May 29, 2012
Say-on-Pay: Now 32 Failures – And Two Companies Fail In Consecutive Years!
I’ve added 14 more companies to CompensationStandards.com’s failed say-on-pay list for 2012! We are now at 32 companies that have failed to garner major support – with Chiquita Brands garnering support only in the teens (19.8%; see Mark Borges’ analysis of this failure)! Hat tip to Karla Bos of ING Funds for keeping me updated!
And Hercules Offshore became the first (41% support in ’11 and 48% in ’12) – and Kilroy Realty became the second (49% support in ’11 and 30% in ’12) – company to fail two years running…
And this list doesn’t include the recent voting results from Cablevision Systems – a company which did not have say-on-pay on its ballot this year because the frequency is triennial (per page 26 of their proxy statement; triennial was the choice of shareholders last year) – whose members of the compensation committee received less than majority support presumably due to pay issues. The company has a plurality vote standard so there is no direct impact from this vote. And this result doesn’t get picked up in the “failed SOP” count even though I would consider it to be a more serious failure than a nonbinding SOP vote…
Webcast: “Looking Out for #1: How to Manage Your Career”
Tune in tomorrow for the webcast – “Looking Out for #1: How to Manage Your Career” – to hear Peggy Foran of Prudential Financial, Charlotte Lee of Lee Hecht Harrison|DBM, Randi Morrison of TheCorporateCounsel.net and Axiom and Susan Wolf of Global Governance Consulting discuss the latest developments in job choices and promoting yourself from within your current job, as well as hunting, recruiting and how to market yourself.
Deal Cube Tournament: Round One; 4th Match
As noted in these rules (and keep sending more pics for the next tourney), please vote for two of the following four cubes below:
– Casket (Opens & Closes; Deal Closed on Halloween)
– Golf Set with Putter, Cup and Balls
– Bear & Bull Coin
– Broc Romanek