'Shareholder of the Year' —

If such an award existed, it should go to AFSCME, declared a Pensions & Investments editorial in the Dec. 22 issue. The union, said the prestigious trade publication, "was able to harness its power as a pension-fund shareholder to become the dominant force shaping corporate governance in 2003." Pensions & Investments noted that a "far-reaching" federal report on shareholder involvement in the proxy process "devotes its opening page to describing AFSCME as the catalyst for the [study's] recommendations. ... AFSCME seeks to bring more board accountability to shareholders and thus improve management and performance."