Wednesday, May 28, 2008

Activist shareholders

The Rockefeller family put their name behind several shareholder proposals to split the leadership, limit greenhouse gas emissions and encourage development of alternative fuels, proposals that were defeated at the recent annual meeting.

Currently, the CEO and Chairman of the Board positions at Exxon Mobile are tied up in a single individual, Rex Tillerson. Shareholders, including large institutional investors, are concerned that Exxon Tillerson's day to day responsibilities as CEO detracts from the Chairman's job of directing the company's strategy and thinking about the future of humanity. As even Exxon acknowledges the reality of global warming from human activity, many shareholders believe that they need to protect their investments by effectively countering the threat of global warming.

In the realm of politics, one time vice-presidential candidate Senator Joe Lieberman expressed his outrage over oil company profits and support for McCain's gas tax holiday.

Truck drivers blocked roads into London to protest high fuel prices, which have gone up over 20% in the UK since the beginning of this year.

Maybe it's time to ride a bike. I'm supposed to meet up with Josh Muir of Frances Cycles of Santa Cruz in the next couple of weeks. He's starting up production of some interesting cycletrucks this summer that should be interesting to see.

1 comment:

bikesgonewild said...

...i'm quite sure no matter what views are expressed publicly, that exxon mobile will do what's best for exxon mobile rather than being overly concerned "about the future of humanity"...

...these guys pay good money, so that experts (ie: manipulators) can convince you that they're doing what's best for 'everyone'...