Eliot Spitzer: New Technology Can Help Revive Shareholder Voting
Twitter, text messages, YouTube, and other technology transformed politics in 2008. This success raises a compelling question: Can the same technology awaken the more dormant world of corporate democracy? For decades, shareholders have abandoned their responsibility to use their votes to shape corporate behavior. But perhaps technology can revive democracy on Wall Street. Could shareholders, gathered by an emergency twitter message, soon converge on a shareholder meeting to demand a claw-back for ill-gotten bonuses? Could proxy voting in 2011 generate the same enthusiasm as actual voting did in 2008?