Every year, shareholders across the nation are asked to decide on companies' proposals ranging from executive pay plans to anti- takeover measures. But most individuals don't have outside counsel on how to vote.
They're launching a shareholder proposal to try to force Citigroup, Pfizer and other companies to pay for independent advice that all of their stockholders could use instead of just relying on management's opinion.
Mark Latham, a San Francisco-based financial economist and consultant, and his colleagues are asking six companies to put the idea to a shareholder vote at their annual meetings next spring. They include General Electric, Gillette, Warner-Lambert and Whole Foods Market Inc.