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Edited on Tue Mar-02-04 05:22 PM by mac2
To do business in certain states. According to my business training, if they are found guilty of criminal conduct, do not act in the best interest of the community, etc., their charter can be taken away and the corporation dissolved.
They passed these laws as part of the Progressive movement back at the turn of the century. They did take away corporate charters. It was enforced.
CEOs, managers, board of directors, etc.who lie to shareholders, employees, plunder the pension funds, etc. are committing fraud. Plain and simple concept is it not? They do not own the company. They are employees.
Dissolving a corporation isn't so bad. There are always others to buy them up.
Many states have this in their legal systems but have failed to do so. Why not in the case of Anderson, Enron, Tyco, World Com?
I have written my Governor and reminded him of this power. No answer of-course. There is a general lawlessness about corporations that I just don't understand.
The best system for private utilities, transportation, etc. (paid for by tax payers) is a private and public partnership. The government reviews rate increases, complaints, etc. Controls to make sure this important service is not abusedand it works for the customers, repairs timely, enviornmenatal controls, etc. Profits above all else aren't the goal. It worked well in the past prior to making them corporations (privatization).
They(WSJ)can spread their propaganda in the media. We have to power to decide. It is our country, laws, and money. Unless they have direct ownership...we control corporations.
If they continue to plunder and we find them guilty, move off-shore, other mischeif, we don't do business with them. We'll find others who will. This is one of the laragest markets in the world...we have power.
China is demanding corporations meet standards, deliver certain service and products, add to their community by building manufacturing and technology there,etc., so should we.
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