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The CtW Investment Group works with pension funds sponsored by unions affiliated with Change to Win. Our affiliates' six million members participate in public and Taft-Hartley pension funds with approximately $1.5 trillion in assets. The CtW Investment Group blog chronicles the latest developments in corporate governance and shareholder activism, with a specific focus on CtW Investment Group initiatives to increase long-term shareholder value through active ownership.
In this week’s Risk & Governance Weekly Ted Allen reports that the Council of Institutional Investors (CII) plans to send a letter asking WaMu to exclude broker votes from their director election totals.
“WaMu is Exhibit A for this proxy season ... of how broker votes are a thumb on the scale for management," CII Deputy Director Amy Borrus told R&GW.
Allen reported that CII will also pressure the SEC to take action on the broker vote issue.
Posted by on April 18, 2008 12:06 PM
