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DENNIS PATRICK: STOCKHOLDERS RESIST! |
Many people own stock in corporations. Every publicly traded company must host an annual shareholder meeting. At these meetings, investors cast votes for board members, their compensation package, and management proposals, -- and shareholder proposals. This last category the left has been especially adept at influencing. Unfortunately, conservative investors don’t bothered to show up in person, or by proxy, to vote. Everyone is busy. Kids, grandkids, work, pandemic – all consume time. Corporate proxy voting slides out of mind.
Liberal shareholders advance their agenda through proxy voting – an agenda they could not achieve through government legislation. Think of reactions by Jack Dorsey at Twitter, Tim Cook at Apple, and Brian Moynihan at Bank of America if enough conservatives voted to oust board members, disapprove the executive compensation packages, and turn down proposals.
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