This op-ed originally appeared in The Buffalo News on June 09, 2019. The politicization of pensions continues plaguing our state. In a misguided effort to fight climate change, State Sen. Liz Krueger introduced Senate bill 2126, the Fossil Fuel Divestment Act, earlier this year. This prompted an open letter from New York Comptroller Thomas DiNapoli, urging Krueger to reconsider […]
COMMENTARY: It’s Proxy Season And Here’s Why That Matters For Public Pensions
This op-ed originally appeared in Forbes on June 13, 2019. This is the time of year when publicly traded companies host their annual shareholder meetings. During these meetings the shareholders vote their shares on various issues impacting the company. The company’s proxy statement will include shareholder resolutions on everything from executive pay to proposals that impact how the company […]
Opinion/Letter: Divestment vote was doubly wrong – Christopher Burnham in the Charlottesville Daily Progress
This letter to the Editor originally appeared in the Charlottesville The Daily Progress on August 13, 2019 Charlottesville voted to divest from fossil fuels and national defense companies. The City Council of Charlottesville seeks to disassociate itself from companies that fuel our cars, heat our schools and businesses, or support our armed forces. As a Virginian and […]
Opinion/Letter: NY pensions deserve protection – Richard Brower in New York Daily News
This Letter to the Editor originally appeared in New York Daily News on September 21, 2019. Rockville Centre, L.I.: Re “Don’t be fuelish, Tom,” (Sept. 2): New York’s retirees served the state all of their lives. As a former vice chairman of the FDNY Pension Fund and advisory board member for the Institute for Pension Fund […]
LACERS Must Stand Up Against Divestment Pressure
As the new year begins, fiduciaries must remain vigilant against misguided abuse of our nation’s pensions. Those in charge of California’s retirees have a duty to manage the Los Angeles City Employees’ Retirement System (LACERS) with the sole objective of increasing returns. Forced divestment and politically-motivated financial decisions have been shown to compromise that outcome. […]
The SEC Is Right To Force More Transparency Into Proxy Voting
This article originally appeared in Forbes on January 31, 2020. The Securities and Exchange Commission is about to take an important first step in bringing accountability and transparency to the proxy voting world. For far too long pension funds have off-loaded their fiduciary duty to their beneficiaries to proxy advisory firms by outsourcing to them, the review […]
Robo-Voting: An Overview
Robo-voting: An Overview With the focus of government, business, and the media all centered on the singular issue of coronavirus, attention toward the upcoming proxy shareholder voting season has been moved to the back burner. Over the next few months, shareholders of publicly traded companies will be voting on various resolutions, including who sits on […]