ISS Sides With Apple Over Einhorn on “Blank Check” Proposal

Shareholder adviser ISS Proxy Advisory Services has urged investors to vote for an Apple Inc. proposal to eliminate the company’s power to issue preferred stock without shareholder approval, after hedge-fund manager David Einhorn of Greenlight Capital Inc. challenged Apple’s proposal earlier this week.

“ISS policy supports the elimination of ‘blank check’ preferred shares, because of their potential to be misused in a takeover defense,” the firm said in a note published on Friday. Also, the firm said, if Apple eventually decided it wanted to issue such shares, obtaining shareholder support wasn’t likely to be “an insurmountable obstacle.”

Read the rest of this post on the original site »

Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »