Is anyone surprised that a number of large companies, including those getting bailout money and those with strong ties to the Republican party are making every effort to plunder the U.S. treasury and thus the U.S. taxpayer?
You shouldn't be.
When it comes to money, companies and their allies will use anything to get their hands on it.
If it means selling people on a war to improve their bottom line--they'll do it. If it means evading their obligations to their home country by evading taxes--they'll do it.
I don't know about you, but if I tried to offshore myself to avoid taxes I'd be arrested.
So much for real patriotism. Being patriotic is about carrying your full share responsibility to your country instead of your wallet.
Showing posts with label corporations. Show all posts
Showing posts with label corporations. Show all posts
Friday, January 16, 2009
Wednesday, October 29, 2008
Corporate executives possibly liable for breaching fiduciary duty by causing corporations to support political candidates
Here's a story showing that some corporate executives of large retailers are actually subordinating their fiduciary duty to their shareholder to their own personal political interests.
In the legal industry, we call this a breach of fiduciary duty Such a breach is grounds for immediate termination. On top of that, they can be held personally liable to the shareholders in a shareholder derivative lawsuit for such bad decisions. The boards of these companies have a duty to investigate and immediately terminate those executives found guilty of a breach. That's the law.
Why is this important?
A personal political decision is fully protected by the 1st Amendment. When personal political choices become the basis of an executive decision, IN SPITE OF EVIDENCE THAT CONTRADICTS THAT PARTICULAR DECISION, then said choice becomes a form of defalcation.
Defalcation occurs where a fiduciary takes advantage of their executive position for personal gain at the expense of shareholders, the corporation and ultimately the market.
I note this so corporate shareholders will exercise their power to hold executives and corporate boards accountable for their corporate decisions...especially when those corporate decisions are made for the personal gain of the corporate executive at the expense of the shareholders.
Get the facts, learn the truth, and remove your heads from your backsides.
In the legal industry, we call this a breach of fiduciary duty Such a breach is grounds for immediate termination. On top of that, they can be held personally liable to the shareholders in a shareholder derivative lawsuit for such bad decisions. The boards of these companies have a duty to investigate and immediately terminate those executives found guilty of a breach. That's the law.
Why is this important?
A personal political decision is fully protected by the 1st Amendment. When personal political choices become the basis of an executive decision, IN SPITE OF EVIDENCE THAT CONTRADICTS THAT PARTICULAR DECISION, then said choice becomes a form of defalcation.
Defalcation occurs where a fiduciary takes advantage of their executive position for personal gain at the expense of shareholders, the corporation and ultimately the market.
I note this so corporate shareholders will exercise their power to hold executives and corporate boards accountable for their corporate decisions...especially when those corporate decisions are made for the personal gain of the corporate executive at the expense of the shareholders.
Get the facts, learn the truth, and remove your heads from your backsides.
Subscribe to:
Posts (Atom)