Paul Atkins
👤 SpeakerAppearances Over Time
Podcast Appearances
And so you often every year for the annual general shareholder meeting,
you get a proxy statement in the mail.
And oftentimes there is, you know, at least one or more, uh, things that, uh, shareholders are asked to vote on.
So those have been weaponized over the years by politicized shareholder activists who are pushing social agendas and other, they have their ax to grind about something.
Most of these things don't get adopted by the shareholders at the annual meeting, but it's used to pressure management in order to, uh,
kind of extract from management concessions that advance the interests of these special interest groups.
A part of it.
ESG, DEI, that whole thing.
So environmental activists, social activists.
That sort of thing, you know, is what we're talking about here.
So this is a way to, that's why companies, I mean, these things are not central to why or how, in general, how a company makes money for its, that's what they're in the business for after all is to
make money for their shareholders through dividends and whatnot.
And so these are really more side issues and not central to what's important for the economics of the company.
So they're distractions.
Well, that's one thing we'll be looking at as well.
So all of this is, I mean, compare it to a boat.
You know, if you have a boat and you don't tend to it at least every year and scrape the barnacles off, you know, you're going to slow down its process through the water.
And so that's what we're going to try to do here.
But, you know, go through our rulebook and try to throw out things that
don't deal with financial materiality of a company.