed to shed light on shareholder activity. Central to ProxyMonitor.org is the Proxy Monitor public web database which has been updated to include shareholder proposal information for the Fortune 200 companies from January 2006 to August 2011. Proposals are searchable by company, year, proposal type, sub-proposal type, proponents, proponent type and industry. Searches are exportable to Excel and can be graphed to reveal trends in shareholder activity.
For the 2012 proxy season, Proxy Monitor will again feature its scorecard which will include, company names and meeting dates, proposal title and type (general and specific), proponent title and type (general and specific), and votes for each proposal in real time. Point of Law will feature commentary and links to newly discovered trends and findings as the proxy season gets into full swing.