COLUMBIA: Union Seeks Seats On Board
The Service Employees International Union "is asking shareholders in Columbia/HCA Healthcare Corp. to elect two SEIU nominees to Columbia's board of directors," the St. Petersburg Times reports. The union, which owns more than 47,000 shares in Columbia, is distributing its own proxy card to Columbia shareholders, and it is attempting to persuade shareholders to write in the names of the SEIU nominees on Columbia's proxy card. The proxy reads, "[W]e believe board independence is crucial to restoring the company's relations with shareholders, regulators and consumers." SEIU's pension fund "is one of about a dozen institutional shareholders suing current and former Columbia executives" over the decline in Columbia's stock value. A Columbia spokesperson had no comment on the union's efforts. The vote to determine the makeup of Columbia's board will be tallied May 14 at the hospital chain's annual meeting in Nashville, TN (Hundley, 3/19).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.