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	<title>Active Investing &#187; Shareholder Value</title>
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	<link>http://steventowns.proxyexchange.org</link>
	<description>VALUE INVESTING, SHAREHOLDER ACTIVISM</description>
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		<title>Reuters publishes Nader&#8217;s entreaty to Cisco, blocks comment</title>
		<link>http://steventowns.proxyexchange.org/2012/01/reuters-publishes-nader-entreaty-to-cisco-blocks-comment/</link>
		<comments>http://steventowns.proxyexchange.org/2012/01/reuters-publishes-nader-entreaty-to-cisco-blocks-comment/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 13:37:57 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[proxy]]></category>
		<category><![CDATA[Sentiment]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[uspx]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[proxy vote]]></category>
		<category><![CDATA[shareholder rights]]></category>

		<guid isPermaLink="false">http://steventowns.proxyexchange.org/?p=927</guid>
		<description><![CDATA[Great to see Ralph Nader write something on the very important matter of dividends and stock buybacks, see, &#8220;It&#8217;s time for Cisco to cough up shareholder cash.&#8221; (Hyperlink visible in full article view) And great to see it published by a mainstream outlet like Reuters. Billions of dollars, if not tens of billions, at companies [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2012/01/reuters-publishes-nader-entreaty-to-cisco-blocks-comment/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>GE, Gibson Dunn vs. SEC &amp; Me Take II</title>
		<link>http://steventowns.proxyexchange.org/2012/01/ge-gibson-dunn-vs-me-sec-take-ii/</link>
		<comments>http://steventowns.proxyexchange.org/2012/01/ge-gibson-dunn-vs-me-sec-take-ii/#comments</comments>
		<pubDate>Tue, 24 Jan 2012 17:45:03 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[proxy]]></category>
		<category><![CDATA[Sentiment]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[uspx]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[proxy vote]]></category>
		<category><![CDATA[shareholder rights]]></category>

		<guid isPermaLink="false">http://steventowns.proxyexchange.org/?p=882</guid>
		<description><![CDATA[Serendipitously on Martin Luther King, Jr. Day, I was able to relay great news for shareowners of General Electric (GE) and all publicly-traded companies. The SEC ruled the prior week that GE cannot omit my critical proposal (hyperlink appears in full article view; see page 2 of PDF) requesting its board reexamine dividend policy. GE has [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2012/01/ge-gibson-dunn-vs-me-sec-take-ii/feed/</wfw:commentRss>
		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>When the proxy system works: SEC allows critical dividend proposal at GE</title>
		<link>http://steventowns.proxyexchange.org/2012/01/when-the-proxy-system-works-sec-allows-critical-dividend-proposal-at-ge/</link>
		<comments>http://steventowns.proxyexchange.org/2012/01/when-the-proxy-system-works-sec-allows-critical-dividend-proposal-at-ge/#comments</comments>
		<pubDate>Tue, 17 Jan 2012 13:55:31 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[proxy]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[uspx]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[shareholder rights]]></category>

		<guid isPermaLink="false">http://steventowns.proxyexchange.org/?p=876</guid>
		<description><![CDATA[As I pen this article on this day of remembering/honoring Martin Luther King Jr., an icon of activism, I am elated to share great news for General Electric (GE) and all public equity shareholders alike: the Securities and Exchange Commission has informally ruled that GE cannot omit my proposal from its 2012 Annual Meeting and proxy statement. [...]]]></description>
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		<slash:comments>5</slash:comments>
		</item>
		<item>
		<title>Nintendo bottoming: worries over games proven overdone again</title>
		<link>http://steventowns.proxyexchange.org/2012/01/nintendo-bottoming-worries-over-games-proven-overdone-again/</link>
		<comments>http://steventowns.proxyexchange.org/2012/01/nintendo-bottoming-worries-over-games-proven-overdone-again/#comments</comments>
		<pubDate>Fri, 06 Jan 2012 03:00:26 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Japan - Invest/Econ]]></category>
		<category><![CDATA[Sentiment]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[Yen]]></category>

		<guid isPermaLink="false">http://steventowns.proxyexchange.org/?p=874</guid>
		<description><![CDATA[I have followed up on my original bullish take on Nintendo (NTDOY.PK) (JP: 7974) from June. In my latest, carried as an exclusive on Seeking Alpha, I explain why I remain bullish on Nintendo and among other things include mention of recent Japanese analyst actions. *Click “Read Full Story” below for hyperlink to Seeking Alpha.*]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Is GE&#8217;s dividend really a top priority?</title>
		<link>http://steventowns.proxyexchange.org/2011/10/is-ges-dividend-really-a-top-priority/</link>
		<comments>http://steventowns.proxyexchange.org/2011/10/is-ges-dividend-really-a-top-priority/#comments</comments>
		<pubDate>Mon, 24 Oct 2011 11:05:02 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Earnings]]></category>
		<category><![CDATA[Governance]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[Valuation]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=846</guid>
		<description><![CDATA[Please see Seeking Alpha (&#8220;GE Dividend Still Taking Back Seat to Buybacks&#8220;) for my latest installment in the saga of General Electric&#8217;s (GE) reluctance to share the wealth with its shareholders. *Click &#8220;Read Full Story&#8221; below for hyperlink to Seeking Alpha.*]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The high price of GE&#8217;s stock repurchases</title>
		<link>http://steventowns.proxyexchange.org/2011/09/the-high-price-of-ges-stock-repurchases/</link>
		<comments>http://steventowns.proxyexchange.org/2011/09/the-high-price-of-ges-stock-repurchases/#comments</comments>
		<pubDate>Tue, 27 Sep 2011 11:22:26 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[proxy vote]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=840</guid>
		<description><![CDATA[Beware the stock buyback story. While Berkshire Hathaway (BRK.A) (BRK.B) investors and the media were mostly pleasantly surprised by the company&#8217;s (i.e. Buffett&#8217;s) announcement yesterday saying it may buy back its stock under certain conditions, the situation is quite different at General Electric (GE). The most recent buybacks at GE have cost approximately $30/share, which [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2011/09/the-high-price-of-ges-stock-repurchases/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Explaining Nintendo&#8217;s 10% Jump</title>
		<link>http://steventowns.proxyexchange.org/2011/08/explaining-nintendos-10-jump/</link>
		<comments>http://steventowns.proxyexchange.org/2011/08/explaining-nintendos-10-jump/#comments</comments>
		<pubDate>Mon, 15 Aug 2011 12:03:16 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Japan - Invest/Econ]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[Yen]]></category>
		<category><![CDATA[equities]]></category>
		<category><![CDATA[Nintendo]]></category>
		<category><![CDATA[value investing]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=828</guid>
		<description><![CDATA[Shares of Nintendo (NTDOY.PK) (7974) jumped 9.8% overnight in Japan, while the broader market (the Nikkei 225) was up a far more modest 1.4%, and as the yen remained stubbornly (relatively) strong at Y76.65 against the US$. What explains this big move? The Japanese business press is at a loss for the most part. The [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2011/08/explaining-nintendos-10-jump/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Opportunity behind Nintendo&#8217;s falling stock price</title>
		<link>http://steventowns.proxyexchange.org/2011/06/opportunity-behind-nintendos-falling-stock-price/</link>
		<comments>http://steventowns.proxyexchange.org/2011/06/opportunity-behind-nintendos-falling-stock-price/#comments</comments>
		<pubDate>Fri, 24 Jun 2011 02:32:52 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[forex]]></category>
		<category><![CDATA[Nintendo]]></category>
		<category><![CDATA[Yen]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=824</guid>
		<description><![CDATA[Please see my article about Nintendo (NTDOY.PK) (JP: 7974) published exclusively at Seeking Alpha, &#8220;Nintendo: Dirt Cheap Ahead of Next Growth Cycle.&#8221; Take the time to read the whole piece and note where I say, &#8220;As attractive as Nintendo&#8217;s valuation is, I would not be surprised to see its stock trade lower near-term, especially as [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2011/06/opportunity-behind-nintendos-falling-stock-price/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Internet Initiative Japan: attractive value and growth</title>
		<link>http://steventowns.proxyexchange.org/2011/05/internet-initiative-japan-attractive-value-and-growth/</link>
		<comments>http://steventowns.proxyexchange.org/2011/05/internet-initiative-japan-attractive-value-and-growth/#comments</comments>
		<pubDate>Wed, 25 May 2011 12:10:55 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Japan - Invest/Econ]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[Valuation]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[IIJI]]></category>
		<category><![CDATA[Internet Initiative Japan]]></category>
		<category><![CDATA[value investing]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=819</guid>
		<description><![CDATA[Internet Initiative Japan (IIJI) (Tokyo: 3774) is a longtime shareholding and is one that I intend to hold on to for the long haul. Following my &#8220;friendly&#8221; activist dialogue with the company beginning early last year, the company has subsequently raised its dividend four times by an aggregate 50%. And there is further potential to [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2011/05/internet-initiative-japan-attractive-value-and-growth/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>General Electric: buybacks vs. dividends</title>
		<link>http://steventowns.proxyexchange.org/2011/05/general-electric-buybacks-vs-dividends/</link>
		<comments>http://steventowns.proxyexchange.org/2011/05/general-electric-buybacks-vs-dividends/#comments</comments>
		<pubDate>Sun, 22 May 2011 14:38:09 +0000</pubDate>
		<dc:creator>Steven Towns</dc:creator>
				<category><![CDATA[Governance]]></category>
		<category><![CDATA[Shareholder Value]]></category>
		<category><![CDATA[annual meeting]]></category>
		<category><![CDATA[board of directors]]></category>
		<category><![CDATA[corporate governance]]></category>
		<category><![CDATA[dividends]]></category>
		<category><![CDATA[GE]]></category>
		<category><![CDATA[General Electric]]></category>
		<category><![CDATA[shareholder rights]]></category>

		<guid isPermaLink="false">http://steventowns.com/?p=817</guid>
		<description><![CDATA[Heads up to readers that I have an exclusive article about GE published at Seeking Alpha, &#8220;General Electric: Eschew the Buybacks, Hike the Dividend More Meaningfully.&#8221; Shareholders and potential investors will be pleased to know that in fact, GE has a good problem on its hands of a much improved balance sheet, large cash pile, [...]]]></description>
		<wfw:commentRss>http://steventowns.proxyexchange.org/2011/05/general-electric-buybacks-vs-dividends/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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