posted on Apr, 23 2014 @ 03:18 PM
I came across this article at work just before my shift and thought it was sort of interesting.
General Dynamics is an American aerospace and defense company, some background can be found here
to get started with if you want.
The article discusses an announcement made by General Dynamics to no longer make contributions to political organizations or nonprofit groups that
provide money to campaigns and causes.
The decision, which was noted in a company filing with the Securities and Exchange Commission Monday, comes in response to a shareholder proposal
concerning lobbying disclosure. That proposal, which was made by the New York State Common Retirement Fund that owns 960,716 shares of common stock,
requests that the board of directors authorize an annual report disclosing lobbying policy and procedures, payments made by the company for direct and
indirect and grassroots lobbying communications, and membership in and payments to tax-exempt organizations that write and endorse model
On the surface I think this is a good start for some kind of transparency at least. Shareholders voiced concerns that they have no way of knowing how
much of the company's money is being used to lobby government.
The part that made me most interested is at the end of the article where it says:
"The company’s board of directors continues to believe that the report requested in [the proposal] is not necessary and recommends a vote
against the proposal," General Dynamics noted in the filing.
I haven't been able to look for the actual text of the proposal yet, but based on the article it seems that the Board of Directors certainly wants to
keep lobbyist money flowing in order to keep government money flowing back.
Anyway, thought some of you may be interested based on the decision of the company and the Board's comment.