Pepsi vs Coke: Which Is More Expensive?

At the time of writing this, a share of Pepsico (PEP) is trading at $56.90, while a share of Coca-Cola (KO) is trading at $49.99. Does this mean Pepsico is more expensive than Coca-Cola? Not necessarily.

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Coca-Cola Proxy and Shareholder Democracy

One of the best things about being a company shareholder is reminding the board of directors who they work for; THEY WORK FOR YOU.  I am an owner of 0.00009% of Coca-Cola. My shareholdings are 2,110 shares out of a total of 2.3 billion total shares. Today, I received my proxy materials and voted as a shareholder.

The most fun, however, is to vote on shareholder resolutions that the board of directors are against. In the same way popular referendums, like the famous Proposition 8 in California, go around the state legislature, shareholder resolutions go around the board of directors.

Coke shareholders are voting on executive compensation limitations and the creation of a board committee to focus on human rights. They have to listen to shareholders like me on these issues.

You might say, "Wait a minute, 0.00009% is about one one-millionth of the company - you really have no voice." I have much more of a voice telling Coca-Cola what to do than I do in New York City with eight-million residents (four-million registered voters).

Disclosure: I own Coca-Cola shares.  I also own Pepsi and am looking forward to voting my proxy with them as well.