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| | Six Companies in Calpers Cross-hairs - - CFO.com (Site not responding. Last check: 2007-08-03) |
 | | To select the companies on its focus list, Calpers examines the more than 1,800 U.S. corporations from its internal equity portfolio, then narrows the list based on long-term stock performance, corporate governance practices, and an evaluation of economic value-added, or EVA, which measures net operating profit after tax, minus cost of capital. |
 | | Feckner said that Calpers is urging these companies to make a number of governance improvements, including requiring majority voting for directors, removing excessive takeover defenses that prevent shareowners from amending company bylaws, and accounting for their performance. |
 | | • Mellon is the target of a shareowner proposal to remove the company's requirement of a 75 percent majority vote to amend company bylaws; its share price fell by 2 percent compared with a 58 percent gain for industry peers over the past five years. |
| www.cfo.com /article.cfm/6844565/c_6823889?f=home_todayinfinance (496 words) |
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