Tag Archive for ‘Citizens United’
Target, Best Buy Investors Seek Review of Political Contributions
Three leading sustainability investment firms filed shareholder resolutions at Target and Best Buy seeking to have independent directors review the companies’ political spending practices and policies. Target and Best Buy have been under fire for contributions made to an organization that backs a Minnesota gubernatorial candidate who opposes gay marriage.
Political Contributions by Target and Best Buy Stir Criticism
Retailers Target and Best Buy find themselves the focus of unwanted attention following their contributions to an organization that backs a Minnesota gubernatorial candidate who opposes gay marriage. The case is one of the first major controversies since the U.S. Supreme Court ruled that corporations and unions could spend freely on political campaigns.
Shareholders Press for Political Spending Disclosure
The Center for Political Accountability, examining results of disclosure proposals for the 2010 annual meeting season, found that shareholder support for disclosure rose to a record 30.25% at 28 meetings.
Politicizing the Board: Directors Face Powerful Pressures
Serving as a corporate board director will soon become more similar to serving as a county commissioner or city assemblyman than serving on a traditional for-profit corporate board, and as a result some directors may choose not to serve, according to a leading U.S. corporate governance expert.
Democrats Introduce Political Contributions Legislation
Democrats officially launched their long-expected legislative response to the Supreme Court’s Citizens United ruling freeing up corporations, unions and other groups to make political contributions. Five U.S. Senators released their version of the DISCLOSE Act – an acronym for the “Democracy is Strengthened by Casting Light on Spending in Elections” Act. Similar legislation was introduced in the House. (File Photo)
Citizens United and Political Contributions: The Story So Far
Even before corporations and other groups start writing checks to exercise their new-found freedom, the Citizens United case appears likely to emerge as a key litmus test in the process of selecting a successor to Justice John Paul Stevens, who has announced his plan to retire after the current Supreme Court term.
Shareholder Advocates Urge Disclosure of Political Spending
The Center for Political Accountability, the Council of Institutional Investors and a number of shareholder advocate groups have launched a letter-writing campaign urging companies in the Standard & Poor’s 500 Index to disclose all political contributions they make with corporate funds.
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