I’m disappointed that despite Chairman Clayton’s assurances, today’s roundtable did not include any discussion of giving workers a greater voice at public companies.pic.twitter.com/w2UiR4JLWq
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This month I led a Senate effort calling on the Securities and Exchange Commission to use today’s proxy process roundtable to consider implementing reforms that will give workers a greater voice in public companies by giving workers the opportunity to elect company board members.pic.twitter.com/MkxwgfXhlh
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We need to do right by our workers by respecting the dignity of hard work and rewarding it by giving workers a seat at the table. It’s time we make “public companies” more accountable to people by giving workers a stronger voice.
#RewardWorkAct https://www.baldwin.senate.gov/press-releases/reward-work-act …Show this thread
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Thank you for this. We’ve got to find ways for corporations to do more than maximize shareholder profits. Their employees, their customers, their communities, their country all merit greater consideration than their shareholders.
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Also, my article, "The Case for Limited Shareholder Voting Rights," explains why workers should not have a vote in terms simple enough for even a politician to understand. https://ssrn.com/abstract=887789
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You do realize that the substance of who gets to vote for the board is decided by state corporate law. Accordingly, the SEC has no--nada, zilch--authority to regulate it. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=985707 …
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This is socialism. Never works.
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