Posts tagged with: Nathan Cummings Foundation

cummings275widthOne should always worry when dollar signs replace the letter “S” in discussions related to campaign finance and theology. For example, the title of Auburn Theological Seminary’s inaugural entry in its Applied Theology Series, “Lo$ing Faith in Our Democracy,” leaves little doubt there’s an unhidden agenda lurking within.

Auburn Theological is a seminary for continuing education for clergy. It doesn’t grant degrees, but seems to fancy itself a think tank of sorts. If the “scare dollar sign” in its Applied Theology title doesn’t give it away, perhaps the funding of the project will. According to the seminary’s website, the study “was funded in large part” by the Nathan Cummings Foundation (NCF), which is “rooted in the Jewish tradition and committed to democratic values and social justice.”

Along with As You Sow and the Interfaith Center for Corporate Responsibility, NCF is at the forefront of religious shareholder activists pushing progressive agendas, including remedying the U.S. Supreme Court’s Citizens United decision. (more…)

As keystroke was committed to screen in the writing of this post, J.C. Penney honcho Ron Johnson received his walking papers. This after it was announced last week that the ousted CEO had his pay cut 90 percent– tanking his 2012 salary to a mere $1.9 million from a sum north of $50 million in 2011.

With numbers like that, Johnson more than likely won’t apply for unemployment benefits anytime soon. But his compensation unfortunately will add more fuel to the fire of those proxy shareholders advocating for “say on pay” rules for upper management.

For example, The Nathan Cummings Foundation submitted a proxy shareholder resolution to Caterpillar Inc. that reads: “The shareholders … ask the board of directors to adopt a policy that incentive compensation for senior executives should include a range of non-financial measures based on sustainability principles and reducing any negative environmental impacts related to Company operations.”

According to its website, NCF “is rooted in the Jewish tradition and committed to democratic values and social justice, including fairness, diversity, and community. We seek to build a socially and economically just society that values nature and protects the ecological balance for future generations; promotes humane health care; and fosters arts and culture that enriches communities.” (more…)