https://petitions.whitehouse.gov//pe...-voting-system

Here is the longer version, which I had to edit to fit in 800 characters, followed by the shorter version:

Many Americans own public company shares, either directly, or indirectly through a mutual fund, certain pension funds, or index fund.

Regulations for public companies are designed on the premise that corporate management is ultimately responsible to shareholders' interests -- which is to maximize their return. This is often done via a board of directors.

Many companies recognize that to build shareholder value for the long-term, they must participate in socially responsible decisions.

Some management does not work in either shareholders' or society's interest, but only their own.

When institutional ownership of a company (index funds, mutual funds, etc.) reaches a high percentage, management is free to provide for themselves lavish salaries and bonuses. These institutions don't vote.

Often, management proposals are passed because management, for those proposals, make non-votes and abstentions as YES votes. (index funds and many other institutional funds don't vote!)

On the other hand, shareholder proposals often fail, because non-votes and abstentions count as NO votes.

To ensure management responsiveness to shareholders, we propose the following national law:
* Shareholder-initiated proposals: do not count abstentions & non-votes in the total.
* Management-initiated proposals: count abstentions and non-votes as NO.

Many Americans own public company shares, either directly, or indirectly through a mutual fund, certain pension funds, or index fund.

Regulations for public companies are designed on the premise that management is ultimately responsible to shareholders' interests -- to maximize company value. This is often done via a board of directors.

When institutional ownership of a company (index funds, mutual funds, etc.) reaches a high percentage, management is free to provide for themselves lavish salaries & bonuses. These institutions don't vote. There is often abuse by management & the B.O.D.

To ensure this doesn't happen, we propose a federal law:

* Shareholder-made proposals: don't count abstentions & non-votes in the total.

* Management-made proposals: count abstentions and non-votes as NO.