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Shareholders pressure Intel over PAC spending

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Mark Maynard
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p Intel isn’t the only tech company with a political action committee funneling money into Congress.

But some of Intel’s recent donations — including to politicians known for opposing marriage equality like North Carolina Senator Richard Burr and Minnesota Representative Tom Emmer — have alarmed shareholders, who are now proposing a resolution that would force the chip-maker to publicly explain political donations that don’t line up with its stated policy positions.

The proposal is the brainchild of NorthStar Asset Management, a firm that frequently pushes tech companies to more closely evaluate their political contributions.

When Intel updated its political accountability guidelines after the November election, the sentence about explaining “significant incongruencies between a candidate’s record and our own policies” had vanished.

In a recent SEC filing, Intel’s board said it is “unrealistic” to expect the company or its stockholders to agree with every stance taken by a politician who receives contributions from Intel.

The company discloses its positions on a number of political concerns, including the environment and immigration, and Intel signed on to a legal brief opposing President Trump’s immigration order.

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Mark Maynard
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