On October 10th Proctor and Gamble, nicknamed P&G, is holding a shareholder meeting to elect a new board of directors. This vote has the potential to dramatically impact Cincinnati, Ohio.
Most corporate shareholder meetings are boring affairs that rubber stamp management’s slate of candidates. Not this one. Nelson Peltz, a Wall Street billionaire, is spending huge sums of money asking P&G’s shareholders to vote the white ballot. Voting white will put him on the board and give him some control. P&G is spending equally large sums to convince shareholders to vote the blue ballot. The blue ballot will keep Peltz off.