December 3, 2013
The attached analysis for the NYTimes identifies how broken the current proxy voting and say on pay voting process is and were highlighted in a recent NYTimes articles
18 companies deliver $ 134 billion in economic loss over 5 yrs
90 Named Officers are granted $ 3.1 billion in executive pay
ISS and Glass Lewis ONLY recc'd AGAINST 3 of these 18 value destroying companies where they have 5 yr + ROIC WACC
Finance and Business strategy 101
This clearly points to MATERIAL flaws in the current proxy voting and say on pay voting processes
Copyrighted material redacted. Author cites:
Burgman, Roland, and Mark Van Clieaf. "Total Shareholder Return (TSR) and Management Performance: A Performance Metric Appropriately Used, or Mostly Abused?" Rotman International Journal of Pension Management 5.2 (2012): n. pag. Web. 04 Dec. 2013. http://www.rijpm.com/article/total-shareholder-return-tsr-and-management-performance-a-performance-metric-appropriately-used-or-mostly-abused.
Van Clieaf, Mark, and Janet Langford Kelly. "The New DNA of Corporate Governance: Strategic Pay for Future Value." The Corporate Governance Advisor 13.3 (2005): n. pag. Aspen Publishers. Web. 4 Dec. 2013. http://www.rijpm.com/pre_reading_files/Mark_Van_Clieaf_Pre-Reading_May_2011.pdf.