Hillary on CEO pay and her investing her money with Vanguard

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John, Hillary has rightly been speaking out about excessive CEO pay. Today;s (Sun May 17) NYT has a story about the percentage of shareholders in each of the 200 named companies that approve these excessive CEO pay packages.http://www.nytimes.com/2015/05/17/business/shareholders-votes-have-done-little-to-curb-lavish-executive-pay.html?I see from a story in the NYT two days ago that Hillary's own assets are invested in a Vanguard index fund. FYI Vanguard votes Hillary's shares to approve almost all these excessive CEO pay packages -- at a rate FAR WORSE than almost all other index fund managers (except Blackrock). The pension funds of several states and cities (e.g. NYC, Calif, Ohio, Florida) all vote much better than Vanguard on this and other issues. Vanguard also votes Hillary's shares against disclosure of political spending by corporations -- contrary to Hillary's position.The founder of Vanguard, Jack Bogle, has complained bitterly how the company he founded has voted so poorly on these two issues. The statistics on all this are detailed on Figure 5 on page 11 ofhttp://www.asyousow.org/wp-content/uploads/report/The-100-Most-Overpaid-CEOs.pdfas well as in Figure 2 on page 3 ofhttp://www.politicalaccountability.net/index.php?ht=a/GetDocumentAction/i/8720 I would suggest Hillary would be better served by using an index fund from some other supplier. In particular I would suggest the LONGVIEW fund run by Amalgamated Bank, but there are numerous others she could use (for example, Schwab). In the meantime she risks being charged with hypocrisy on the issue of excessive CEO pay and political spending by corporations -- i.e. speaking out against these issues but using her resources/money to vote to approve bad policies on these matters.If Hillary were to publicly switch from Vanguard for this reason she would generate a ton of publicity on the failure of many Wall Street fund managers to do their job in looking out for the interests of their investors.-- Steve Silberstein Delivered-To: [email protected] Received: by 10.25.24.94 with SMTP id o91csp3277046lfi; Sun, 17 May 2015 11:17:30 -0700 (PDT) X-Received: by 10.194.192.72 with SMTP id he8mr37858883wjc.11.1431886649897; Sun, 17 May 2015 11:17:29 -0700 (PDT) Return-Path: <[email protected]> Received: from BAY004-OMC2S7.hotmail.com (bay004-omc2s7.hotmail.com. [65.54.190.82]) by mx.google.com with ESMTPS id gj6si8713182wib.101.2015.05.17.11.17.29 for <[email protected]> (version=TLSv1.2 cipher=ECDHE-RSA-AES128-SHA bits=128/128); Sun, 17 May 2015 11:17:29 -0700 (PDT) Received-SPF: pass (google.com: domain of [email protected] designates 65.54.190.82 as permitted sender) client-ip=65.54.190.82; Authentication-Results: mx.google.com; spf=pass (google.com: domain of [email protected] designates 65.54.190.82 as permitted sender) [email protected]; dmarc=pass (p=NONE dis=NONE) header.from=hotmail.com Received: from BAY174-W21 ([65.54.190.125]) by BAY004-OMC2S7.hotmail.com over TLS secured channel with Microsoft SMTPSVC(7.5.7601.22751); Sun, 17 May 2015 11:17:01 -0700 X-TMN: [vQQqibAMb/HJSLY67syu4O17kujndvKM] X-Originating-Email: [[email protected]] Message-ID: <[email protected]> Return-Path: [email protected] Content-Type: multipart/alternative; boundary="_ab8ffe3b-81f7-4f64-a914-497bdb740c6f_" From: Steve Silberstein <[email protected]> To: John Podesta <[email protected]> Subject: Hillary on CEO pay and her investing her money with Vanguard Date: Sun, 17 May 2015 18:17:00 +0000 Importance: Normal MIME-Version: 1.0 X-OriginalArrivalTime: 17 May 2015 18:17:01.0499 (UTC) FILETIME=[AB9330B0:01D090CD] --_ab8ffe3b-81f7-4f64-a914-497bdb740c6f_ Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable John=2C Hillary has rightly been speaking out about excessive CEO pay. Toda= y=3Bs (Sun May 17) NYT has a story about the percentage of shareholders in = each of the 200 named companies that approve these excessive CEO pay packag= es.http://www.nytimes.com/2015/05/17/business/shareholders-votes-have-done-= little-to-curb-lavish-executive-pay.html?I see from a story in the NYT two = days ago that Hillary's own assets are invested in a Vanguard index fund. F= YI Vanguard votes Hillary's shares to approve almost all these excessive CE= O pay packages -- at a rate FAR WORSE than almost all other index fund mana= gers (except Blackrock). The pension funds of several states and cities (e.= g. NYC=2C Calif=2C Ohio=2C Florida) all vote much better than Vanguard on t= his and other issues. Vanguard also votes Hillary's shares against disclosure of political spendi= ng by corporations -- contrary to Hillary's position.The founder of Vanguar= d=2C Jack Bogle=2C has complained bitterly how the company he founded has v= oted so poorly on these two issues. The statistics on all this are detailed on Figure 5 on page 11 ofhttp://www= .asyousow.org/wp-content/uploads/report/The-100-Most-Overpaid-CEOs.pdfas we= ll as in Figure 2 on page 3 ofhttp://www.politicalaccountability.net/index.= php?ht=3Da/GetDocumentAction/i/8720 I would suggest Hillary would be better served by using an index fund from = some other supplier. In particular I would suggest the LONGVIEW fund run by= Amalgamated Bank=2C but there are numerous others she could use (for examp= le=2C Schwab). In the meantime she risks being charged with hypocrisy on th= e issue of excessive CEO pay and political spending by corporations -- i.e.= speaking out against these issues but using her resources/money to vote to= approve bad policies on these matters.If Hillary were to publicly switch f= rom Vanguard for this reason she would generate a ton of publicity on the f= ailure of many Wall Street fund managers to do their job in looking out for= the interests of their investors.-- Steve Silberstein = --_ab8ffe3b-81f7-4f64-a914-497bdb740c6f_ Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <html> <head> <style><!-- .hmmessage P { margin:0px=3B padding:0px } body.hmmessage { font-size: 12pt=3B font-family:Calibri } --></style></head> <body class=3D'hmmessage'><div dir=3D'ltr'><span class=3D"Apple-style-span"= style=3D"color: rgb(68=2C 68=2C 68)=3B font-size: 15px=3B line-height: 21p= x=3B ">John=2C<div style=3D"line-height: 21px=3B "> =3BHillary has righ= tly been speaking out about excessive CEO pay. Today=3Bs (Sun May 17) NYT h= as a story about the percentage of shareholders in each of the 200 named co= mpanies that approve these excessive CEO pay packages.</div><div style=3D"l= ine-height: 21px=3B "><br style=3D"line-height: 21px=3B "><div style=3D"lin= e-height: 21px=3B "><div dir=3D"ltr" style=3D"line-height: 21px=3B "><div s= tyle=3D"line-height: 21px=3B "><a href=3D"http://www.nytimes.com/2015/05/17= /business/shareholders-votes-have-done-little-to-curb-lavish-executive-pay.= html?" target=3D"_blank" style=3D"line-height: 21px=3B font-weight: inherit= =3B text-decoration: underline=3B color: rgb(0=2C 104=2C 207)=3B cursor: po= inter=3B ">http://www.nytimes.com/2015/05/17/business/shareholders-votes-ha= ve-done-little-to-curb-lavish-executive-pay.html?</a></div><div style=3D"li= ne-height: 21px=3B "><br style=3D"line-height: 21px=3B "></div><div style= =3D"line-height: 21px=3B ">I see from a story in the NYT two days ago that = Hillary's own assets are invested in a Vanguard index fund. =3B</div><d= iv style=3D"line-height: 21px=3B ">FYI Vanguard votes Hillary's shares to a= pprove almost all these excessive CEO pay packages -- at a rate FAR WORSE t= han almost all other index fund managers (except Blackrock). The pension fu= nds of several states and cities (e.g. NYC=2C Calif=2C Ohio=2C Florida) all= vote much better than Vanguard on this and other issues.<br style=3D"line-= height: 21px=3B text-indent: 0px !important=3B "></div><div style=3D"line-h= eight: 21px=3B "><br></div></div></div></div></span><span class=3D"Apple-st= yle-span" style=3D"color: rgb(68=2C 68=2C 68)=3B font-size: 15px=3B line-he= ight: 21px=3B "><div style=3D"text-indent: 0px !important=3B line-height: 2= 1px=3B ">Vanguard also votes Hillary's shares against disclosure of politic= al spending by corporations -- contrary to Hillary's position.</div><div st= yle=3D"text-indent: 0px !important=3B line-height: 21px=3B ">The founder of= Vanguard=2C Jack Bogle=2C has complained bitterly how the company he found= ed has voted so poorly on these two issues.</div><div><br></div></span><spa= n class=3D"Apple-style-span" style=3D"color: rgb(68=2C 68=2C 68)=3B font-si= ze: 15px=3B line-height: 21px=3B "><div style=3D"line-height: 21px=3B "><di= v style=3D"line-height: 21px=3B "><div dir=3D"ltr" style=3D"line-height: 21= px=3B "><div style=3D"line-height: 21px=3B ">The statistics on all this are= detailed on Figure 5 on page 11 of</div><div style=3D"line-height: 21px=3B= "><a href=3D"http://www.asyousow.org/wp-content/uploads/report/The-100-Mos= t-Overpaid-CEOs.pdf" target=3D"_blank" style=3D"line-height: 21px=3B font-w= eight: inherit=3B text-decoration: underline=3B color: rgb(0=2C 104=2C 207)= =3B cursor: pointer=3B ">http://www.asyousow.org/wp-content/uploads/report/= The-100-Most-Overpaid-CEOs.pdf</a></div><div style=3D"line-height: 21px=3B = ">as well as in Figure 2 on page 3 of</div><div style=3D"line-height: 21px= =3B "><a href=3D"http://www.politicalaccountability.net/index.php?ht=3Da/Ge= tDocumentAction/i/8720" target=3D"_blank">http://www.politicalaccountabilit= y.net/index.php?ht=3Da/GetDocumentAction/i/8720</a></div><div style=3D"line= -height: 21px=3B "><br></div><div style=3D"line-height: 21px=3B ">I would s= uggest Hillary would be better served by using an index fund from some othe= r supplier. In particular I would suggest the LONGVIEW fund run by Amalgama= ted Bank=2C but there are numerous others she could use (for example=2C Sch= wab). In the meantime she risks being charged with hypocrisy on the issue o= f excessive CEO pay and political spending by corporations -- i.e. speaking= out against these issues but using her resources/money to vote to approve = bad policies on these matters.</div><div style=3D"line-height: 21px=3B "><b= r style=3D"line-height: 21px=3B "></div><div style=3D"line-height: 21px=3B = ">If Hillary were to publicly switch from Vanguard for this reason she woul= d generate a ton of publicity on the failure of many Wall Street fund manag= ers to do their job in looking out for the interests of their investors.</d= iv><div style=3D"line-height: 21px=3B ">-- Steve Silberstein</div><div><br>= </div></div></div></div></span> </div></body> </html>= --_ab8ffe3b-81f7-4f64-a914-497bdb740c6f_--