funds had an obligation to become responsible “corporate citizens” and actually exercise the power their financial holdings gave them over corporate management. In 1988, his former DOL colleagues established proxy voting as a fiduciary duty of pension funds by the so-called “Avon Letter.” Compulsory voting of proxies was later extended to all other institutional investors, including mutual funds, under an SEC regulation in 2003.

Monks and his disciples justified the changes under the pretext of realizing the long-held goal of “shareholder democracy,” which, however, was all but irrelevant to proxy voting. A political project that had begun in the early 20th century, shareholder democracy was intended to lessen public distrust of corporations and to create social cohesion by distributing corporate shares to retail investors who had U.S. citizenship. InstitutionalAn outstanding soundtrack that seems to magically enhance every single
scene resonates throughout Adam Yauch's latest documentary exploration:
Gunnin' for That #1 Spot. Following the formula for typical
documentaries, Yauch examines eight high school basketballers vying for
recognition, college scholarships and attention from the NBA. But while
a few unique camera tricks are used to enhance the rudimentary
questioning of family and friends, Gunnin's #1 nemesis is the same
predicament far too many documentaries face: the subject matter. Highly
appealing to those interested in the topic, the film never breaks into
total entertainment for those not enmeshed in the frenzy and corrival
nature of an elite game at Rucker Park.

Eight high school kids, including Jarryd Bayless, Michael Beasley,
Kevin Love, Kyle Singler and Tyreke Evans, are gearing up for an
invitation to one of the most prestigious basketball events in