United States Proxy Exchange Facilitating Shareholder Rights Tue, 13 Sep 2011 23:15:34 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 Test Driving the USPX Guidelines on Say-on-Pay /2011/08/test-driving-the-uspx-guidelines-on-say-on-pay/ /2011/08/test-driving-the-uspx-guidelines-on-say-on-pay/#comments Fri, 12 Aug 2011 20:15:19 +0000 Brett Davidson /?p=594 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/08/shutterstock_19872673.jpg" width="240" /> </p>Brett Davidson is a member of the USPX and publishes Investletter. He serves on the committee that released the USPX guidelines for voting on say-on-pay.  In this article, he assesses those guidelines, applying them to the 36 corporations that failed their say-on-pay votes this proxy season. For that purpose, he also experiments with how the [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=faBeziavBiY:w6cbiNTuKrc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=faBeziavBiY:w6cbiNTuKrc:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/08/test-driving-the-uspx-guidelines-on-say-on-pay/feed/ 2 Shareowner Guidelines for Say-on-Pay Voting /2011/08/shareowner-guidelines-for-say-on-pay-voting-2/ /2011/08/shareowner-guidelines-for-say-on-pay-voting-2/#comments Wed, 03 Aug 2011 22:24:49 +0000 Glyn A. Holton /?p=479 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2010/11/standards_banner-622x80.gif" width="240" /> </p>Download the full standards (11 pages). Today, the United States Proxy Exchange (USPX) released standards for shareowners to use in making say-on-pay voting decisions. Congress&#8217;s new “say-on-pay” rules allow shareowners to express an opinion on executive compensation at annual meetings. But to make informed voting decisions, shareowners must first assess the compensation packages boards propose. [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=kNpzfTFgbOQ:km6QVFrerVc:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=kNpzfTFgbOQ:km6QVFrerVc:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/08/shareowner-guidelines-for-say-on-pay-voting-2/feed/ 2 Focus on the USPX /2011/06/focus-on-the-uspx/ /2011/06/focus-on-the-uspx/#comments Fri, 17 Jun 2011 15:50:21 +0000 Glyn A. Holton /?p=362 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/06/june_11_meeting.jpg" width="240" /> </p>On Saturday, eight members of the USPX came together for a day-long focus group to share thoughts on our movement and plan for the future. Kevin and Maggie Weber kindly hosted the gathering at their home near Boston. Attendees came from across the country. Jim McRitchie flew in from California; Vincent Cirulli came from Alabama; [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=mEA76fyCnNA:dYZ-CC51GPU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=mEA76fyCnNA:dYZ-CC51GPU:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/06/focus-on-the-uspx/feed/ 0 Request for Comments: Say-on-Pay /2011/05/request-for-comments-say-on-pay/ /2011/05/request-for-comments-say-on-pay/#comments Thu, 12 May 2011 20:39:45 +0000 Glyn A. Holton /?p=161 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/05/dollars_bundled_100s_2011.jpg" width="240" /> </p>The USPX is releasing draft guidelines for shareowner&#8217;s to use in making say-on-pay voting decisions. Comment letters are due by June 2. We hope to have the finalized guidelines out by later this summer. In 1965, CEO pay at large companies was 24 times the average worker’s wages. By 2007 that number had increased to [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=aFOsIBMGu6I:-7NyHWh95Cs:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=aFOsIBMGu6I:-7NyHWh95Cs:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/05/request-for-comments-say-on-pay/feed/ 30 Website Upgrade in Progress! /2011/04/upgrade-in-progress/ /2011/04/upgrade-in-progress/#comments Thu, 07 Apr 2011 01:48:26 +0000 Glyn A. Holton /?p=14 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/04/upgrade_coming.jpg" width="240" /> </p>Please excuse our appearance as we implement an upgrade. The familiar old website is still operating and can be accessed at: old website Please don&#8217;t try to use the new site yet. The &#8220;back-end&#8221; isn&#8217;t wired, so nothing will work. When the new site does go live, it will have some amazing features. In the [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=2kTam9YbOko:MQQ2HBNYjHg:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=2kTam9YbOko:MQQ2HBNYjHg:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/04/upgrade-in-progress/feed/ 0 SEC Enforcement: Will They or Won’t They? /2011/03/sec-enforcement-will-they-or-won%e2%80%99t-they-2/ /2011/03/sec-enforcement-will-they-or-won%e2%80%99t-they-2/#comments Thu, 31 Mar 2011 20:33:15 +0000 Glyn A. Holton /?p=107 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/05/houston_2011.jpg" width="240" /> </p>The SEC has a reputation of enforcing regulations against two-bit players in the financial arena while tiptoeing around the big boys. Back in December, Apache Corp. (APA) announced plans to flaunt US securities laws. The Commission’s response has been three months of unbroken silence. Apache’s CEO, G. Steven Farris, is waging a war against shareowner [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=bS0wdG86nF0:mMdFOKgQUhs:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=bS0wdG86nF0:mMdFOKgQUhs:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/03/sec-enforcement-will-they-or-won%e2%80%99t-they-2/feed/ 0 The SEC’s Problem With the First Amendment /2011/03/the-secs-problem-with-the-first-amendment/ /2011/03/the-secs-problem-with-the-first-amendment/#comments Fri, 11 Mar 2011 17:01:55 +0000 Glyn A. Holton /?p=867 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="http://glynholton.contingencyanalysis.com/files/2011/03/constitution_against_flag-300x200.jpg" width="240" /> </p>The SEC&#8217;s approach to regulating US securities markets relies on controlling speech: they compel &#8220;disclosures&#8221;, prohibit certain statements, and impose onerous requirements on others. All of this is difficult to reconcile with the First Amendment&#8217;s guarantee of freedom of speech. Last week, the Supreme Court affirmed that the Westboro Baptist Church, based in Topeka, Kansas, [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=R36R31eotFo:bhnrf2nji0E:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=R36R31eotFo:bhnrf2nji0E:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/03/the-secs-problem-with-the-first-amendment/feed/ 0 SEC: Time To Remove the Gag /2011/02/sec-time-to-remove-the-gag/ /2011/02/sec-time-to-remove-the-gag/#comments Wed, 09 Feb 2011 15:10:17 +0000 Glyn A. Holton /?p=121 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/05/hq1.jpg" width="240" /> </p>When corporations go to court to challenge a shareowner&#8217;s right to submit a proposal for inclusion in the firm&#8217;s proxy materials, it is up to the court to interpret applicable SEC rules. You would think the SEC would help the court by clarifying its position on the issues. Instead, the SEC says and does nothing. [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=FTEqm-G83z4:SBeS1LlB5AQ:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=FTEqm-G83z4:SBeS1LlB5AQ:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/02/sec-time-to-remove-the-gag/feed/ 0 Reuters Spotlights the USPX /2011/02/reuters-spotlights-the-uspx/ /2011/02/reuters-spotlights-the-uspx/#comments Wed, 09 Feb 2011 13:28:54 +0000 Glyn A. Holton /?p=137 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/05/Glyn_and_Norman.jpg" width="240" /> </p>Yesterday, Ross Kerber of Reuters wrote a wonderful piece describing the USPX. It focuses on Glyn Holton and one of our less-known members: Norman the cat. You can read the article here.<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=_pExKCoNJlI:pkKxkPawwLI:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=_pExKCoNJlI:pkKxkPawwLI:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/02/reuters-spotlights-the-uspx/feed/ 0 KBR Bellies Up To The Bar /2011/01/kbr-bellies-up-to-the-bar/ /2011/01/kbr-bellies-up-to-the-bar/#comments Fri, 21 Jan 2011 16:45:39 +0000 Glyn A. Holton /?p=141 <p style="float:right; margin:0 0 10px 15px; width:240px;"> <img src="/wp-content/uploads/2011/05/gavel_and_scales_3.jpg" width="240" /> </p>On January 14, KBR sued shareowner activist John Chevedden in Federal District Court in Houston to challenge a proposal he submitted for inclusion in the company&#8217;s 2011 proxy materials. As Yogi Bear would say, it feels like Déjà vu all over again. Last year, Apache Corp similarly sued Chevedden for the same reason. With KBR, [...]<div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=I74exNRxUKo:n2MW657XUKI:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?a=I74exNRxUKo:n2MW657XUKI:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/UnitedStatesProxyExchange?d=qj6IDK7rITs" border="0"></img></a> </div> /2011/01/kbr-bellies-up-to-the-bar/feed/ 0