Goldman Sachs Group, the investment bank nicknamed
“Government Sachs” because of senior executives who have moved into public
posts, won’t be entering politics itself, Bllomberg notes.
A shareholder proposal that the New York-based company run
for office instead of funding political campaigns was discarded, according to a
letter last month from the Securities and Exchange Commission, which agreed the
firm can exclude the measure from its annual meeting.
Harrington Investments Inc. President John Harrington
submitted the proposal last year, saying the $6.39 million in 2012 political
contributions from the firm’s employees risks doing more harm to its
reputation. He said the bank should explore running for office, using a U.S.
Supreme Court ruling that corporations have similar political rights to
individuals….
More? Check out http://www.bloomberg.com/news/2013-03-25/goldman-rejects-proposal-that-firm-run-for-elected-office.html?cmpid=yhoo
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