Shareholder proposals calling for disclosure of corporate political contributions and requiring board oversight of such spending have been filed at 47 companies so far this year, according to the Center for Political Accountability. Companies targeted include JPMorgan Chase & Co., Marsh & McLennan Cos. Inc. and Wachovia Corp. The proposals were filed by International Brotherhood of Teamsters General Fund, AFL-CIO Reserve Pension Fund and AFL-CIO staff retirement fund, all of Washington, and 23 other pension funds and other institutional investors.
"It is likely to be included in the proxy statement, which isn't out yet," Tom Kelly, JPMorgan spokesman, said of the proposal. JPMorgan's annual meeting is May 15, he added.
"We don't comment on shareholder proposals until they appear in the proxy statement," said Christy Phillips, spokeswoman at Wachovia.
Al Modugno, spokesman at Marsh & McLennan, didn't respond to a request for comment by press time.