Article: Second Proxy Firm Spurns Pay Proposal for Atlanta-Based Apartment Company.

Byline: Walter Woods

May 20--A second corporate governance group has declined to endorse John Williams' attempt to change policy at Post Properties, the Atlanta-based apartment company he started and used to run.

Williams, who owns 5 percent of Post, insists Chairman Robert Goddard makes an "egregious" amount of money and wants shareholders to approve future pay packages for Post directors.

The firm is against his proposal, calling it an expensive distraction.

Shareholders will decide the question May 27 at the company's annual meeting.

Glass, Lewis & Co., a California corporate governance group, is siding with management. ...

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