Skip to comments.B Lab's Benefit Corporations Won't Benefit You
Posted on 09/16/2011 10:41:59 AM PDT by Twotone
SB26, the North Carolina Benefit Corporations Act contains boilerplate legislation from B Labs. View B Labs Statement of Purpose and Declaration of Interdependence here. The following points are applicable to activists or concerned citizens who want to understand why they should oppose Benefit Corporation legislation in their States.
One of the goals of Agenda 21 is to create a system of corporations that partner with governments to achieve Sustainable Development objectives. Across the nation, model legislation is being proposed to the individual States by a pro-Sustainable Development organization (B Lab) for the purpose of creating a new type of corporation that will support Public Private Partnerships (PPPs) and Sustainability objectives. Those objectives are anti-liberty and anti-free-enterprise.
The corporation is called a Benefit Corporation (B Corp). The originators of this legislation are so ambitious that their plans include the vision to create a public stock exchange for B Corps.
(Excerpt) Read more at freedomadvocates.org ...
New to me too. Looks like formalized, legalized, and institutionalized corruption to me. So then I guess swindlers like Solyndra and its beltway partners wouldn’t have to worry about any investigations.
Under the law as it currently stands, corporations and their officers are under a binding legal obligation to maximize shareholder value. Clearly if you pursued some sustainable development or socially conscious pipedream you would not be maximizing that value. This would theoretically leave you open to lawsuits from shareholders. This new type of corporate charter would give corporations and their directors a whole new set of priorities, above and beyond shareholder value. Slippery slope this is.