With 43 companies facing shareholder resolutions on political accountability this proxy season, a handful of companies have already reached agreements with filers on this issue.
As the 2007 proxy season begins, one of the major conversations at shareholder meetings will center on companies' disclosure of political giving. The tangled web of political contributions is often difficult for shareholders to follow. Many companies give money directly to candidates and campaigns, and make indirect contributions through trade associations and other tax-exempt organizations. This season, institutional investors and allied shareholders have filed 43 resolutions asking companies to report on how the money from their corporate treasuries is spent on politics.
The Center for Political Accountability ( CPA ) worked with 25 institutional investors to file resolutions based on models created by the CPA. These resolutions urge companies to disclose soft money expenses and to require board oversight of how these moneys are allocated.
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