NY state urges Aetna to reveal political spending
|By MICHAEL VIRTANEN, Associated Press|
"The company has engaged in controversial political giving that has harmed its reputation and potentially hurt shareholder value," DiNapoli said Thursday. "Full disclosure of Aetna's political donations made with shareholder money is the only rational way for shareholders to assess the risks that funding partisan political donations poses to the bottom line."
According to the comptroller's office, Aetna inadvertently disclosed donations of
DiNapoli's resolution calls for specific criteria for analyzing whether to make payments to intermediaries for political purposes.
Aetna did not immediately reply to requests for comment Thursday.
The American Action Network, headed by former U.S. Sen.
At 16 corporations this year, where the comptroller's office proposed fuller disclosure of political spending, shareholder resolutions were withdrawn at seven where agreements were reached. At nine others, they received shareholder support ranging from 7 percent at
In a supporting statement to the Aetna shareholder resolution calling for more board oversight of political contributions, DiNapoli says that's needed to ensure political spending is in the company's and shareholders' best interests. "Without such oversight, corporate funds can be used to pursue private managerial preferences or activities that are not aligned with a company's business strategy or values."
|Copyright:||(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.|