Perhaps if GM had to actually answer to it's shareholders about things like executive pay and about whether or not to have long-term fuel efficiency strategy, things could have been different. Who knows, they might have been able to compete with Toyota.
The rules of politics haven't changed just because we have a new President and a Democratic congress and, in the long run, the power of corporations to shape policy won't go away. So why don't we change the rules of corporate governance so that shareholders have more of a say in how much these companies pay their executives and how their behavior affects the air we breath or the water we drink? Is it possible that in the future an average citizen could make a bigger impact voting for the board of directors of AT&T or General Electric than for a congressman? With the aid of Internet efficiencies this could be a reality today.
1 comment:
Terry what the heck are you talking about? You must have consumed a humongous quantity of pharmeceutical hallucinogenics earlier in your life. I hope you don't dream up this wacky stuff by yourself. Earth to Terry, Toyota is reeling as well.
Here is a little Corporate Law 101. Every shareholder does have a say in the exact proportion of the amount of stock they own. They elect the Board and the Board sets executive pay. If individuals have a problem with what is going on in a corporation they can band together and run someone for the Board. This issue with bonuses and executive pay is a red herring in this entire debacle. They are such a small percentage of the amounts of money we are talking about here.
Of course now you are asking something like shouldn't we allow the average idiot to decide how a corporation should run. I have already seen in several months what kind of hairbrained government we get when the uneducated wackos actually vote. This administration is going to destroy this nation.
Now under Obamanomics the shareholders and Board have no say. In my opinion what they are doing is unconstitutional. Telling corporations that they have to change corporate management is not something that the government has the power to do under the constitution.
You really need to start reading things other than the anti-American, anti-Corporate, websites that you must be getting these extremist ideas from. They are rotting whatever gray matter you have left between your ears.
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