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Front Page » January 24, 2006 » Opinion » Letter to the Editor: Reform corporation laws
Published 3,190 days ago

Letter to the Editor: Reform corporation laws


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By JOHN BAUER
Martinez, Calif.

Editor,

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.

Home-state incorporating

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.


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