That's a better response rate than the year before, when 85% of companies gave shareholders the back of their hands, says the CouncilofInstitutionalInvestors.
The New York pension fund and other members of the CouncilofInstitutionalInvestors sent letters to 430 companies in 2010 asking that they disclose political contributions made with corporate funds.
That's the remarkable story that emerged this week as the American Federation of Teachers president tried to sandbag hedge fund investor Dan Loeb at a conference sponsored by the CouncilofInstitutionalInvestors.
Douglas Ferrans, author of a report on equity underwriting for the InstitutionalInvestorsCouncil, says the bundling of charges for corporate-broking services with underwriting fees raises the suspicion that shareholders are paying over the odds.