Been tryin to understand why they use the word Proxy...
Financial Dictionary
Proxy definition
1. An agent legally authorized to act on behalf of another party. Shareholders not attending a company’s annual meeting may choose to vote their shares by proxy by allowing someone else to cast votes on their behalf.
2. A formal power of attorney document that may be signed by a shareholder to authorize another shareholder, a representative of the shareholder or the company’s management, to vote on behalf of the shareholder at the annual meeting. Proxy statements must be filed with regulatory authorities (the Securities and Exchange Commission in the U.S.) on an annual basis prior to the company’s annual meeting. Proxy documents are meant to provide shareholders with the information necessary to make informed votes on issues important to the company’s performance. They are known to offer shareholders and prospective investors tremendous insight into a company’s governance as well as a glance at the way that a company’s management operates.
It just doesn’t make sense...
Investopedia Commentary
1. Management often encourages shareholders to vote by proxy so that ownership interests are fully represented even if shareholders are unable to attend the company’s annual meetings in person.
2. The proxy discloses important information about issues to be discussed at an annual meeting, lists the qualifications of management and board members, serves as a ballot for elections to the board of directors, lists the largest shareholders of a company’s stock and provides detailed information about executive compensation.
Related Links
Putting Management Under The Microscope
Three Documents You Shouldn’t Do Without
The Purpose and Importance of Proxy Voting
Lifting the Lid on CEO Compensation
See also: Common Stock, Cumulative Voting, Proxy Fight, Shareholder, Statutory Voting, Voting Right
Also spelled: proxies
HUH?...Why are citizens being asked to be Proxies?
You know, every time I’ve asked questions I’ve been told
“you don’t have to understand just do it.”
“it’s the government you just do what you’re told”
“stop asking questions, just do what you were hired to do.”
and even by a friend who is also doing the census
“just do the work and stop making an issue about it, it’s not like it’s a life or death manner”
I reminded her we pledged an oath to uphold the constitution, but that doesn’t mean anything to the uninformed. *shrug* Please know, I’m not defending it, just saying what is going on in my part of the country with the census.