4 Financial Stock Stories For the Savvy Investor on Thursday
Goldman Sachs Group (NYSE:GS): Current price $149.79
For the second consecutive year, Goldman Sachs turned aside a shareholder proposal that could have caused an embarrassing public vote to strip Chief Executive Lloyd Blankfein of his chairman’s title. By allowing modest changes to the group’s governance policies, Blankfein once again potentially averted the kind of unpleasantness suffered by Chief Executive and Chairman Jamie Dimon, of JPMorgan Chase & Co. (NYSE:JPM), who faced substantial opposition on a similar vote in 2012, or Citigroup’s (NYSE:C) then-Chief Executive Vikram Pandit, whose executive pay plan was turned down by shareholders also last year. Also at Goldman Sachs, CtW Investment Group, an adviser to union pension funds with $250 billion of assets, announced on Wednesday that it would withdraw its proxy proposal requesting a split after the company agreed to give Goldman’s lead director, James Schiro, new powers like setting board agendas and writing his own annual letter to shareholders.
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