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Public funds support proposal to remove Zuckerberg as Facebook chairman
The Hill ^ | 10/17/18 | ALI BRELAND

Posted on 10/17/2018 2:42:08 PM PDT by yesthatjallen

Several public funds that hold shares of Facebook stock are backing a proposal to remove CEO Mark Zuckerberg from his role as chairman of the company's board.

State treasurers in Illinois, Rhode Island and Pennsylvania as well as New York City Comptroller Scott Stringer co-filed the proposal on Wednesday, alongside the hedge fund Trillium Asset Management, which first floated the idea.

The proposal, which requests that the positions of CEO and chairman of the board be separated, is set to be voted on at the company’s annual shareholder meeting in May.

"Facebook plays an outsized role in our society and our economy. They have a social and financial responsibility to be transparent – that’s why we’re demanding independence and accountability in the company’s boardroom,” Stringer said in a statement.

Facebook has not commented on the proposal, but it is highly unlikely that Zuckerberg will go along with it and he may be able to quash the proposal on his own.

Because of the structure of the class of Facebook’s shares, Zuckerberg’s holdings give him 60 percent voting power among Facebook’s investors, making efforts to restrict his roles difficult without his agreement.

In 2017, Facebook voted down a similar proposal on the grounds that it would “cause uncertainty, confusion, and inefficiency” at the board and management level.


TOPICS: News/Current Events
KEYWORDS: facebook; fascistbook; manchild; markzuckerberg; zuckerberg

1 posted on 10/17/2018 2:42:08 PM PDT by yesthatjallen
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To: upchuck

FIE ping!


2 posted on 10/17/2018 2:43:44 PM PDT by lightman (Obama's legacy in 13 letters: BLM, ISIS, & ANTIFA. New axis of evil.)
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To: yesthatjallen

WOW!


3 posted on 10/17/2018 2:49:23 PM PDT by Diana in Wisconsin ( "Why can't you be more like Lloyd Braun?")
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To: yesthatjallen

Hopefully he’ll stay and the company will lose value.


4 posted on 10/17/2018 2:50:26 PM PDT by ArcadeQuarters ("Immigration Reform" is ballot stuffing)
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To: yesthatjallen

the “scandal” excuse is just the cover story, none of this would have happened if Zuch hadn’t publicly supported Kavanaugh ... that’s what this is really all about ...


5 posted on 10/17/2018 3:02:07 PM PDT by catnipman ((Cat Nipman: Vote Republican in 2012 and only be called racist one more time!))
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To: lightman; beef; BullDog108; Califreak; cgbg; ding_dong_daddy_from_dumas; dirtymac; Fedora; ...
Thanks for the ping lightman.

IMHO, this is way, way to easy on Zuck.

This is the Facebook Is Evil ping list.

If you'd like to be on or off this list, please click Private Reply below and drop me a FReepmail.

6 posted on 10/17/2018 3:54:34 PM PDT by upchuck (Definition of a Republican registered to vote but doesn't on Nov 6: A DEMOCRAT!)
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To: yesthatjallen

Stole his business idea

Stole all the shares from his BEST friend

Secretly sold users’ data

Stated in a confidential email to a friend that people who trust him are "dumb-f*cks".

Married in the community proprety state of California, the very day AFTER he took Facebook public.

Requested nude photos of users to “protect them against the risk of revenge porn”.

Secretly tried to get hospitals to release vast stores of patient data “so I can help cure diseases”.

Initially pursued total rights ownership of images uploaded to FB; if you'd been photoed as a happy youth with, say, a can of Coors then later got really famous, Zuck could be paid by Coors for zero work and YOUR old photo in a new ad while you, the centerpiece of the ad, would get NOTHING. Struck down after lengthy legal battles.

De-platformed numerous Conservatives because he didn't agree with their views, couldn't define hate-speech when asked by Congress.

Secretly requested banks give him his users' financial data, including transactions, so “my users can check their balances on my site."

Digitally permitted his housing advertisers to filter out customers whose search histories were strongly associated with terms like "handicapped" , "mobility scooter" and "guidedog".

Admonished that people "build bridges instead of walls", all while building walls around his Palo Alto homes and around the huge Kauai Estate he bought and then threw the Hawaiians off of.

Established a "trustworthiness index" for ALL his facebook users while disclosing it to none of them.

Altered FB algorithms to flag content from conservative publications as spam.

Revered Augustus Caesar, leader of Rome who assured 200 years of peace via harsh rule, possibly arranging the execution of his own grandson. On a wedding anniversary trip to Rome, Zuck gushed so effusively over sculptures and monuments dedicated to Augustus that his wife joked that three people, not two, were on their trip.

For years, Zuck traditionally closed high-level Facebook executive meetings by shouting, "DOMINATION..!", perhaps half-jokingly.

Proposed installation in the homes of FB users special Facebook cameras that would follow and monitor users around as they went about their private lives inside their homes. But the cameras, Zuckerberg assured, would come with privacy settings which Facebook would, like, totally respect, or something.

Asked for user telephone numbers for 2 factor authentication but within weeks used that data for marketing purposes. If users chose to share their entire contact list, Facebook also shared that data with advertisers, even phone numbers of people who NEVER had a facebook account! After the Cambridge Analytica scandal FB pleged to reinvigorate user privacy but neither of these practices has stopped.

In the runup to the 2018 midterm elections, FB removed over 800 conservative political pages and accounts in a clamp down on what the social media company arbitrarily termed, “inauthentic behavior”. The ambitious political move affected 66 million FB users, most of them Conservative.


7 posted on 10/17/2018 4:52:20 PM PDT by gaijin
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To: yesthatjallen
From the article:Because of the structure of the class of Facebook’s shares, Zuckerberg’s holdings give him 60 percent voting power among Facebook’s investors, making efforts to restrict his roles difficult without his agreement.

In 2017, Facebook voted down a similar proposal on the grounds that it would “cause uncertainty, confusion, and inefficiency” at the board and management level.

In other words, Zuck (who sucks) is a power crazed maniac bound and determined to hold onto power even though he may not be suited for that job. Facebook is Evil!

8 posted on 10/17/2018 6:44:08 PM PDT by upchuck (Definition of a Republican registered to vote but doesn't on Nov 6: A DEMOCRAT!)
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