The AFL-CIO, which federates 57 American unions, is getting more and more weight as an investor in large American companies. Thus, on May 21, AFL-CIO activists went to the annual meeting of First Energy, in Virginia, to object to CEO Anthony Alexander’s competitiveness. The union’s proposals were rejected but it considers that its influence is growing on these issues. (Ref. 130347)
Even though the union shareholders have lost, their actions are having a greater impact on the votes cast by other investors. The Institutional Shareholders Services and Glass Lewis, two organizations advising shareholders, are now more inclined to agree with the AFL-CIO, and they denounce the mediocre performance recorded by the group, a group of 10 power supplies in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
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