The 2013 proxy shareholder season is over, resolutions debated into their respective win/loss columns and reports filed. This hasn’t stopped those shareholder Godflies – the clergy, nuns and other religious on the left – from firing the first salvos for 2014 corporate battles. Among the companies targeted for the initial fusillade is General Mills Inc., purveyor of such perceived market atrocities as the Cheerios breakfast cereal and Yoplait yogurt. Specifically, the company’s packaging practices and use of genetically modified organisms has come under fire
Mind you, your writer has nothing against reasonably priced foods as part of a healthy, affordable breakfast. In fact, Cheerios was a “get-up-and-go” staple of this former farm boy’s life. Continuing the trend, a bag of those little grainy nuggets of morning goodness served church going well by quieting my rambunctious toddlers during innumerable Sunday masses. I do, however, rankle when so-called “religious” activists employ bad science to drive up food prices for those least able to afford it, especially families with young children.
As You Sow, a nonprofit shareholder advocacy group allied with such Godflies as the Interfaith Center on Corporate Responsibility and “social responsibility investment” firms Walden Asset Management and Trillium Asset Management presented a resolution to General Mills this past month that would have required the company to implement “extended producer responsibility” for packaging waste. Apparently, it’s incumbent upon the company to ensure cereal boxes and yogurt cups are recycled once consumers empty them. (more…)