A new organization wants to create an online investor social networking site for U.S. shareholders to help drive financial market regulatory and corporate governance reforms.
Investors are invited to join the organization, ShareOwners.org, which started today and hopes to stimulate investor activity by giving investors the education they need, Richard Ferlauto, chairman of ShareOwners.org and director of pension and benefit policy at the American Federation of State, County and Municipal Employees, Washington, said in a webcast today. The $860 million AFSCME Pension Plan is an activist shareholder.
ShareOwners.org plans to enable investors to vote their proxies directly from the website, http://www.ShareOwners.org, as well as serving as a potential central venue for organizing and gaining shareholder support for shareholder proposals, Mr. Ferlauto said. He didnt have a time frame for the proxy voting capability.
The organization plans to develop a close relationship with pension funds, particularly public funds, to advance reform efforts, Mr. Ferlauto said.
Members can use the website to get shareholder-related information, contact members of Congress, post messages and reach out to other organization members, said Maureen Thompson, director.
The organization is also communicating through http://twitter.com/Shareowners.