Archive for February, 2009

ProxyDemocracy in Motley Fool

The Motley Fool published a nice article about proxy voting issues relevant to individual investors yesterday, discussing both the importance of broker voting and the huge clout of mutual funds’ and other institutional investors. I was happy to see that the article mentioned ProxyDemocracy as a good way to find out how your mutual fund voted, saying “this accountability may help keep them honest.” We need all the help we can get in getting the word out, and hopefully this will help.

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February 28, 2009 at 7:13 am Leave a comment

Reinhardt: Whom do corporate boards represent?

Uwe Reinhardt posted a nice summary of Bebchuk and Fried’s “Pay Without Performance,” which assesses the reasons why executive compensation differs from “optimal contracting.” Bebchuk and Fried argue that CEOs basically set their own pay, subject to an “outrage constraint,” which Reinhardt notes has become stricter with the downturn. (Witness execs of bailed-out companies being excoriated for consuming their usual perks.) I’d like to see more analysis of when and why public outrage has bite. I would think that shareholder protest votes — and the threat of takeover or sell-off that lies behind them — would be a part of the story.

February 20, 2009 at 10:59 am 1 comment

New way to see funds’ votes

We just added a new feature to our voting profiles — the ability to see a fund’s voting history organized by company and date. It’s always been possible to find a particular fund’s vote at a particular company on our site, but this new cut lets you see the companies where this fund has voted, and then drill down to compare the fund’s votes to those of other funds in our database. It’s particularly useful for our advance disclosers, for whom this shows all of the upcoming meetings at which we’ve collected votes.

Here’s an example: votes by meeting at Florida SBA.

To see votes by meeting for any fund/institution in our database, just go to the fund’s voting profile and click “See votes by meeting.”

Feedback encouraged!

February 18, 2009 at 8:28 am 1 comment


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