I got my DIS proxy in the mail yesterday and returned it today. I'd like to urge you all to vote yours. I think most executives are overpaid these days, so I routinely vote against the resolution approving executive pay. If enough of us do it, maybe they will back away from the trough a bit.
I also vote against exective pay. I also voted against all the board members to make a point. It's too bad the larger shareholders don't routinely do that. I'm not certain, but I think that has to do sometimes with conflicts of interest, as in Vanguard has to be careful about being negative to a company lest it doesn't receive 401k business. I think votes are private, but I would assume the big institutions simply vote with the companies anyway.
I also vote against exective pay.I also think a big reason they don't vote no ever because they don't care. One of the big reasons the executive pay thing has run out of control is because executives are not really had very accountable. The only people they are really accountable to is the rest of the Board of Directors which is mostly made up of other executives (Good Ol Boys and Girls club if there ever was one).Why should Vanguard for example care? If they don't like the way Disney is run its much easier for a mutual fund or a group of mutual funds to just sell the stock versus try to get it changed to be run better.Which is the root of the problem being most stock is run by institutions and mutual funds very few companies have stock really owned by people who own the stock. The small guys who do are way too small to have any meaningful say. So this is a case where the systems of checks and balances got broken and thus it is out of control.Moe
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