The gap between active and passive votes has been persistent across years, and is larger for small capitalization stocks.
The case against passive shareholder voting.
"I don't understand from a governance perspective how they can be so passive on voting their clients' shares," Mr. Romick said.
It will not be clear for 30 days how the large passive investors voted, but given the strong result, it is most likely that they voted with Elliott.
"Rather than passive aggressively vote against each other at every election, let's make the divorce official and move in with our friends in Europe".
In Geneva, the normally passive United Nations Human Rights Council voted unanimously on Friday to suspend Libya's membership, but not before a junior delegate of the Libyan mission announced that he and his colleagues had resigned after deciding to side with the Libyan people.
The Department of Justice, which under Attorney General Jeff Sessions has taken a more passive stance on voting rights, declined to comment on Monday's news.
IT IS too soon to call it a trend, but the fact that America's normally passive shareholders have voted against executive pay packages at two big companies within a week suggests that something is going on.
It's one thing if the Senate actually voted people down, but the passive aggression of not voting simply brings the process, and in some cases the functioning of the government, to a halt.
Selling shares in Och-Ziff hedge fund in companys impending public offering; will remain passive investors, have no voting control over firms operations.
