29 May AGMS – THE NEW CULTURE WARS BATTLEGROUND; DEBT WEIGHS ON WORKERS
AGMS – THE NEW CULTURE WARS BATTLEGROUND
As Australian listed companies get ready for AGM season (already?), there are indications in the US of a backlash against boards that take a stand on what are seen as controversial issues, such as climate change and abortion rights.
According to The Wall Street Journal, the number of formal motions put on the notice paper by shareholders questioning the social stance taken by their companies jumped to a record 74 for meetings held in the 12 months to May 31.
By comparison, there were just 43 such motions or proposals in the previous 12 months.
The paper quoted Heidi Welsh, from a not-for-profit shareholder advisory firm, as saying: “Companies are getting dragged into partisan fights that they don’t want to be in, but they can’t avoid it anymore.”
DEBT WEIGHS ON WORKERS
Nearly half of Australian workers say they are feeling overwhelmed by debt as inflation and rising energy bills continue to bite.
A survey of 1,000 employed people by the ABC/Telus Health found that mental wellbeing has fallen to similar levels last recorded in August 2021, when much of Australia was in COVID-19 lockdowns. Of greater concern, seven in ten of those surveyed said they had not reached out for help.
Mental health experts are urging those facing financial pressures to seek support early and to speak to landlords, energy suppliers or financial institutions for help with paying bills.
WALKLEYS, PLEASE EXPLAIN
Australia’s best known journalism awards, The Walkleys, has decided to axe one of the competition’s most keenly followed categories – the prize for the best headline, “hook” or caption.
And not everyone is happy, according to The Australian, with some editors complaining the decision ignores the contribution of behind-the-scenes or production journalists, such as sub-editors.
It means no more gongs for headlines such as this memorable effort by the NT News, back in 2014, following the very public stoush at Bondi between billionaire Kerry Packer and his then-mate David Gyngell.
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