What is it afraid of?... ExxonMobil is the first major US oil company to file a lawsuit to stop a shareholder resolution on climate change from going to a vote at its upcoming annual meeting.
The resolution from Arjuna Capital and Follow This, an Amsterdam-based activist investor group, simply asks ExxonMobil to step up its effort to reduce greenhouse gas emissions.
It calls for the energy giant to “go beyond current plans” and set new targets and timetables.
A similar proposal was voted down by shareholders in 2022 and 2023.
ExxonMobil’s suit claims the Arjuna and Follow This proposal violates SEC rules that prohibit repeat resolutions in the event that earlier proposals didn’t gain increased shareholder support.
The energy giant’s over-the-top move to censor shareholders is a sweet PR victory for Arjuna and Follow This.
Mark van Baal of Follow This cashed in, saying that ExxonMobil clearly wants to prevent shareholders from using their rights. “Apparently, the board fears shareholders will vote in favor of emissions reductions targets,” he said in a statement. “Maybe they see the writing on the wall.”
The Financial Times, BBC, New York Times, Wall Street Journal and The Guardian were among the major news outlets to cover ExxonMobil’s power move.
That coverage has a David vs. Goliath aspect to it. Had ExxonMobil followed the golden rule, the Arjuna and Follow This resolution would have gone quietly into the May 29 night of the annual meeting.
California targets Middle East. Visit California has budgeted $200K to $350K for a one-year PR program to entice people living in the Middle East to visit the Golden State.
That budget covers market intelligence, media and influencer services/activations, travel trade partnerships, co-op programming and website/e-marketing/social media activities.
The effort will be aimed at media outlets and travel influencers in the Middle East.
Travelers from the Middle East spent $770M in California during 2019. That breaks down to about $3,590 per trip.
Visit California plans to issue a contract with a July 1 start date and options to renew for five years. A spokesperson told O’Dwyer’s that Visit California is no longer accepting responses to its Middle Eastern RFP.
Travel and tourism spending in California has not recovered from its $145B peak in pre-pandemic 2019.
In 2022 spending weighed in at $135B, which was enough for California to retain its No. 1 tourism spot among the 50 states.
"I’ll see you on the radio." Charles Osgood, legendary journalist and “CBS Sunday Morning” anchor for 22 years, died on Jan. 23. He was 91 and had suffered from dementia.
Known as CBS News’ poet-in-residence, Osgood was a talented story teller, who also played the piano, organ, banjo and violin during the program.
Jane Pauley, who succeeded Osgood on CBS Sunday Morning in 2016, said: “Watching him at work was a masterclass in communicating. I think to myself, ‘How would Charlie do it.’”
Osgood also presided over “The Osgood File,” which was one of the longest features in radio history. He wrote and hosted the Osgood File for about 46 years, and signed off each spot with, “I’ll see you on the radio.”
Born in New York City as Charles Osgood Wood, he got the media bug while working at Fordham University’s WFUV radio station as chief announcer and then talk show host.
Osgood credited his success to his broadcast mantra of using short words, short sentences and short paragraphs. He believed “there’s nothing that can’t be improved by making it shorter and better.”
That’s advice that PR people should take to heart.