Tag

Proxy Voting

All articles tagged with #proxy voting

politics2 years ago•1 min saved

Federal Judge Declares 2022 Congressional Spending Bill Unconstitutional

A federal judge in Texas ruled that the US House of Representatives violated the Constitution by using proxy voting to pass a major spending bill in late 2022, as it did not have enough representatives physically present for a vote. The ruling, in response to a lawsuit brought by Texas Attorney General Ken Paxton, blocks the enforcement of a provision in the funding bill and comes after the House ended its use of proxy voting when Republicans took the majority after the 2022 election. The Justice Department declined to comment, and if appealed, the case would be reviewed by the 5th US Circuit Court of Appeals.

via CNN|

#constitution #federal-judge #politics

politics2 years ago•3 min saved

"Federal Judge Declares 2022 $1.7 Trillion Spending Bill Unconstitutional"

A federal judge in Texas ruled that the $1.7 trillion government funding bill passed by Congress in 2022 under a pandemic-era proxy voting rule is unconstitutional, specifically blocking the enforcement of the Pregnant Workers Fairness Act against the state as an employer. The judge found that a physical quorum was required to pass legislation, and Texas Attorney General Ken Paxton, who challenged the bill, criticized the use of proxy voting as a violation of the Constitution. The ruling also addressed Texas's standing to challenge funding for a pilot program aiding noncitizens during immigration removal proceedings.

via Fox News|

#dollar17-trillion-spending-bill #federal-judge #politics

politics2 years ago•2 min saved

"Texas Federal Judge Declares 2022 Congressional Spending Bill Unconstitutional"

A federal judge in Texas ruled that the 2022 government funding bill was unconstitutionally passed through a pandemic-era proxy voting rule, granting a request to block a provision giving pregnant workers stronger legal protections. The judge's ruling, limited in scope, blocked the Pregnant Workers Fairness Act from being enforced against the state, citing the proxy voting rule's violation of the Constitution's quorum clause. The Justice Department defended the bill, and while the state lacked standing to challenge certain appropriations, the judge's decision did not block all of the spending law.

via Reuters|

#constitutionality #politics #proxy-voting

legalpolitical2 years ago•1 min saved

"Federal Judge Declares 2022 Congressional Spending Bill Unconstitutional"

A federal judge in Texas ruled that the 2022 government funding bill was unconstitutionally passed due to the use of proxy voting, granting a request to block a provision related to pregnant workers' legal protections. The judge's ruling only applies to state government employees in Texas and does not block the entire spending law. The lawsuit, filed by Texas Attorney General Ken Paxton, argued that the bill was unconstitutionally passed as more than half of the House members were not physically present to provide quorum and voted by proxy. The judge's decision was based on the requirement for a physical quorum and the distinction between absent members and the quorum in the Constitution's quorum clause.

via NBC News|

#constitutional-challenge #federal-judge #legalpolitical

business2 years ago•1 min saved

"Disney's Strategy for Defeating Activist Investors, Explained by Prof. Ludwig Von Drake"

Disney launches a website called VoteDisney with a video featuring Professor Ludwig Von Drake, instructing shareholders to vote for the company's board nominees using the white proxy card and not for the Trian group or Blackwell's nominees. Activist investor Nelson Peltz is campaigning to replace two Disney directors with himself and former Disney executive Jay Rasulo, while another group called Blackwells Capital is also putting up a slate of directors. Shareholders are urged to discard blue and green proxy cards and submit their votes by April 2, with Disney reporting its latest quarterly earnings this Wednesday.

via Deadline|

#activist-investors #business #disney

finance2 years ago•6 min saved

Biggest Asset Managers Lack Ownership of Major U.S. Corporations

Claims that asset managers like Vanguard, BlackRock, and State Street "own" or "control" major U.S. corporations are debunked. While these companies are top shareholders in many prominent firms, they manage index funds on behalf of investors, not for personal gain. The asset managers use proxy voting to advance the best financial interests of their shareholders, and their voting records show that the majority of votes are on routine corporate matters. Claims of a "cartel" pushing ESG initiatives are unfounded, as the asset managers often disagree on key votes and have launched pilot programs to allow shareholders to direct voting on certain issues.

via CNBC|

#asset-managers #esg-initiatives #finance

finance2 years ago•5 min saved

Canopy Growth Corp: Stock Surge and Annual Meeting Reminder

Canopy Growth Corporation is reminding its shareholders to cast their votes ahead of the upcoming annual general and special meeting of shareholders, scheduled for September 25, 2023, at 1:00 p.m. Eastern time. Shareholders are being asked to vote on various proposals, including the election of directors, appointment of auditors, adoption of a new equity incentive plan, and an advisory vote on executive compensation. The Board of Directors recommends voting "FOR" all proposals and each director nominee. Shareholders of record as of August 3, 2023, are eligible to vote, and they are encouraged to vote well in advance of the proxy deadline on September 21, 2023.

via Yahoo Finance|

#annual-general-meeting #canopy-growth #corporate-governance

finance2 years ago•1 min saved

"WSJ Releases ESG Proxy Vote Ranking"

A new analysis by the Committee to Unleash Prosperity reveals that many asset managers proxy vote in favor of woke shareholder proposals to do racial audits or strangle fossil fuels, even in non-ESG investment vehicles. The report examined 4,814 non-ESG branded funds to see how proxy votes were cast on 50 of the most extreme ESG-oriented shareholder proposals from 2022. The problem is having a hidden agenda that applies to everybody else, and it is important to ensure that asset managers are voting based on the interests of investors rather than political agendas.

via The Wall Street Journal|

#asset-management #esg #finance

finance2 years ago•6 min saved

ISS Recommends BBBY Shareholders Vote "FOR" All Proposals, Despite Stock Split Inquiry.

Institutional Shareholder Services (ISS), a leading independent proxy voting and corporate governance advisory firm, has recommended that Bed Bath & Beyond Inc. shareholders vote "FOR" all proposals detailed in the Company's definitive proxy statement filed on April 5, 2023. The Company's upcoming Special Meeting of Shareholders is scheduled to be held on May 9, 2023, and ISS supports the approval of a reverse stock split, which may enable the company to raise sufficient equity capital.

via Yahoo Finance|

#bed-bath-and-beyond #finance #iss