{"id":1676,"date":"2008-05-28T00:21:56","date_gmt":"2008-05-27T16:21:56","guid":{"rendered":"http:\/\/maddruid.com\/?p=1676"},"modified":"2009-03-01T12:59:10","modified_gmt":"2009-03-01T04:59:10","slug":"1670-of-a-companys-only-responsibility-is-to-its-shareholders-but","status":"publish","type":"post","link":"https:\/\/maddruid.com\/?p=1676","title":{"rendered":"[1670] Of a company&#8217;s only responsibility is to its shareholders but&#8230;"},"content":{"rendered":"<blockquote><p>It could be the nuclear option to silence rebellious investors. A libertarian activist has hit back at ExxonMobil&#8217;s environmental critics by tabling a resolution that would outlaw shareholder social activism.<\/p>\n<p>The Free Enterprise Action Fund, which controls $11m (\u00a35.5m) of assets, has proposed amending Exxon&#8217;s articles of association to prevent the oil company&#8217;s shareholders from putting forward advisory resolutions at annual meetings.<\/p>\n<p>The fund&#8217;s managing partner, Steven Milloy, opposes a coalition led by the Rockefeller family that is calling on Exxon to pay more attention to global warming. &#8220;They&#8217;re not bona fide shareholders,&#8221; Milloy says. &#8220;They&#8217;re not shareholders who are invested in Exxon because they think it&#8217;s a good investment &#8211; they&#8217;re shareholders who want to use Exxon to advance their social and political agenda.&#8221; [<a href=\"http:\/\/www.guardian.co.uk\/business\/2008\/may\/27\/exxonmobil.oil\" target=\"_blank\"><em>Exxon investors propose ban on green activism<\/em><\/a>. Guardian. May 27 2008]<\/p><\/blockquote>\n<p>Looks like somebody in Exxon could not stand it anymore.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It could be the nuclear option to silence rebellious investors. A libertarian activist has hit back at ExxonMobil&#8217;s environmental critics by tabling a resolution that would outlaw shareholder social activism. The Free Enterprise Action Fund, which controls $11m (\u00a35.5m) of assets, has proposed amending Exxon&#8217;s articles of association to prevent the oil company&#8217;s shareholders from [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[236],"class_list":["post-1676","post","type-post","status-publish","format-standard","hentry","category-environment","tag-exxonmobil"],"_links":{"self":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1676"}],"version-history":[{"count":1,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1676\/revisions"}],"predecessor-version":[{"id":2657,"href":"https:\/\/maddruid.com\/index.php?rest_route=\/wp\/v2\/posts\/1676\/revisions\/2657"}],"wp:attachment":[{"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maddruid.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}