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Firm to AAPL Investors: Bump Gore
by , 10:45 AM EST, March 4th, 2008
The Proxy advisory firm Glass Lewis & Co. is advising Apple shareholders to withhold votes for board members Al Gore, Arthur Levinson, and Jerome York. Shareholders are scheduled to vote for on Apple board of directors nominees on Tuesday.
According to the Forbes, the firm claimed that more than 25 percent of AAPL shareholders withheld votes for the three board members last year, raising concerns over their nominations. Glass Lewis also raised concerns over their involvement in the company's backdated stock option grant scandal from last year.
While the firm is advising against retaining former U.S. Vice President Gore, Mr. Levinson, and Mr. York, it says investors should keep the other board members. That list includes Chief Executive Steve Jobs, William Campbell, Millard Drexler, Andrea Jung, and Eric Schmidt.
Glass Lewis is also throwing its support behind a proposal that would allow shareholders to ratify executive compensation every year. Apple, however, is against the proposal.
Observer Comments
Tue Mar 04, 2008 1:58 pm Subject: For whom do they work
Tue Mar 04, 2008 3:54 pm Subject: Operating costs
QuoteGuest wrote:
I'm not super high on any green initiatives that will result in higher operating costs.
Maybe if you got high on some green stuff you wouldn't care about the operating costs.
Seriously, you can have it both ways. Environmentally friendly products and buildings along with reduced operating costs. Or we could go to coal fired steam operated computers such as the retro steampunked Mac Mini.
QuoteGuest wrote:
I'm not super high on any green initiatives that will result in higher operating costs.
This is short term, myopic thinking. This is like trying to save money by never changing the oil in your car. It certainly works if someone else has to pay for the new engine.
The bill for Katrina will be a hundred times what it would have cost to prevent the flood. We knew the hurricane was coming. We know global warning is coming. We know what pollution will do to us. Someday we will ask ourselves who was in control when we passed on the chance to avoid disaster. And then there will be trouble.
Wed Mar 05, 2008 2:01 am Subject: advisory, or agitprop?
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