Russ Berger, a physicist in Boise, would like employees to be represented on corporate boards, especially since they’re often sacrificed in layoffs or pay cuts to meet Wall Street expectations.
He also believes no one should be allowed to be CEO and chairman of the board at the same corporation.
To make his opinions known, Berger has begun to use Moxy Vote, a Pennsylvania-based social network created in 2009 to help shareholders, customers and citizens communicate with corporations on corporate governance and other issues, including environmental and social concerns. Founders say about 60,000 people use the site.
“Moxy Vote seems to provide a means to at least help stockholders voice their concerns to the boardrooms of their corporations — the modern way, via the Internet,” Berger said.
Most people likely share at least some of the anger over issues raised by the Occupy Wall Street protests, such as disparities in wealth and the coziness of business lobbyists and government officials, said Mark Schlegel, a founder of Moxy Vote.
But not everybody is going to camp out, and some are frustrated because they don’t know how to effect change, he said.
“Moxy Vote offers individuals a way to make a difference and take action" by working within the system, Schlegel said.
Through Moxy Vote, shareholders align their proxy votes with other shareholders to make a bigger impact, he said.
One of Moxy’s early successes in 2010 was the teaming up of small shareholders in On2 Technologies that forced Google to increase its offer for the company by 25 percent, Schlegel said.
Customers who don’t own stocks can sign letters on the website addressing issues with various companies. For instance, more than 7,400 people have signed a letter asking Bank of America to disclose its political contributions. A letter to CocaCola with more than 3,200 signatures asks the company to make sure its packaging is free of Bisphenol A (BPA), an industrial chemical that can potentially affect the brain and behavior, and prostate glands in fetuses, infants and young children.
“Moxy Vote is a great source for people who are voting their own proxies,” said Kathy Stearns, a Boise certified investment adviser with First Affirmative. “It really allows the little guys to get on the bandwagon.”
An independent website that doesn’t take sides, Moxy Vote also is inviting corporations to interact with stockholders and customers and answer their concerns, Schlegel said.
"We want companies to participate, communicating on proxy votes, telling their story, interacting with folks who don’t agree with them," he said.
Sandra Forester: 377-6464
