Monday, September 25, 2017
I am an owner of Proctor and Gamble stock. I own a little over eleven shares. Currently the company is facing a proxy battle.
Here is what I know about proxies. They are ballots sent every year before a stockholders meeting. People vote for various directions they want the company to go and for board members. Most stock holders either vote the way the current board recommends, or they do not vote at all. I seldom send in my proxy.
There may be people who want to scold me for this.
“Your vote is important! You need to vote.”
Save your breath, my vote is not important, I don’t need to vote.
Currently there is a proxy battle at P+G. A very large stockholder wants to be on the board of directors and force the company to make changes. He argues the company has been underperforming lately. “Vote for me!”
The Company says they are making changes and the company is now moving in the right direction. “Vote for us!”
In the last month, I receive multiple phone calls and multiple mailings every day from each side saying, “Vote for me,” or “Vote for us!”
Unless I do some very heavy research, there is no way of me knowing if the large stockholder would be good for the company, or if he would be a giant pain in the ass who would force changes for short term gains at the long-term detriment of the company. I would need to read tons of literature and consult with many experts to decide if the current Board of Directors knows what they are doing or not.
After my many hours of research, most coming from experts with an agenda, would I really know what is best for Proctor and Gamble? Would my eleven plus votes really make a difference up against holders of millions of shares?
Mrs. C keeps pushing literature about the battle in my face. She says my vote must be important as both sides are spending a fortune on the campaign. I push the literature back.
Is a vote that is uninformed, or based on false or biased information really a valid vote? Is it possible to be informed when bombarded by experts on both sides who have Ivy League degrees in slanting information to win their point?
I don’t think so, so I vote no vote.