And Exxon would have invested a lot more if Blackrock hadn’t effectively used its proxy votes to engineer a hostile takeover of the board of directors by inserting two environ-MENTAL-ists. Exxon was to increase oil exploration and production by 20%, but if Glenn Beck is correct, the Blackrock maneuver now means they’re decreasing that activity by about 20%.
Yup, Black Rock, State Street and Van Guard control stockholder voter rights. Very bad.