April 23, 2008

Proxy Statements

I LIKE VOTING on proxy statements. A proxy statement, for those unfamiliar with the term, is a form on which a company that needs its shareholders to vote on various proposals tells its shareholders about the proposals in question, and how it thinks they should vote. The latter option is traditionally a recommendation to vote Yes on the matters at hand, and I must say I delight in voting No.

True, it doesn't really matter. Generally speaking, shareholders get one vote per share they own in the company. Since my holdings are tiny, my No votes are far less than a rounding error when everything is added up. Meanwhile, some lame-o mutual fund that owns roughly eighty million more shares than I do gets to vote Yes on all of them, thus making my vote even more worthless than those of Fritz Mondale's electors back in '84. Still, it is fun. I only wish the voting options would be changed. I would prefer three: Yes, No, and No, No, No You Rotten Bastards.

Posted by Benjamin Kepple at April 23, 2008 09:16 PM | TrackBack
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