Activists voting against Executive Death Benefits
| March 9th, 2009 | ||
| Activist investors are going after companies that provide "golden coffins" to top executives. Many US companies offer generous death-benefit packages to recruit and keep executives. Activist shareholders have recently submitted nonbinding resolutions to curb rich death benefits at 14 public companies. Such payouts are "the ultimate nonperformance-based perk," says Richard Ferlauto, of the American Federation of State, County and Municipal Employees. The union recently voted against the Shaw Group and its next target is Disney, which it wants to ban future golden coffins. The California Public Employees' Retirement System (Calpers) will be supporting the Disney proposal. | ||
For Detailed Investor Profiles on these Investors, click below: |
CalPERS |
Related Entities: California Public Employees' Retirement System;
View Comments (1) | Add a Comment |
1 Comments
by Dave G. on March 12th, 2009
Here are companies that have already had votes: Johnson Controls – Item was backed by over 41% of votes Occidental Petroleum – Item was withdrawn after settlement Shaw Group – Item was backed by over 66% of votes Here are companies that have upcoming votes: Abercrombie & Fitch Comcast General Dynamics Lockheed Martin Nabors Industries Plains Exploration & Production Safeway Charles Schwab Verizon Communications XTO Energy
More Recent Headlines
Icahn adds another $250 Million to his shrinking war chest |
SSG Capital Management Set to Launch in April |
Warren Buffett’s Annual Shareholder Letter |
Harbinger Hires Goldman Hedge Star Asali |
Ackman wants board representation at Target Corp |
Abax Global Capital’s Founder and CEO Chris Hsu Departs |
KKR Adds Eisenberg as a Senior Advisor |
Steel Partners Abandons Larger Sapporo Stake |
Stephen Raneri and Arthur Rosen to launch LionEye Capital |
Poison Pill Inventor praises Relational Investors |
