Letter to the Editor: Reform corporation laws
We are ruled by laws, not by CEO's and executives. Now, help reform our corporation laws. Some examples.
Move shareowner to first-in-line, ahead of creditors, and officers.
Require shareowner approvals, in-advance of attempts, by corporation executives: to influence public policy; to grant bonuses/incentives/inordinate salaries; to indemnify officers; and prior to borrowing any corporation funds.
Stabilize market basis, by prohibiting issuances of stock-options.
Shrink balance-sheet footnotes.
Raise the esteem for the word "public corporations.
Require public-bidding in advance of contracts.
Cancel bonuses, incentives, Etc, upon law-violation.
Require availability: Board of Director meeting-minutes.
Designate each shareowner, as a corporate insider.
Require annual financial-disclosures by corporation officers.
Shrink acceptance of multi-corporation "directorships."
Other corporations need re-birthing. If our lawmakers delay, replace them with better ones.