Smith to Seek Clawback of Executive Compensation for Corporation's Coffers

[radfringe]

Smith to Seek Clawback of Executive Compensation for Corporation's Coffers
http://idea.sec.gov/Archives/edgar/data/93751/000126947609000002/stoplookandlisten.htm

scroll down
=====================

DFAN14A 1 stoplookandlisten.htm STOP, LOOK, AND LISTEN FILING: MARCH 16, 2009
SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )


State Street Shareholder to File Proxy Materials for 2009 Annual Meeting

Jailed for Airing Corporate Governance Concerns at 2006 Annual Meeting,
Smith to Seek Executive Compensation Clawbacks, Other Reforms

Urges Other Owners to Stop, Look, and Listen before Voting


ALEXANDRIA, VIRGINIA, March 16, 2009 --- Smith, a State Street shareholder, today announced that he intends to file a proxy statement and form of proxy for the 2009 Annual Meeting of Shareholders for State Street Corporation.

On Friday, March 13, 2009, the State Street Board of Directors filed a preliminary proxy statement, setting the Meeting date for Wednesday, May 20, 2009.

"By a curious coincidence, State Street's Directors have moved the annual meeting (traditionally held the third Wednesday in April) to the date set for the Halliburton annual meeting," Smith notes.

"I hesitate to suggest that the State Street Directors did this in order to ensure that I could not appear at the State Street meeting that same day, by creating an intentional scheduling conflict. But - then again - I have been quite public about my intent to attend the 2009 Halliburton meeting, in order to confront Halliburton CEO David Lesar and Halliburton Tax VP David R. Smith."

"I continue to have questions about their respective roles in the Foreign Corrupt Practices Act matters for which Halliburton and KBR have been fined thus far. The mis-directed e-mails I received while working at Halliburton/KBR suggest that Halliburton executives not only knew about the foreign bribes, but also knew the various investigations would likely turn up massive tax evasion issues as well, stemming from Halliburton/KBR's use of offshore banking activities to effect the foreign bribes."

Smith adds: "I have also been quite public about questioning which Bush Bank(s) were used to funnel the FCPA bribes for Halliburton/KBR, while calling attention to the long-standing Halliburton banking relationship with State Street, as well as Andy Card's long-standing personal relationship with the State Street CEO, Ronald E. Logue."

"Moreover, I have pointedly called the prior Administration's regulators' attention to Mr. Logue's tenure as head of State Street's Cayman operations before becoming CEO. I continue to urge incoming regulators to look into which Bush Bank(s) were used to funnel Halliburton/KBR's foreign bribes. Public corruption is one export America should not be making."

"Between now and the State Street Meeting, I intend to address the six Items of Business set forth in the Directors' preliminary materials," Smith says. "I urge all State Street owners to read all parties' soliciting materials carefully, and to vote on the basis of all information put forward."

[radfringe]

1. kick