A bill that its sponsor and advocates say would give corporate shareholders vast new rights has been met with stiff opposition from the state's largest corporations, some of which have pressured lobbying firms to drop a client who wants the proposal enacted.
The relatively obscure bill has quickly become a curious political mix involving big business, lobbying organizations and a notorious corporate raider, Carl Icahn, who is involved in the coalition Corporate Governance Council that is trying to get the legislation enacted into law.
That coalition hired two of Montpelier's best known lobbying firms, including Downs Rachlin Martin, the largest law firm in the state. But Downs Rachlin Martin dropped the coalition after one of its other large clients, Central Vermont Public Service Corp., raised questions about a potential conflict.
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