|
|
Article: Bill Patterson, AFL-CIO, says institutional investors should show independence from management. - PROXY VOTE REVIEW: LOOKING FOR UNION LABEL; AFL-CIO LISTS GOOD, BAD, MEDIOCRE.
- Article from:
- Pensions & Investments
- Article date:
- March 8, 1999
- Author:
CopyrightCOPYRIGHT 1999 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
J.P. Morgan, Fidelity, Strong Capital and Northern Trust are near the bottom of the money manager heap in the eyes of the AFL-CIO.
In a ranking of 106 managers based on how they voted on 40 key shareholder resolutions supported by organized labor in the 1998 proxy season, those four were among those that most often voted ``nay.''
This is the second year the AFL-CIO has conducted a proxy voting survey, but last year's effort was on a much smaller scale.
It was conducted by the Center For Working Capital, a non-profit entity affiliated with the AFL-CIO Office of Investment, Washington.
``We think it's important that institutional ...