Tag Archives: oversight

Target Corp. and Best Buy Co. institutional shareholders urge Target to look at political giving

MINNEAPOLIS (AP) — A few Target Corp. and Best Buy Co. institutional shareholders weighed in Thursday on the flap over the companies' political donations in Minnesota, urging the boards of both retailers to increase their oversight of campaign contributions. Walden Asset Management and Trillium Asset Management Corp., both of Boston, and Bethesda, Md.-based Calvert Asset Management Co. filed shareholder resolutions with both companies. Together, the three firms control less than 1 percent of each company's outstanding shares – 1.1 million Target shares worth $57.5 million and 344,000 Best Buy shares worth $11.3 million – but they are moving the debate over the political giving to a new arena. “A good corporate political contribution policy should prevent the kind of debacle Target and Best Buy walked into,” said Trillium vice president Shelley Alpern. “We expect companies to evaluate candidates based upon the range of their positions – not simply one area – and assess whether they are in alignment with their core values. But these companies' policies are clearly lacking that.” The shareholders said the donations don't mesh with corporate values that include workplace protections for gay employees and risk harming the companies' brands. Walden senior vice president Tim Smith said such giving can have “a major negative impact on company reputations and business.” The Target resolution urges the board to review the effect of future political contributions on the company's public image, sales and profitability and to consider the cost of backing a candidate whose politics conflict with the company's public stances. The three investment companies together submitted the resolution to Target, while Calvert and Trillium filed the Best Buy shareholder proposal. One of Trillium's clients, the Portland, Ore.-based Equity Foundation, divested a small Target holding of 170 shares on Wednesday. added by: toyotabedzrock

Cheney’s push of deregulators led to BP disaster

Lobbyists & Executives in charge of regulation. Most of our military bases in middle east are built near existing or proposed Oil pipe lines. – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – If it was supervised, if it was overseen, if it was regulated by the federal government, Cheney with his marvelous bureaucratic talent moved in and essentially replaced the people who were in the positions that were central to this regulation, this oversight, with people who were either lobbyists for the industry being regulated or executives from that industry. About Lawrence Wilkerson: Lawrence Wilkerson is a retired United States Army soldier and former chief of staff to United States Secretary of State Colin Powell. http://www.progressivenewsdaily.com/?p=4206 added by: Stoneyroad

Toyota Demands Retraction and Apology From ABC News Over Manufactured Death Ride [Threats]

Toyota’s general counsel is calling on ABC News president David Westin to retract and apologize for a cocked-up story by America’s Wrongest Reporter, Brian Ross . Last month, Ross filed a report featuring a test conducted by David Gilbert, an Illinois professor who claimed to have found a way to induce unintended acceleration in Toyotas without triggering an error code that would allow mechanics to diagnose the problem. The exercise was supposed to prove that it’s theoretically possible for Toyotas to accelerate without command and then show no sign of having done so later on. Ross himself took a little on-camera death ride. And to make it seem even scarier, he took a staged shot of a surging tachometer taken while the car was parked and stitched it in to the piece to make it look like it was happening while he was driving . ABC News later changed the online version of the story after we asked them about the fakery. The story had other problems, according to Toyota: As the company demonstrated in a lengthy online rebuttal, Gilbert’s test almost certainly can’t be replicated under real-world conditions . He essentially rewired a Toyota to do what he wanted it to do—accelerate without command and without generating an error code—which is kind of like leaving the gas on a stove on for a few hours and lighting a match to prove that America’s kitchens are littered with millions of ticking timebombs. Engineers from Stanford working on Toyota’s behalf were able to rewire a Subarus, Honda, Chevrolet, and Ford in the same manner. And Ross didn’t disclose in his report that Gilbert had previously been paid as a consultant by Sean Kane, an investigator working for plaintiff’s lawyers in lawsuits against Toyota, and has an agreement with Kane paying him $150 an hour for work “going forward.” In the March 11 letter, a copy of which was provided to Gawker by a source close to Toyota, the company says Ross “singularly failed in his basic duty as a journalist to disclose material information about Professor Gilbert that would have directly influenced his credibility with the audience.” It also accuses him of “rush[ing] out his report on the eve of important congressional hearings concerning Toyota” and failing to offer the company an opportunity to examine Gilbert’s test before responding. Indeed, on February 23, the day after Ross’ story aired, Gilbert testified before the Oversight and Investigations Subcommittee of the House Energy and Commerce Committee, and the death-ride came up. Read the full letter, which ends with the veiled boilerplate threat that “Toyota reserves the right to take any and every appropriate step to protect and defend the reputation of our company and its products from irresponsible and inaccurate claims,” below. A good reporter knows when he gets letters like this that he’s doing his job. Unfortunately, Brian Ross is not a good reporter. And he’s been off the radar at a particularly sensitive time—Ross hasn’t covered Toyota since the furor over his report erupted. An ABC News spokesman says he’s in the midst of a “long-planned vacation,” and that ABC is “in receipt of Toyota’s letter. Our lawyers are looking at it, and we will respond.”

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Toyota Demands Retraction and Apology From ABC News Over Manufactured Death Ride [Threats]