VoterMedia Newsletter #24 - February 2007
Written by Mark Latham
IN THIS ISSUE:
1. World’s First Test of Voter-Funded Media – at UBC
2. “Proxy Voting Brand Competition” Published
3. New Name & Website: VoterMedia.org
4. Microsoft Shareowners Reject Proxy Advisor Proposal
5. Media Reform Conference in Memphis, January 2007
1. WORLD’S FIRST TEST OF VOTER-FUNDED MEDIA – AT UBC
The University of British Columbia student council election has just completed the world’s first implementation of a voter-funded media (VFM) system! The council will soon conduct a formal review of its impact on their democracy. But you can judge for yourself by reviewing the media entries, which are mostly on the web and linked from www.votermedia.org/democracy/UBCcontestants.html.
The new UBC media provided great breadth and depth of insight into candidates, platforms and policy issues. A big surprise for me was how much fun they had doing it! But judging from the balloting results, not enough voters have yet learned what these new media have to offer. So in VFM's first time up to bat, it didn't hit a home run, but got to second base.
See my VoterMedia blog for analysis and future developments:
http://votermedia.blogspot.com/2007/02/ubc-ams-elections-vfm-results.html
2. “PROXY VOTING BRAND COMPETITION” PUBLISHED
The Journal of Investment Management has just published my article “Proxy Voting Brand Competition” in their First Quarter 2007 issue. It presents updated views on how voter-funded media (proxy advisory firms paid with corporate funds) can improve corporate governance, and how individual investors can coordinate their voting with institutional investors. I paid the journal $900 for the right to post this article at www.votermedia.org/publications where you can now download it for free.
3. NEW NAME & WEBSITE: VOTERMEDIA.ORG
The new website www.votermedia.org encompasses application of voter-funded media both to democracies and to corporations. It has absorbed most of the material from www.turbodemocracy.org, which I plan to phase out soon. www.votermedia.org links to corporate governance material on www.corpmon.com, which I plan to copy and phase out gradually.
Likewise I have changed this publication’s name from The Corporate Monitoring Newsletter to The VoterMedia Newsletter.
4. MICROSOFT SHAREOWNERS REJECT PROXY ADVISOR PROPOSAL
I presented a voter-funded media (proxy advisor) proposal to fellow Microsoft shareowners at our annual general meeting on November 14, 2006. See www.votermedia.org/corporations/MSFT20061114.html for the proposal text, board recommendation against, my rebuttal and AGM speech.
The proposal was supported by only 2% of shareowners voting! It was the lowest result in the 7-year history of this campaign (see www.corpmon.com). The highest was 20% support at Oregon Steel in 2004. One pattern that emerges from our voting results is that shareowners seem more conservative at larger firms. It makes sense to try a new idea at a smaller firm first, then extend it to larger firms if it proves beneficial.
5. MEDIA REFORM CONFERENCE IN MEMPHIS, JANUARY 2007
The National Conference for Media Reform held in Memphis last month was the most exciting conference I've ever attended! See www.freepress.net/conference for full listing and free download audio of all sessions, plus video of main speeches.
Speakers: Amy Goodman, Jane Fonda, Jesse Jackson, Danny Glover, Bill Moyers and many more. Topics included:
- concentration of media ownership
- internet neutrality
- intellectual "property"
- future of public broadcasting
- role of media in politics
- plus a wide range of other media issues
Over 3000 people attended. The media reform movement is growing fast! Following the success of voter-funded media at UBC, I bet this movement will pick it up and run with it.
VOTERMEDIA.ORG CONTACT INFORMATION
Voicemail: (604) 608-9779
Paper mail: Mark Latham, 1755 Robson Street #469,
Vancouver, B.C., Canada V6G 3B7
My email address is mark[at]votermedia.org
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