reposted from The Huffington Post

Shareholder season is upon us, marking the beginning of another round of corporate America’s dog-and-pony shows held to placate their cronies and pat each other on the back for another profitable year. As corporations continue to bankrupt our economy on the backs of hardworking Americans, advocates and activists have taken on a new tactic of targeting these sham shareholder meetings; we’ve been invading those corporate charades in order to get our voices heard. And how have big corporate entities responded? They reacted just like so many criminals have when they’re exposed.

They ran.

They ran for the shelter of Salt Lake City and Boise, where they could hold their annual meetings without the interruptions from the loud, organized communities in metropolitan areas like New York and San Francisco. Today, Wells Fargo, Goldman Sachs, US Bank, Peabody Coal and other corporations are attempting to hide in boardrooms in smaller towns across the country, hoping to minimize the access and attention of the homeowners, students, and everyday Americans their policies exploit. It seems to be part of a larger strategy to wait us out: hoping that once the economy improves and people get back to work, our nation will forget about holding corporations accountable for the irrevocable damage they’ve done to our economy.

Unfortunately, the economy hasn’t improved for anyone but CEOs and the one percent, and our strategic collaboration of 99% power groups has only just kicked off its long-term plan to counter the undue influence that the 1% exert on our economy and our democracy.

Expanding on the space opened by the Occupy movement, 99% Power is working to define the one percent by naming names, and identifying executives like John Stumpf, Rob Walton, Brian Moynihan, and Albert Lord who prioritize their own bank account balances on the backs of our families. Starting this month as shareholder season gets underway, we’ll take on the biggest offenders, responding to increased public outrage over soaring corporate profits and dwindling paychecks for workers.

First, homeowners and students facing crushing interest rates will join the Wells Fargo shareholders at their meeting in Utah. Then, Walmart workers battling inconsistent scheduling and retaliation for speaking out will deliver letters demanding full-time employment to store management in several cities. Then they’ll head to the company’s big meeting in Arkansas later this year. And next month, students facing crippling loan burdens will take their case to Delaware and the shareholders of the nation’s largest private student loan processor – Sallie Mae – just after the first anniversary of student debt topping $1 trillion.

But this year, in addition to targeting bad actors individually, the 99% Power movement will shed light on the billions of dollars these companies and their executives pour into political advocacy to protect the tax loopholes and interest rate windfalls helping them expand their wealth at the expense of the rest of us.

But we say no more. The 1% can run, but they can’t hide. The 99% and everyone working together in the 99% Power movement will continue to confront corporate power directly and hold the one percent accountable for the havoc they’ve wreaked on the economy. Join us as we work to rebuild an economy where working people, students and families have the opportunity to earn a seat at the table.

Tomorrow Walmart is hosting their giant annual meeting in Arkansas to plot the next moves for the world’s biggest retailer.

Chances are high Walmart will pledge higher salaries for top executives, keep paying their associates incredibly low wages, and set course for spreading more big box, scandal-ridden, community-destroying stores across the planet.

The 99% will be standing up to Walmart’s unbelievable greed in the streets of Fayetteville — but we also want to help paint a picture of the world we want. So we’re asking folks to use this Friday to shout-out your favorite local business on Twitter.

What stores give you delight, provide jobs, and strengthen your local economy? What coffee shops, book store, auto-mechanic, dance club, burrito-maker do you just love–and wish your friends would check out? 

Tomorrow: please take a moment to shout-out your favorite local businesses. Just add #FF as well as the hashtags #NotWalmart and #99Power. And if you can fit it: #WMTshares

For example: you might tweet:

Today is Walmart’s Shareholder Mtg, so I’m shouting out my fav local businesses. #FF: @_______ @_______ @______ #NotWalmart #99Power

What’s #FollowFriday? It’s a Twitter tradition of using Fridays to recommended your favorite accounts on Twitter — and encourage your other friends to follow them too.

Thanks so much for giving this a whirl! We saw this morning that 99% pressure is making a real difference — when Walmart withdrew from ALEC. SO let’s make tomorrow HUGE, as we build up our communities and keep the heat in the streets.

Send us your tweets to @the99power and we’ll try to retweet you!

Via AlignNY -- the 99% takes to the streets against WalmartThe Walmart 1 Percent Has Tough Week as Company Shareholder Meeting Nears

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As Walmart prepares for its shareholder meeting next Friday, June 1, several members of the Walmart 1 Percent were confronted this week by Walmart workers and their allies. Members of the Organization United for Respect at Walmart (OUR Walmart) visited Walmart US CEO Bill Simon, Walmart Board Member Michele Burns, and Walmart Board Nominee Marissa Mayer.

Walmart board member Michele Burns spent the day in Jersey City, NJ, at the Goldman Sachs annual meeting. Burns, no stranger to controversy, is on the boards of both of these scandal-ridden companies. She served on the Walmart board’s audit committee in 2005 and 2006, when the company was reportedly grappling with knowledge of the bribery scandal in Mexico. Last week, proxy advisory firm Glass Lewis recommended that shareholders vote against seven of Walmart’s board members, including Michele Burns, at the company’s annual meeting June 1.

So it’s no surprise that Burns was greeted by community members, including ALIGN NY, concerned about Walmart’s practices outside Goldman’s meeting today.

Inside, Burns faced tough questions about her roles at Goldman and Walmart. The New York Timesreports:

Several shareholders spoke, objecting to Goldman’s decision to have Michele Burns lead the board’s audit committee. One shareholder pointed out that she was on Wal-Mart’s audit committee in 2005 and 2006, when the retailer is said to have bribed officials in Mexico. He said having her lead Goldman’s audit committee “sends the wrong message to shareholders.”

Marissa Mayer invited to hang out with Walmart Associates

Newly nominated Walmart Board member Marissa Mayer also had a visit Wednesday from Walmart workers and allies on Wednesday. OUR Walmart members delivered a cake to Ms. Mayer, along with an invitation, asking her to join a Google+ Hangout.

The invitation read, in part:

@MarissaMayer

Check your hair and make sure your mic works! Walmart associates want to hang out!

Walmart associates with Organization United for Respect at Walmart (OUR Walmart – forrespect.org) are excited to learn about your nomination to Walmart’s Board of Directors. As an executive at Google, your company has been called the best company to work for in America. Now, that’s decidedly “not evil.”

When you join Walmart’s BOD, you’ll find yourself overseeing a company with a very different – and less appealing – work culture. (Seriously, Google it.) We’d like to hang out and discuss our ideas for how you can help Walmart create the type of positive work environment you created at Google – a workplace culture that respects and values associates…

We’re working hard to make Walmart a better company and a better employer. We know that your likely election to the Board of Directors will signal a new moment for the company – one in which our voices as workers, consumers and communities can be truly heard and one in which real accountability and oversight become more than buzzwords.

What better way for us to meet you and to exchange ideas than a Google+ Hangout?! We look forward to hanging out soon.

More tough questions in Boston

Finally, Walmart US CEO Bill Simon spoke at a Morgan Stanley sponsored investor conference on Wednesday in Boston. Although company security was quick to usher her out, an activist at Making Change at Walmart was able to get a question out to Mr. Simon. Her question:

In the wake of the Mexico bribery allegations, recent statements by major pension funds and investor advisory services seem to signal an emerging crisis of con¬fidence in the current leadership of Walmart. In addition, the company’s recent disclosures suggest that corruption problems may extend beyond Mexico.

How can you assure shareholders that Walmart will conduct an adequate internal investigation, given apparent conflicts of interest on the present Board:

1)The current and prior CEO, both of whom sit on the Board, have been implicated in the scandal?

2) Other current Board members were on the Audit Committee in 2005 and 2006 when the scandal came to light internally.

3) Two other current Board members are related to the Chairman?

It’s been a busy week! With lots more to come in the weeks and months ahead.

Tomorrow (Thursday) — there’s going to be a awesome protest at Sallie Mae’s annual shareholder meeting in Newark, Deleware. Buses will be rolling in with fed up students from DC to Philly, from Florida to New Jersey.

For those of who can’t make the Sallie Mae protest–you can help us take a stand on Twitter.

It turns out there are lots of students who tweet about their personal grievances with SallieMae everyday. So, we’re launching a skunk Twitter account tomorrow to reach out to students, and invite them to join the campaign to fight back.

We’re looking for a few volunteers to take 2-hours shifts throughout the day to helm this account and keep it running. We will provide a guide, sample tweets, and a support network.

A few weeks ago, a volunteer #99Power team reached out to hundreds of Bank of America customers on Twitter, and gave them really good reasons to move their money, and get involved. It was an awesome success!

Why be mighty upset at Sallie Mae?

“As graduation approaches for many college students this spring, the outlook for post-graduation will be dire. Instead of, “What do you plan to do next?” the questions are: “How much student debt are you graduating with?” or “Do you think you’ll be able to find a job?” The situation has grown grim for recent graduates. On top of 1 out of every 2 graduates being jobless or unemployed, students will graduate with an average of $25,000 in debt this year. On April 25th, student debt even surpassed the one trillion dollar mark – making student debt larger than credit card debt and auto loans.

The largest profiteer off of student debt, Sallie Mae, has been leading the crusade to make a buck off of students suffering the worst economic recession since the 1920’s. Already spending over one million dollars on lobbying in 2012, Sallie Mae has been one of the most aggressive lobbyists on the Hill using money received from students, to allow private lenders to use predatory practices, including hidden fees that further bury students in debt.

Student debt has spiraled out of control and now students are demanding debt forgiveness! May 24th students, workers, and recent graduates will be gathering in Newark, Delaware to confront Sallie Mae CEO Albert Lord and demand student debt forgiveness and that they keep their corporate money out of our democracy.” -Student Labor Action Project

Join the Facebook event in solidarity: http://www.facebook.com/events/231740240270141/

We’re halfway through the 99% Spring! Let’s discuss how far we’ve come, where we’re at, and where we go from here.

Join us at 3pm EST for one-hour online chat on Facebook!

We want to use this chat as a moment to reflect on being midway through an incredibly momentous Spring of 99% actions, explore the momentum we’ve created, discuss challenges we face, and look ahead together. All are invited to participate in the conversation!

Technically, the way this will work will be rather simple. We’ll post an update on The 99 Power Facebook Page, and invite folks to participate in the chat in the comments of that update. Stay tuned–we’ll post the update at 3pm EST sharp:  http://www.facebook.com/the99power

Thank you featured guests:

Tracy Van Slyke, The New Bottom Line
Cathy Sherwin, AFLCIO
Austin Thompson, SEIU
Jeremy Brecher, Writer for The Nation
Jonathan Williams, Student Labor

Talk to you soon!

WellPoint is the nation’s second largest health care provider and largest Blue Cross/Blue Shield organization, providing health coverage to one in nine Americans. WellPoint operates in 14 states.

WellPoint executives have been at the forefront of seeking to overturn the Affordable Care Act, which extends care to millions more Americans and reforms abusive insurance company practices.

In 2010, as health care reform was being debated, WellPoint’s practice of cutting off health insurance to women recently diagnosed with breast cancer was exposed in a Reuters investigative story.  According to Reuters, WellPoint officials had developed a complex computer algorithm to identify policyholders with newly diagnosed breast cancer. This was not WellPoint’s first controversy related to illegal cancellations for patients with costly diseases. In 2008, WellPoint settled claims brought by California regulators by restoring the cancelled coverage of more than 2,000 policyholders, and agreeing to cover up to $14 million of expenses policyholders incurred after being illegally terminated.

Shareholders at WellPoint’s 2012 annual meeting are questioning company CEO Angela Braly about the company’s role in the transfer of $86 million from the industry’s trade association to the U.S. Chamber of Commerce in 2010 to fight the health care reform legislation as it made its way through Congress.

WellPoint’s management are also using shareholder dollars to support right-wing politicians, particular those opposing health care reform and opposing workers’ rights to unionize. A 2011 Bloomberg headline proclaimed  ”WellPoint Joins Koch Help Fight Wisconsin State Senate Recall.” The article explains that WellPoint executives have invested heavily in Republican organizations working to defend Wisconsin governor Scott Walker and other Wisconsin legislators in their recall fight. WellPoint is among the top corporate donors fighting recall efforts, having given $450,000 to the Republican State Leadership Committee and another $250,000 to the Republican Governors Association. On top of this, WellPoint gave another $842,000 to the Republican State Leadership Committee during the 2010 election cycle. About three-quarters of WellPoint’s political investments are made in Republican candidates.

Health Care for America Now (HCAN), a coalition of more than 1,000 grassroots groups representing 30 million Americans supporting health care reform, last summer challenged WellPoint’s CEO Braly about the company’s involvement in the Wisconsin recall campaign. “Why is it in the interest of WellPoint to take away the ability of workers to bargain for a better life? We question whether WellPoint is fulfilling its fiduciary obligations to its investors by alienating organized labor in this manner since such a large percentage of your company’s enrollees are union members,” wrote HCAN Executive Director Ethan Rome.

WellPoint has had it own problems with employees. Last year the company settled an age discrimination suit agreeing to distribute $2.6 million to 150 plaintiffs. In 2008, the company was sued by nurses at its California call center alleging the company failed to provide overtime pay. A court subsequently refused to certify the suit as a class action.

Scott Klinger is an Associate Fellow at the Institute for Policy Studies.