--- "d.brin" <[EMAIL PROTECTED]> wrote:
> >
> >Dan read a book awhile back, when he was working on rewriting the bylaws
> >for his company, that stated that the board of directors of a company
> >needed to take 3 groups into consideration:
> >
> >1) Employees
> >2) Shareholders
> >3) Community in which the company operated
> >
> >What I've seen lately has me believing that many companies now are
> >worried mostly about their responsibility to the shareholders, and not
> >to the other two groups.
>
>
>
> Alas, Julia, it is much worse than that. Many of the largest
> corporations are led by people who care nothing about ANY of these
> three groups.
>
> There are several thousand conspiratorial aristocrats out there who
> appoint each other onto boards of directors. These boards then hire
> each others' members as Presidents and CEOs. They then create
> "independent compensation boards" that decide how to pay these
> officers... and appoint each other onto these boards.
>
> Any surprise, then, that these boards declare that they must pay the
> CEO $140 million - even during a year when the stock has plummeted
> and the stockholders got hosed... because "his talents and skills are
> unmatched and worth every penny"?
>
> I had thought that this particular abuse was already made illegal in
> Teddy Roosevelt's time, when the Anti Trust Act banned "interlocking
> directorates". I keep expecting that clause to be brought out,
> dusted off and used to send these bastards to jail. But so far,
> nothing.
>
> Stepping back and taking perspective, it is a fairly typical aristo
> raid... happens every generation and we eventually stop them. This
> time, with the White House in their pocket, they have expanded the
> raid to include 'borrowing" half a trillion $ from our grand children
> in order to hand it over to 20,000 golf buddies.
>
> These are some long-term palliatives that are long overdue. Tax laws
> should favor, rather than inhibit, employee stock plans that
> gradually ramp up worker ownership of their own companies. This
> win-win scenario is long overdue for a big push. The aristos call
> this pinko but it is true capitalism in every essence... only a
> version that has compelling logic and justice to it. When employees
> overlap with investor stockholders, you'll get real supervision and
> management will serve them both... as the law already says that it
> should.
Yes it does. However, it also supplies plenty of loopols. Once the 40 hour
work week was law, once, the lunch break and interum breaks were law, at one
time you couldn't go and hire non residents as long as a US resident who was
qualified was unemployed.
At one time overtime was law, nepitism, racesism, sexism, all illegal, but
now we have plenty of loopoles for all of these.
So what is your solution?
How about real seperation of church and state? And while we are at it what
about septeration of ~buisness~ and state as well? After all buisness is the
new church. Just as powerful and self intereseted as the church when we made
that seperation.
=====
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Jan William Coffey
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