Entries by Jeff Nelson

Boston Globe: Union fighting a boardroom battle against Newton firm

Public companies are supposed to be answerable to shareholders, but those answers aren’t always what shareholders want to hear. Witness the battle that hotel union Unite Here is waging against Hospitality Properties Trust, one of the Newton real estate investment firms overseen by Barry and Adam Portnoy. The fight has gone on for a few […]

Hospitality Properties Trust board abolishes annual director elections, defying years of investor votes, reports UNITE HERE

Less than two months before Hospitality Properties Trust [Nasdaq: HPT] was to begin annual director elections for its entire board of directors – for the first time in its history – the board abruptly reversed course, reinstating multi-year, staggered terms for directors. HPT’s move comes as a slap in the face to investors who voted […]

Citing a “Troubling Lack of Responsiveness” at Hospitality Properties Trust, ISS recommends shareholders vote the Blue Card, says UNITE HERE

UNITE HERE announced today that proxy advisory firm Institutional Shareholder Services (ISS) recommends shareholders of Hospitality Properties Trust (NYSE: HPT) vote the BLUE proxy card FOR the UNITE HERE’s proposal to opt out of Maryland’s Unsolicited Takeovers Act (MUTA) and require prior shareholder approval to opt in, thereby securing shareholders’ right to annual director elections […]

ISS recommends PNK shareholders vote FOR six proposals protecting shareholder rights in the event of a spin-off

NEW YORK–(BUSINESS WIRE)–UNITE HERE announced today that proxy advisory firm Institutional Shareholder Services, Inc. (ISS) recommends shareholders of Pinnacle Entertainment, Inc. [NYSE: PNK] support six shareholder proposals aiming to protect shareholder rights in the event of a spin-off. The proposals address shareholder rights at any spin-off company, including management’s proposal to spin-off real estate assets […]

Chesapeake Shareholders can have stronger rights as the hotel cycle matures, says UNITE HERE

NEW YORK–(BUSINESS WIRE)–Shareholders of Chesapeake Lodging Trust [NYSE: CHSP] have an opportunity to improve the REIT’s corporate governance by voting for 5 shareholder proposals solicited by UNITE HERE at the May 20 Annual Meeting. The proposals seek to prevent the imposition of anti-takeover measures without shareholder approval and to position the company to take advantage […]

In first vote of season, RLJ shareholders endorse right to amend bylaws

May 1, Bethesda. In its first test of the 2015 shareholder season, shareholders of RLJ lodging enthusiastically endorsed granting shareholders the right to amend bylaws. UNITE HERE submitted this proposal among over a dozen proposals brought forward this year as part of a wide-ranging effort to improve corporate governance standards at publicly traded lodging REITs. […]