Apple shareholders’ proposals for 2009 opposed by Apple’s Board of Directors
Friday, January 09, 2009 - 09:39 AM EST"Apple shareholders are putting four motions to the company's annual meeting on February 25, but the board of directors is opposing each and every one of them," Stephen Withers reports for iTWire. "It's not unusual for shareholders - especially those of an activist bent - to use annual meetings to as vehicles to publicise issues they feel particularly strongly about."
"Furthermore, such motions are often framed to embarrass the company or directors, and it's not unknown for people to buy small parcels of shares primarily to gain the right to propose motions or otherwise speak at annual meetings," Withers reports.
Apple (AAPL) shareholder proposals:
• Twice-yearly report from the company on its direct and indirect political contributions and expenditures. (Proposal by International Brotherhood of Teamsters General Fund, holds 2659 AAPL shares)
• Adopt principles for health care reform based upon principles reported by the Institute of Medicine. (Proposal by: AFL-CIO Reserve Fund, holds 500 AAPL shares)
• A sustainability report from directors "describing corporate strategies regarding climate change, specifically to reduce greenhouse gas emissions and addressing other environmental and social impacts such as toxics and recycling, as well as employee and product safety." (Proposal made on behalf of an individual that owns 84 shares, but co-sponsored by the New York City Office of the Comptroller (over 2 million shares) and the Green Century Equity Fund (7950 shares))
• Shareholders' advisory vote on executive compensation. (Proposal by AFSCME (American Federation of State, County and Municipal Employees) Employees Pension Plan, holds over 21,000 shares)
"Shareholder resolutions rarely get across the line, often because large institutional investors typically follow board recommendations," Withers reports. "If any of the four is to get up, it is perhaps most likely to the one regarding executive compensation, which was supported by the majority of the shares voted at the 2008 meeting but failed the additional hurdle of support by the majority of voting power required to constitute the quorum."
Full article, which contains Apple's Board of Directors' opposition to each proposal, here.
[Thanks to MacDailyNews Reader "Fred Mertz" for the heads up.]


I would like a suggestion box that new product ideas, upgrades, applications and service suggestions can be submitted to Apple. They could establish an internal rating system to sort out the nuts from the great suggestions. I have lots of ideas and suggestions yet to be done by Apple. If they like your idea and you are at all qualified, they could take you on as a project adviser or forward you idea to a 3rd party working with Apple. Win win all around and a good PR move in these hard times. Kind of like that app grant fund.