Policy Proxy Bids Waste Company Time: Experts

Law360, New York (May 9, 2008, 12:00 AM EDT) -- Shareholder proposals that advocate company endorsements of social policy changes are a boardroom staple, although most proposals lack the company support to even reach a proxy contest.

However, recent actions by the U.S. Securities and Exchange Commission allowing universal health care proposals to reach a vote are forcing companies to waste valuable resources on debates that are irrelevant to company business, some experts say.

General Motors Corp., Xcel Energy Inc. and The Boeing Co. were recently forced to include shareholder proposals regarding universal health care on...
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