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Paul Atkins

👤 Speaker
104 total appearances

Appearances Over Time

Podcast Appearances

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

And so you often every year for the annual general shareholder meeting,

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

you get a proxy statement in the mail.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

And oftentimes there is, you know, at least one or more, uh, things that, uh, shareholders are asked to vote on.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

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.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

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,

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

kind of extract from management concessions that advance the interests of these special interest groups.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

A part of it.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

ESG, DEI, that whole thing.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

So environmental activists, social activists.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

That sort of thing, you know, is what we're talking about here.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

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

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

make money for their shareholders through dividends and whatnot.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

And so these are really more side issues and not central to what's important for the economics of the company.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

So they're distractions.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

Well, that's one thing we'll be looking at as well.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

So all of this is, I mean, compare it to a boat.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

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.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

And so that's what we're going to try to do here.

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

But, you know, go through our rulebook and try to throw out things that

Morning Wire
Chairman Paul Atkins on Restoring America’s Capital Markets

don't deal with financial materiality of a company.