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James McRitchie

James McRitchie
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  • Tesla's Apple Problem [View article]
    I doubt if Apple will build a car factory. They don't have a phone factory and that seems to be working out.
    Sep 22, 2015. 11:11 AM | 2 Likes Like |Link to Comment
  • Apple: There Won't Be An iPhone 6s Bump [View article]
    Interesting analysis. Still, if you have an iPhone 5s and you waited for your contract to expire, you are more likely to get an iPhone 6s. Maybe a small bump... but still a bump.
    Aug 3, 2015. 03:05 PM | 19 Likes Like |Link to Comment
  • Reed's: A 6 Point Inspection [View article]
    I guess I could have gotten one too, but I'd rather leave my money in the stock and push for it to grow further. Would do even better with a more involved board.
    Jun 1, 2015. 05:52 PM | Likes Like |Link to Comment
  • Reed's: A 6 Point Inspection [View article]
    Happy to work with shareowners of Reed's to create positive change. With the majority of shares being voted against a director last year, it is hard to imagine Chris Reed can keep ignoring the obvious. You don't need to be Carl Icahn or Nelson Peltz to make a difference.
    May 29, 2015. 07:16 PM | Likes Like |Link to Comment
  • Reed's: A 6 Point Inspection [View article]
    As you note, Reed's has much going for it re natural product line, growth, founder stake in company. Where it has really fallen down over the years is in its corporate governance. Directors who hold no stock and who are paid a pittance for attending board meetings are signs that 'independent' directors aren't really independent... nor are they likely to be adding real value to the company.

    I think Chris Reed shows signs of genius in many areas but even genius CEOs benefit from an independent board with diverse motivated directors. While it is often a positive when insiders own a third of the company, it can be a barrier to change if they don't see the need. I advised shareholders to withhold votes from the directors that don't own any shares and a majority of shares were actually voted at the last annual meeting against one of the directors. That's a HUGE feat, when you consider that insiders hold 33% and cast them in favor of the director who remains on the board.

    Unfortunately, Reed's operates under plurality voting standards, so if no one is running against a director, they can get reelected with the vote of one share... even if ALL other shares are voted against them.

    I'm still hanging in there, hoping Reed will see the light and agree to some basic corporate governance reforms, like majority voting for directors and proxy access. However, there is a risk that he never will. He may be satisfied with what appears to be a rubber-stamp board.

    Steve Jobs did much better at Apple after being thrown out and returning. Will it take something that drastic for Reed's?
    May 29, 2015. 05:39 PM | 3 Likes Like |Link to Comment
  • An Apple Ultra HD TV Could Be A Better Growth Driver Than Smartwatches [View article]
    The money is in the software and agreements with providers, not in the screens. The markup on screens is very low, so a better box is the way to go.
    May 21, 2015. 12:53 PM | 18 Likes Like |Link to Comment
  • Does Gilead Have The Cure For Apple-Itis? [View article]
    Seems more about you than Gilead. For example, you mention "promising areas like HIV treatment and cancer research" but say nothing further about them. Seems a little faith-based going forward.
    Apr 2, 2015. 01:11 PM | 5 Likes Like |Link to Comment
  • Reeds reports FY'14 results [View news story]
    I see three of the directors at Reeds own very little stock in our company (two own no stock). That seems like a very bad sign.
    Mar 26, 2015. 05:20 PM | 2 Likes Like |Link to Comment
  • Costco loses fish import license in Canada [View news story]
    "after Costco violated regulations several times over the last couple of years." Doesn't Costco have a system in place to ensure they aren't violating the law... especially when warned several times? I thought Costco was better managed than that!
    Mar 17, 2015. 12:31 PM | Likes Like |Link to Comment
  • Whole Foods postpones annual meeting, citing SEC [View news story]

    Here is is.
    Feb 13, 2015. 10:20 PM | Likes Like |Link to Comment
  • Whole Foods postpones annual meeting, citing SEC [View news story]
    I had hoped that after listening to the SEC-IAC meeting on February 12th (the portion on proxy access) this week, they would have decided to move forward, perhaps even endorse my proposal.

    Joseph Carcello, who heads the University of Tennessee Corporate Governance Center, characterized the initial Whole Foods proposal as “not in good faith.” Zach Oleksiuk of BlackRock said they would vote against directors at companies that keep proxy access proposals off their proxies because of a company’s own interpretation of (i)(9).

    Darla Stuckey, with the Society of Corporate Secretaries, said her members support the right of shareholders to aggregate for purposes of nominating directors (counter to WFM’s position of limiting access to a single shareholder). She said that none of her members are likely to litigate and most will not exclude proposals under (i)(9).

    Mike Garland of the New York City Comptroller’s office tore into several features of the 3,000 word proxy access proposal that Whole Foods included in its preliminary proxy.

    Whole Foods is at risk of becoming a corporate governance pariah. I certainly do not want that. Our company should be a shining example, not only in offering quality whole foods to the public and by being one of the best places to work, but it should also be recognized as a guardian of shareholder rights to minimize the need for government intervention in corporate governance.

    Punting may be a good thing. I hope Whole Foods will take whatever time it needs to properly weigh the alternatives. If they do, I believe they will decide to include my proxy access proposal. Let shareowners have a voice; we are not outsiders – we are a key part of the Whole Foods Market community.
    Feb 13, 2015. 05:48 PM | 2 Likes Like |Link to Comment
  • Whole Foods Market Delivers Record Q1 Sales and EPS [View article]
    Decent performance at $WFM. Why is Whole Foods so afraid of proxy access? Shouldn't shareholders be able to place a couple of director nominees on the proxy? Where is the accountability?
    Feb 11, 2015. 04:16 PM | Likes Like |Link to Comment
  • Icahn publishes new Apple letter; shares near $125 [View news story]
    Whatever you think of @Carl_C_Icahn, Aople's 1/28 8-K showed 1.11% return on cash position = to 26% of stock's market value. Pension fiduciaries have an obligation to see that funds are invested in the interest of beneficiaries.

    Whatever Apple cannot reinvest with the expectation of outperforming the equity market averages should be returned to shareholders in dividends or buybacks.

    Frankly, with a more imaginative board, they should be able to invest and outperform. Support proxy access at the annual meeting. #corpgov
    Feb 11, 2015. 03:32 PM | Likes Like |Link to Comment
  • CSP's (CSPI) CEO Victor Dellovo on Q1 2015 Results - Earnings Call Transcript [View article]
    Unbelievable that shareholders failed to pass proxy access in order to place their own director nominees on the proxy.

    I'll be back next year and will follow template endorsed by proxy advisors.
    Feb 11, 2015. 02:24 PM | Likes Like |Link to Comment
  • CSP reports FQ1 earnings [View news story]
    Unbelievable that shareholder failed to pass proxy access in order to place their own director nominees on the proxy. I'll be back next year and will follow template endorsed by proxy advisors.
    Feb 11, 2015. 09:43 AM | Likes Like |Link to Comment