The American Legislative Exchange Council (ALEC) faces a run on its membership as Kraft, Pepsi, Coca-Cola, Intuit, the Gates Foundation and, as of yesterday, McDonald’s broke ties with the conservative organization. While some companies are refusing to distance themselves from ALEC’s involvement in Voter ID legislation and support for the “stand your ground” laws that may play a pivotal role in the defense of Trayvon Martin’s shooter, newly released SEC documents show that shareholders are increasingly uncomfortable with their companies’ involvement in the conservative organization.
Newly filed SEC documents show that shareholders at five publicly traded companies are launching their own resolutions, to be voted on at upcoming annual meetings in May, calling on the companies to disclose their contributions to tax-exempt organizations, like ALEC, that write and endorse model legislation.
At the UPS annual meeting on May 3, in Wilmington, DE, shareholders will vote on a proposal calling on the board to “authorize the preparation of a report, updated annually” disclosing the companies legislative and lobbying activities. A supporting statement reads: