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| Best Practices |
Action Figures
Suzanne McGee
08/02/2004
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However, some governance gurus believe that the success of Monks and
other mavericks may encourage more of us. “There’s at least the potential for
this community of well-to-do people to become a critical group of players in
corporate governance, in the same way we talk about soccer moms and NASCAR dads
in politics now,” says McGurn. “They can become, first of all, swing votes in
supporting these proposals, and maybe eventually provide the time and energy in
targeting more companies, ones that may not be on the radar screens of the big
institutions.” Taking Action
Tips from successful shareholder activists:
1.
Subscribe to a publication such as the Corporate Governance Fund Report
newsletter (www.corpgov.net). Although
typically these publications are written for institutional investors, individual
investors can use them to follow the progress of activists.
2. Read all
the proxy statements you receive; research the issues being decided at annual
meetings—and remember to vote.
3. Join an activist organization, such
as Responsible Wealth, that supports your goals, or invest in an activist fund
like Ralph Whitworth’s Relational Investors. Alternatively, invest in companies
targeted by corporate governance activists, and support their efforts.
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