Kellwood shareholders nix Connecticut proposal

Kellwood Co. shareholders defeated a proposal sponsored by the $20 billion Connecticut Retirement Plans & Trust Funds, Hartford, calling for a report on the company's monitoring procedures of its international facilities and suppliers. The $52 billion New York City Retirement Systems and Amalgamated Bank's LongView Investment Funds co-sponsored the proposal. According to a board statement, Kellwood has a formal social responsibility program that "includes specific monitoring steps developed to verify that our suppliers are following our code of conduct. A report on our program is published on our website and will be updated periodically." As a result, the proposal was unnecessary, according to the statement.