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Letter to the Editor: Reform corporation laws

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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