18th Annual PUMPKINFEST :: Saturday, October 25 from 9am - 4pm * Downtown Franklin :: CLICK HERE FOR MORE INFO!

- published 8/21 (Larry) old link: http://www1.cfnc.org/applications/NC_Community_College/apply.html?application_id=1527

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Opinion Letters What corporation are you voting for?

Incorporation (Inc.) is a protection for investors. The English state it plainly, Ltd. or Limited. Investors’ liability is limited to the value of their investments. If the corporation racks up irresponsible debit, acts improperly or illegally, investors cannot be sued, fined or jailed, even if the corporation's actions cause damage or injury.

That is fair. It is the CEO and directors who run the company. But wait; who gives them their marching orders? That would be those very investors saying, “Make as much money for me as you can and as fast as you can, and I don't care how you do it.” Shockingly mercenary but effectively true. A corporation is crippled when investors move their money to better- performing corporations.

Incorporation (Inc.) is a protection for investors. The English state it plainly, Ltd. or Limited. Investors’ liability is limited to the value of their investments. If the corporation racks up irresponsible debit, acts improperly or illegally, investors cannot be sued, fined or jailed, even if the corporation's actions cause damage or injury.

That is fair. It is the CEO and directors who run the company. But wait; who gives them their marching orders? That would be those very investors saying, “Make as much money for me as you can and as fast as you can, and I don't care how you do it.” Shockingly mercenary but effectively true. A corporation is crippled when investors move their money to better- performing corporations. Fail to produce profits and the officers could be applying for an assistant manager job at a local Walmart after the next stockholders' meeting. So forget family values, fairness, even eternal damnation. “Greed is good.”

The end (profit) justifies the means. Our environment, the economy, natural resources, historical treasures, the food supply, your person and your property are endangered by the reckless obsession to earn profits. Our only effective protection is fair government regulation. As maligned as it is, good regulation has saved us from corporate pillaging that has ravaged some third-world countries. Detractors of regulation say it limits profitability. So be it. Profits versus sustainability; the choice is clear.

Corporations are not good or bad. They are just institutions. They do good things, maintaining the economy and providing jobs, and bad things, polluting the environment, endangering and abusing workers, and destroying smaller companies. They are tools, extremely powerful tools that need judicious control.

Corporations are even less comfortable with regulations than the typical teenager. Both will go to extreme lengths to evade regulation. The outrageously dangerous thing is that the Citizens United ruling has effectively given corporations permission to buy their own regulators/politicians, a bonanza for corporations and sleazy politicians. The foxes are feeding the dogs that guard the hen house.

The corporate super PACs are pouring millions into ruthless TV slander attacks that are defined by misleading and blatantly false accusations. Will they buy the election of puppet legislators? It is up to us. Be aware of Super PAC slander ads and inform others. When voting be sure you are not electing a corporation puppet.

Warren Riley — Franklin, N.C.





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