. The most nebulous part of the proposal is the notion that large corporations would be obliged to pursue the “best interests” of a long list of entities, not merely shareholders but also employees, suppliers, customers, the local communities where the companies locations are based, and others, with the fundamental premise that such a corporation “shall have the purpose of creating a general public benefit.
What is far more concrete is a requirement that such “United States corporations,” that is, those with over $1 billion in revenue, would be obliged to bring onto their boards of directors, representatives elected by employees, at a minimum ratio of 40% of the total board members. The website declares:
“Elizabeth’s plan gives workers a big voice in all corporate decisions, including those about outsourcing, wages, and investment,”In an abstract way, of course, directors are bound to represent shareholders; if 40% of board members no longer represent the shareholders, than this is, in effect, taking away from shareholders the ownership of 40% of the company. But this is more than just an abstract impact.
Misleading headlines, with empty assumptions, this is why people don't trust the media.
Corporate executives must find a balance between interests of private/institutional investors while maintaining employee satisfaction. If you can’t fight with a double-edged sword, then you’re not much of a leader. Ain’t that why they make the big bucks?
boycottForbes
Lies
Why is this not being talked about more ?!?
This is insanity.
Exactly why Joe Biden is the best answer for 2020.
Well then hack hers too
Heh, jokes on you, I don't have shit in my retirement account!
🤬
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