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 Stephen Withers turns his gaze on the world of Apple, with
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Technology news and Jobs 
Our Blogs Core Dump Apple shareholders propose, directors oppose
Our Blogs Core Dump Apple shareholders propose, directors oppose | Apple shareholders propose, directors oppose |
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| by Stephen Withers | |
| Friday, 09 January 2009 | |
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Page 4 of 4 In Apple's case the list of peers includes Amazon, Cisco, Dell, Google, HP, IBM, Intel, Microsoft, News Corp, Time Warner, Walt Disney and Yahoo!.Featured Whitepaper
5 Best Practices for Smartphone Support
The board argues that it is part of its job to set executive compensation, and that provision for an advisory vote could be taken as a signal that compensation opportunities could be restricted, making it harder to recruit and retain exceptional executives. In any case, the board notes that there may be new legislation that will require advisory voting on executive compensation, and argues that Apple would be best served by promptly adopting any mandatory changes. So what's the likely outcome? Shareholder resolutions rarely get across the line, often because large institutional investors typically follow board recommendations. The reasoning seems to be that you either go with the board or you vote it out. 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. |
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