Stanley Black & Decker Inc. 

The annual proxy for this manufacturer of tools and hardware had the following proposals:  Proforma votes on directors, the appointment of auditors, and executive compensation  Special vote on a board proposal to approve the Global Omnibus Stock Purchase Plan  Magni voted as follows:  For all proforma proposals. -Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity. The aspects […]

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Compania Cervecerias Unidas 

The annual proxy for this Chilean alcoholic and non-alcoholic beverages company had ten proposals. There is one proposal to elect the members of the board, but the names of the candidates are not provided. The mailed information did not explain the proposals and the proxy voting site did not have information. The proxy voting site only afforded an approve or abstain vote; voting against a proposal […]

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Carnival Corporation 

The annual proxy for this British-American cruise operator had the following proposals:  Proforma votes on directors, appointment of auditors, and compensation (actually the British version of the proposals)  Proforma European votes on annual confirmation of authorities  Magni voted as follows:  Magni voted for and against proforma proposals. -For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors […]

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Bank of America Corporation 

The annual proxy for this financial services company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Board proposal to amend the Key Employee Equity Plan  Shareholder proposals on written consent, gender equity, and shareholder proxy access  Magni voted as follows:  For all proforma proposals. -Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of […]

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Aercap Holding N.V. 

The annual proxy for this aircraft leasing company had fifteen proposals. There is one proposal to elect a board member. She was identified, along with a reasonable summary of her qualifications. The rest of the board was not identified. The board represents shareholders. The shareholders should know who is representing them. Lack of disclosure of board members is a very material form of opaqueness. Opaqueness is inconsistent […]

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Lieberman Interviewed by Malaysian Reserve on Islamic Finance

Magni CEO Kurt Lieberman recently visited Kuala Lumpur, Malaysia, to meet with local business leaders. While there, he sat down with Habhajan Singh of the Malaysian Reserve to discuss his country’s standing in good governance practices. The article, entitled “Linking governance index to investment portfolio,” appeared March 18, 2019.    

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Snap-On Incorporated 

The annual proxy for this manufacturer of high-end tools and equipment had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for and against proforma proposals:  For directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity where the equity has restrictions to align director incentives with long-term value creation. […]

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Public Service Enterprise Group, Inc. 

The annual proxy for this energy company had the following proposals:  Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote  Magni for all proforma proposals:  Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion in equity where the equity has restrictions to align director incentives with long-term value creation. The compensation levels are set […]

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HSBC Holding PLC 

The annual proxy for this British bank and financial services holding company had the following proposals:  Proforma votes on directors, appointment of auditors, and compensation (actually the British version of the proposals)  Proforma European votes on annual confirmation of authorities  Shareholder proposal on the Midland Bank defined benefit pension scheme  Magni voted as follows:  Magni voted for all proforma proposals. -Directors – The board has a majority of independent directors and […]

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Fluor Corporation 

The annual proxy for this engineering and construction firm had the following proposals:  Proforma votes on directors, the appointment of auditors, and executive compensation  Shareholder proposal to require adopting goals for reducing greenhouse gas emissions  Magni voted as follows:  For all proforma proposals. -Directors – The board has a majority of independent directors and some have CEO/CFO experience with other companies. The compensation of directors is disclosed with a meaningful portion […]

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