ORLANDO, FLA. » Hey, SeaWorld investors: Don’t bother putting on that nice suit for the company’s annual shareholder meeting Wednesday. For the second year in a row, Orlando-based SeaWorld Entertainment is holding its stockholders’ meeting online only, joining a growing list of companies doing away with in-person gatherings.
SeaWorld spokesman Fred Jacobs said the format allows widespread attendance online and "of course reduces costs, which is important to investors and to us."
Critics, however, say the meetings shelter companies’ executives from controversy and rob shareholders of face-to-face interaction with them. Attendees can still ask questions, though often in writing. Sitting in front of a computer screen, investors can’t know whether those questions are being filtered, said Amy Borrus, deputy director of the Council for Institutional Investors.
"It’s not asking too much that companies once a year provide a place, a physical venue, where shareholders can engage directors in person," Borrus said. "Face time is still important. Investors should have the opportunity once a year to look the CEO and board members in the eye."
The annual meetings are where investor votes on directors and corporate issues are tallied. The events also provide opportunities for even small shareholders to ask executives questions or take issue with corporate policies. JetBlue Airways, Martha Stewart Living Omnimedia and Hewlett-Packard all recently have done away with in-person gatherings, choosing to go virtual instead.
Costco egg supplier accused of bird cruelty
SEATTLE » A prominent animal rights group is raising a big stink over alleged cruelty at a massive egg farm owned by a supplier to Costco Wholesale, and prodding the warehouse club to move more rapidly toward its stated goal of offering only cage-free eggs.
The Humane Society of the United States said Tuesday it investigated a Hillandale Farms facility in Gettysburg, Pa., where it found hundreds of thousands of tightly packed birds laying eggs in grisly conditions. Some even lived on top of the pancaked bodies of hens that had died and weren’t removed, said the group, which previously has praised Costco for some animal welfare initiatives.
"We found birds that were rotting in their cages for so long that they had become mummified corpses," said Humane Society vice president for farm animal protection Paul Shapiro. The group also released video it says was secretly shot at the facility by an investigator who worked there six days a week for a month.
The Humane Society said eggs from the facility are sold at Costco under the brand Nearby Eggs. The cartons depict chickens roaming in front of a bucolic red farmhouse, and Shapiro said the contrast with the conditions found by the investigation amounts to "a case of consumer deception."
HSBC axes jobs to focus on Asian roots
LONDON » HSBC Holdings, Europe’s largest bank by market value, will cut up to 25,000 jobs globally to reduce costs and shift its center of gravity further toward the fast-growing Asian economies where it started out 150 years ago.
The London-based group, which is worth $184 billion, about the same as U.S. giant Bank of America, said Tuesday it is "redeploying resources to capture expected future growth opportunities."
Campbell Soup purchases salsa maker
CAMDEN, N.J. » Campbell Soup is buying refrigerated salsa maker Garden Fresh Gourmet for $231 million as it continues to make a push into hot categories such as refrigerated fresh and organic food. This is the latest acquisition by Campbell Soup Co. that looks to keep pace with consumers’ increasing interest in fresh and organic products as they lose their taste for its trademark canned soups.
ON THE MOVE
Neiman Marcus Group has named Gina Haverly as vice president, general manager of its Honolulu store, succeeding recently retired Alan Tomonari. Haverly, who has more than
25 years of experience in the retail industry, prevously was the district team leader of Target Hawaii, a position that entailed the opening and overseeing of all six locations in the state.
The Hawaii Meth Project has announced a new executive director and two staff additions:
>> Georgianna DeCosta is the executive director. Prior to be being appointed, DeCosta served as the program director for the organization since February 2013.
>> Tanya Hardin is the prevention education manager. Prior to joining the organization, Hardin served
12 years as a state certified substance abuse counselor and prevention specialist at Hina Mauka.
>> Erick Agarijo is the community engagement manager. He was previously working as a marketing associate for Kaimuki Self Storage.
Jones Lang LaSalle (JLL), a financial and professional services firm specializing in real estate, has announced that Cesar Topacio is the new general manager for their Windward Mall team. He will be responsible for the overall management and operations of Windward Mall and its tenants. Topacio has more than 12 years of retail property management experience.
