FORTUNE -- While millions of unemployed struggle to keep hope, corporations shelled out millions on election attack ads last year. Individual companies are still not fessing up on how their millions were spent. What do they have to hide?
Maybe you don't find it disturbing that a health insurer might be using millions to fund ads for candidates favored by the gun lobbies. And, certainly, if you believe that companies should serve as executives' oversized piggybanks, you may not be too concerned with political spending issues. But if you think corporate accountability matters, a few company boards have some explaining to do.
Last week, the New York State Comptroller Thomas DiNapoli filed suit in Delaware court asking for access to Qualcomm's (QCOM) books and records related to its political spending. Qualcomm has a very low 2012 score on the CPA-Zicklin Index of corporate political disclosure and accountability, with a zero in all disclosure categories except one.
Qualcomm told the comptroller's office in September 2012 that it would not provide the books and records New York had requested in August and then failed to follow through on an October agreement for limited disclosure reforms, according to the complaint filed last week. Yet despite all this, "Qualcomm was surprised by this lawsuit," a spokesperson wrote me in an email.
While shareholder proposals have been helpful, "the suit represents a significant development in pressing companies to disclose" their political spending, says Bruce Freed, president of the Center for Political Accountability (CPA), which produces the CPA-Zicklin index. More
Marketers are joining forces with the chief information officer. It's the beginning of a beautiful relationship.
By Jessi Hempel, senior writer
FORTUNE -- One of the most consistently popular health apps in Apple's iPhone App Store is iTriage. With more than 6 million downloads, it lets you research and diagnose odd rashes and sore throats, find a nearby doctor, and read about your meds -- and it's brought to you by MOREJul 19, 2012 5:00 AM ET
Several major companies are seeing shareholders take steps to monitor corporate political spending, but at WellPoint board members up for reelection are facing a no vote campaign. By Eleanor BloxhamEleanor Bloxham, CEO of The Value Alliance - May 8, 2012 9:53 AM ET
FORTUNE -- Why it's hot: Coaches who help explain medical issues have been part of health care for a while. But with consumers taking more responsibility for their choices, and billing becoming more complex, companies now need coaches who get personal finance.
What you'll do: Health coaches with a clinical background, usually registered nurses, advise on diseases and specific treatment. They will now be expected to help sort through both the cost MOREOct 12, 2011 5:00 AM ET
|Ousted Yahoo exec gets $58 million golden parachute|
|Canadians arrest a Heartbleed hacker|
|US Airways won't fire worker who sent lewd tweet|
|Hybrid laundromat-cafes are popping up across the country|
|Nearly 2 million homeowners no longer 'seriously' underwater|