In a column that ran on the AP Newswires this weekend, Neal Lipschutz, the senior vice president and managing editor of Dow Jones Newswires, agrees with CtW that the SEC should take action to eliminate the broker vote. In the column, titled, "If majority to rule, 'broker vote' must go,” Lipschultz writes:

“Only people who have decided to vote and who are the direct owners of a company's shares should have a say in who represents them on the board of directors.

“That isn't now the case. In a testament to how long some corporate governance controversies can bounce around, the so-called 'broker vote' issue is still alive if not altogether well after years of debate. It should have long ago been relegated to history. Instead, it's become part of a high-profile debate between activist shareholders and the big thrift Washington Mutual Inc.”

Posted by Anna Mumford on April 21, 2008 10:12 AM