US/UK - A cross-section of US institutional investors, state treasurers and labour unions have called on Tyco International to set a specific timetable for the company to make a decision on returning the company from Bermuda to US soil.
“The only way for shareholders to truly hold Tyco accountable is for the company to reincorporate in the US,” said American Federation of State, County and Municipal Employees president Gerald McEntee, whose union is sponsoring the Tyco shareholder resolution.
California State Treasurer Phil Angelides said the Come Home to America campaign is aimed at nearly two dozen US firms that have taken legal refuge in sham overseas addresses.
In the UK, trade unionists have been told they should use their power as shareholders to stop excessive executive pay and failings in corporate governance.
The TUC is targeting 900 members of its member trustee network.
These pension fund trustees have responsibility for invested funds amounting to around £260bn – one-third of total UK pension fund assets.
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
On balance the asset class is well-positioned for 2019, according to Eaton Vance