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The idea might also deprive big shareholders of a chance to nominate board members.
A proposal to allow some stock owners to nominate board candidates failed with only 39.8 percent of voters supporting it.
The rule, which allows shareholders who own 3 percent of a company to nominate board members to corporate ballots, was narrowly passed by the S.E.C. in August.
It gave preliminary approval to a plan for shareholders to nominate board members through proxy statements, a company's official ballot paper.
DOW JONES Wausau Paper Agrees to Nominate Board Candidates | The Wausau Paper Corporation reached a deal with the hedge fund Starboard Value, its largest shareholder, to nominate directors supported by Starboard, Dow Jones Newswires reports.
Short-term investors in America and Europe, it said, were using new powers such as the ability to nominate board directors to push for actions which could damage credit quality.
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BLOOMBERG NEWS Icahn Nominates Board Members for Forest Laboratories | Carl C. Icahn, who controls 9.9 percent of Forest Laboratories stock, is trying again to get his nominees on the drug company's board after failing in August, Bloomberg News reports.
CoreLogic's stock dropped 34.5 percent the next day While CoreLogic had recently extended the period for nominating board members to March 9, Highfields has not yet put forth a slate.
Pleading insolvency, the Barnes Foundation served Lincoln with the equivalent of surprise divorce papers on Sept. 24, claiming that the Barnes's small Lincoln-nominated board has long been unable to provide for the priceless cache of Renoirs, Matisses, Cézannes and several thousand other masterworks now housed in the foundation's suburban gallery 50 miles from Lincoln.
It can appeal the regional director's decision to the full board in Washington, but there's a good chance the President Barack Obama-nominated board members will simply affirm the regional director's ruling.
The rumor is that Governor Rick Perry could now nominate another board creationist, Cynthia Dunbar, to the chair's post.
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