AnnualMeetings posts

Feed

Citigroup to shareholders: Buy your own coffee!

The New York Times reports that Citigroup (NYSE: C) decided to cut its costs by doing away with coffee at its annual meetings, although any money saved on that extravagance was negated by the expense of hiring more than 50 security guards to protect the army of idiots that make up the company's senior management and board of directors.

It's easy to understand the frugality: The company's stock has lost nearly 90% of its value over the past year, and what was once the world's most powerful financial institution is now a ward of the state.

Continue reading Citigroup to shareholders: Buy your own coffee!

It's shareholder resolution time -- what is your say on pay?

voter proxiy formsComing soon to investor email and mail boxes will be annual reports and proxy voting materials, complete with this year's shareholder resolutions. Hot topics this annual meeting season include the ever popular "say-on-pay." Shareholders are incensed that average or even sub-par executive performance and decision making is being handsomely rewarded with gigantic salaries and perks while they make due with crumbs. According to a recent article in CFO Magazine, 76 shareholder proposals dealing with executive compensation have made it onto the ballot.

Also on many ballots are shareholder resolutions dealing with socially responsible investing, particularly on matters revolving around the issue of global warming and/or climate change. So far, 56 shareholder resolutions have made it onto ballots. At least nine companies have taken steps to negate the need for such shareholder resolutions by rolling out policies addressing how the companies will cut back on greenhouses emissions and otherwise "go green."

As this is a presidential election year, there are at least 50 shareholder resolutions to force companies to disclose political contributions. These resolutions probably won't gain the necessary traction to force any action, but any resolution favoring greater corporate transparency is to shareholders' advantage.

New this year are numerous resolutions requesting senior management to disclose a company's exposure to subprime mortgage losses and secondary purchases in the mortgage market. This is a hot topic among investors right now, and many pension fund investors have taken hits. Look for union members to pressure their pension funds manangers on this one.

How will you vote on these subjects?

Symbol Lookup
IndexesChangePrice
DJIA-74.9212,454.83
NASDAQ-1.852,837.53
S&P 500-2.861,317.82

Last updated: May 25, 2012: 09:30 PM

Hot Stocks

General Electric

19.20-0.05(-0.26)

Alcoa

8.630.00(0.00)

Apple Inc

562.29-3.03(-0.54)

Google Inc 'A'

591.53-12.13(-2.01)

Bank of America

7.15+0.01(+0.14)

Wal-Mart Stores

65.31+0.24(+0.37)

Exxon Mobil Corp

82.08-0.53(-0.64)

Ford

10.60+0.01(+0.09)

Citigroup

26.47-0.19(-0.71)

IBM

194.30-1.79(-0.91)

Yahoo

15.36+0.01(+0.07)

Starbucks

54.56-0.20(-0.37)

Microsoft

29.06-0.01(-0.03)

Home Depot

49.44-0.27(-0.54)

DailyFinance Headlines

AOL Business News

BioHealth Investor Headlines

Sponsored Links

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

Page Loaded in 1337995809417 ms.