Category Archives: Corporate governance

Summer Rerun: Lazy Corporate Monopolies Are Why America Can’t Have Nice Things

This post first ran on January 7, 2013 By Matt Stoller, who writes for Salon and has contributed to Politico, Alternet, Salon, The Nation and Reuters. You can reach him at stoller (at) gmail.com or follow him on Twitter at @matthewstoller Throughout much of the United States, cell phone service is terrible (so is broadband, […]

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Greenspace, Gardeners, Parents, Property, and Common Pool Resources

“With community property, you all have equal say, but with kids, the parents get the last word, so who’s rightest, safest, greenest, volunteeriest, or best validated by property values is trumped by the parents’ prerogative. If they want their kids to play on the island, there’s not much you can do about it but complain your way to a rift.” Hmm…….

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Young Owners of Low-Budget GM Cars Weren’t Worth Saving

Writer libbyliberal describes how the Obama Administration’s National Highway Traffic Safety Administration worked with GM for years to cover up the automaker’s ignition system defect that would lead to sudden power system failure. That fault is estimated to have caused at least 13 deaths and over 30 crashes. It’s also a textbook case of crapification.

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Delaware Chief Justice to Shareholders: Drop Dead

We’ve argued that the notion that companies are obligated to maximize shareholder value is a theory made up by economists and eagerly adopted by corporate executives, with little to no foundation in law. We received confirmation of our thesis in the form of a Columbia Law Review article by the chief justice in Delaware, Leo Strine, arguing that shareholder activism needs to be curbed. As if CEOs are really breaking a sweat over those pesky shareholders.

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These Charts Show What is Wrong With American Capitalism

For the last 30 years, neoliberals have fixated on a simple program: “Get government out of the way,” which meant reduce taxes and regulations. Business will invest more, which will produce a higher growth rate and greater prosperity for all. The belief was that unfettered capitalism could solve all ills.

That’s not how this children’s story is turning out.

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Murdoch’s Other Hacking Scandal: A Review of “Murdoch’s Pirates” by Neil Chenoweth

Back in the late 1980’s, Rupert Murdoch’s latest fiendish plan for world media domination (there’s a new one every decade or so) centred on pay TV. But as the 1990s rolled in, the media baron focused on a new world to conquer: crypto.

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“What Then Must We Do?” Gar Alperovitz at The New Economy Summit

By Lambert Strether of Corrente

Here’s something to listen to with your morning coffee; it’s a lecture on co-operatives, with Q&A following, by Gar Alperowitz at the New Economy Summit in Boone, NC, in April of this year. I like the title, because the agency in “What Then Must We Do” is explicit, in contrast (intentional or not) to [Anglophone usage of] Lenin’s famous “What Is To Be Done” (sez who?) where lack of agency signals the Bolshevik’s intent to tell people what was to be done. We know how that movie ended; there were a lot of movies that ended that way in the 20th Century. The video:

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Jamie Dimon, the Lance Armstrong of Finance

I’m sure some readers will protest that comparing Jamie Dimon to Lance Armstrong is unfair. After all, Dimon is better looking than Armstrong. But this post will demonstrate that the big reason that Armstong’s reputation has crashed while Dimon’s remains largely intact is first, that bank CEOs have a powerful and largely compliant messaging apparatus in the financial media and second, that we hold sports stars to much higher standards than titans of finance and commerce.

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Why the “Maximizing Shareholder Value” Theory of Corporate Governance is Bogus

One mantra you see regularly in the business and popular press goes something along the lines of “the CEO and board have a fiduciary duty to maximize shareholder value.”

That is untrue. Moreover, the widespread acceptance of that false notion has done considerable harm.

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