Read, understand and consent to the blog's DISCLAIMER here before proceeding to read the article
Please sign the Shareholder petition with SEC PETITION link and share it with as many shareholders as possible.
Let me start this post by way of a short self-introduction. I am a retail investor and have been buying and selling stocks for well over 14 years. A large part of my sweat from my prior day job & my net worth is invested in public companies. I consider my calling to invest in public equities. On the side, I intend to serve words of ethical wisdom to Board members of ALL public companies, with the intent make them more mindful in doing their duties towards Shareholders. I am hoping Board members of at least 50 public companies can see this wisdom and take the below pledge of ethics.
I also like to see 1 calendar day in the year dedicated to Shareholders called 'Shareholder Day' (If we can have 'Presidents day', 'Veterans Day','Yoga Day' - I think the most significant and often ignored constituent in the modern economy, who in aggregate, have invested Trillions of dollars, the Shareholder deserves a day.) where Board members of ALL public companies take/renew the 'Pledge of ethics' in front of their Shareholders. Many companies already do annual Investor/Analyst day. I am suggesting 3 changes: Nomenclature change-call it Shareholder day and not analyst/investor day, Make it a Common Day for ALL public companies & Have Board members take the Pledge of ethics in front of the company's own Shareholders. I am going to lobby with SEC, NYSE and shareholder advocates like Carl Icahns or Ackmans for making 'Shareholder Day' and 'Pledge of Ethics' a reality.
The lynchpins of our modern capital market system are the following (and regrettably this is getting forgotten and needs to be reminded):
1. Shareholder Capital that allow entrepreneurs to start or grow business. This is capital produced by the sweat of ordinary people in many instances life savings.
2. Board that is appointed to SERVE interests of Shareholders(Absentee owners) and the implicit Trust that shareholders have in Board that they will do the right thing for all Shareholders
That said, I will make the following plea to Boards of ALL public companies and urge them to take 'The Shareholder Pledge'.
Dear Board Members,
Subject: Please take 'The Shareholder Pledge'
You are stewards of the capital produced by the sweat of ordinary people from all walks of life (Teachers, Software Programmers, Firefighters, Policemen, Nurses, etc). who have invested, in some cases life savings, for their retirement, education of their children, paying a mortgage in future, etc. It is these Shareholder's(Absentee owners) VOICE YOU are SERVING and you have an ETHICAL DUTY to protect and maximize value and conduct in EARNESTNESS and FAIRNESS at ALL times towards ALL shareholders.
Please be conscious of these EVILS: Entrenchment, Cronyism, Quid-pro-quo'ism(Eg: I'll be rubber-stamp to CEO because he nominated me to the Board), Self-Aggrandizement, Conflict of Interest/Self-Dealing, Lack of Earnestness and Fairness. Please take the PLEDGE of ETHICS that you will TRASCEND the aforementioned behaviors and truly surrender yourself in the SERVICE of ALL your Shareholders At ALL times by signing the below form.
If you are a Shareholder and you would like to petition a particular Board member in your company to take this pledge, fill this form link.
If you like the idea of 'Pledge of Ethics' or 'Shareholder Day', please share this post.
If you like to receive free updates on stocks directly to your email inbox, click on the subscribe via mail icon situated on the top right of this blog.