Proxy advisors back Teamsters call for new FedEx Head

PiedmontSteward

RTW-4-Less
The Teamsters have been fighting for an independent board chairman at FedEx for years. That fight got a big boost this week with the nation’s two largest proxy advisors telling the company’s shareholders that they should back the Teamsters’ call for a new leader at the company’s Sept. 23 annual meeting.


http://www.teamsternation.blogspot.com/2013/09/proxy-advisor-tells-FedEx-shareholders-to-axe-ceo.html

Definition of a proxy adviser, via Wikipedia:

A proxy firm (also a proxy advisor) is a firm hired by shareholders of public companies (usually large institutions) to recommend and sometimes cast proxy statement votes on their behalf. The top two proxy firms are Glass, Lewis & Co. and Institutional Shareholder Services (most currently a subsidiary of MSCI after that firms acquisition of Riskmetrics).[SUP][1][/SUP] Additional proxy advisory firms include Egan-Jones Proxy Services, Marco Consulting Group and C&W Investment Group.[SUP][2][/SUP] Recently, as of first quarter 2012, a new firm going by the name ProxyTell, LLC appears to have entered this market.[SUP][3][/SUP]
By some accounts, ISS advised half of the common stock in the world as of 2010.[SUP][4][/SUP] Some proxy firms play the role of proxy advisor, in which they simply advise their clients on how to vote.[SUP][5][/SUP] A potential conflict of interest identified by the Government Accountability Office is that some owners of proxy firms do business with both issuers and investors.[SUP][6][/SUP] In many cases, proxy firms have attempted to limit executive compensation.[SUP][7]
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MrFedEx

Engorged Member
Yep, if you are in stairwell B between the first and 6th floors.

It's largely symbolic, but the fact that it happened is significant. Times are changing at FedEx, and investors are starting to see that the man behind the curtain isn't a wizard at all.
 

Cactus

Just telling it like it is
It's largely symbolic, but the fact that it happened is significant. Times are changing at FedEx, and investors are starting to see that the man behind the curtain isn't a wizard at all.

The stockholders need to get their heads out of the sand for sure. Reading this forum would definitely open some eyes.
 

hypo hanna

Well-Known Member
I voted em all out. And nix that 16 mil stock option freebie. If you have stock, send in that vote.

I sold it all many years ago. Buying UPS now.

Interesting article on FedEx by Insidermonkey.com the other day. Pointed out that in the past six months at fedex, there have been 10 insider sales with zero buys and that the hedge funds are also selling off their holdings. If I did still own any FedEx, I would be selling it as fast as I could.
 

Cactus

Just telling it like it is
I'd love nothing more than to see Smith outside looking in.

New blood in this company has been needed for a long time now.
 

MrFedEx

Engorged Member
I'd love nothing more than to see Smith outside looking in.

New blood in this company has been needed for a long time now.

This company absolutely needs new leadership, but Smith doesn't show any signs of releasing control. Even if he does retire, his hand-picked successor is unlikely to deviate very far from the current script. As long as FedEx still makes money, the ongoing failure of the Express opco won't be a huge issue, since Ground profits will still be high. Overall, however, investors seems increasingly wary of FedEx.
 
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