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It would allow shareholders controlling more than 5% of a firm's shares, which they must have held for at least two years, to nominate just two rival candidates not enough to control the board on the official proxy.
An attempt in 2003 by William Donaldson, then SEC chairman, to allow shareholders to nominate directors on the company proxy was shelved when bosses objected.Shareholder activists then hit upon a strategy that, it seemed, bosses could not block: voting to change company bylaws to allow contested elections on the official proxy.
At the same time, he said, it would be permissible for a lawyer representing a unit owner to be present at a unit owners' meeting, and participate in discussions, if the lawyer has been given an official proxy by the unit owner.
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It provides voters with historical context and full disclosure: it distinguishes ads that are created by the candidate's official team from proxy attacks paid for by nonprofit but highly partisan political organizations — a technique now known by the 2004 term "Swiftboating".
But two top administration officials publicly supported proxy access, and the Senate version in particular, at the Council of Institutional Investors annual conference in April.
One Pakistani official called the Taliban "proxy forces to preserve our interests".
El Paso, meanwhile, has hired the balloting agency IVS Associates of Delaware to tally the official vote on the proxy dispute, a process that could take several weeks.
Last week, however, the independent inspectors making the official count in the proxy fight said their preliminary tally gave Hewlett-Packard the edge by some 45 million shares -- a slender but significant margin.
The CAAD may also underestimate the true value of China's development finance flows since not all projects were valued and the use of triangulating news reports to government reports accessible to the public is only a proxy for official government reporting.
"If Syrian President Assad reacts by attacking Israel, or tries to strike Israel through his terrorist proxies," the official said, "he will risk forfeiting his regime, for Israel will retaliate".
"Because company performance fell short of our objectives in fiscal 2001," Lucent officials wrote in the proxy statement, "we decided not to award bonuses for company or individual performance until we meet the objectives of our business plan".
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CEO of Professional Science Editing for Scientists @ prosciediting.com