standard for outside spending.
Contention 2: Activism
Subpoint A: Shareholder Activism prevents companies from controlling thepolitical atmosphere.
Yet the real pressure points, or at least the most consistent ones, are likelier tobe felt among
shareholders who may be upset over negative consumer opiniontriggered by a donation, or who are themselves directly opposed to a particulardonation.
, about which we’ve written so frequently in
[which] is thus a salient countervailing force against the oligarchic trendspurportedly unleashed by
And corporations know it, as themounting number of voluntary disclosures clearly suggests.
Consider the Center for Political Accountability
itself as a barometer of theactivist sea change.
According to its
reports, shareholders working withCPA have filed a total of 51 resolutions in 2012
Of those, 13 led to agreementswith the company.
For example, theNew York State Pension Funds
Safeway, Kroger, CSX Corp.,Sempra Energy,R.R.
Donnelley & Sons, and Reynolds American.Trillium Asset Management
“reached agreements” with
Halliburton, Chubb Corp, andState Street Corp.