Tag: Corporations

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There are two things I know about – okay, three – the Republican Party, Corporations, and the US Senate. I’ve toiled in all three vineyards over a 40+ year career – most of it in the corporate world, to be honest. I’ve been involved in 35 GOP US Senate and House campaigns in 25 states; […]

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There are two things I know about – okay, three – the Republican Party, Corporations, and the US Senate. I’ve toiled in all three vineyards over a 40+ year career – most of it in the corporate world, to be honest. I’ve been involved in 35 GOP US Senate and House campaigns in 25 states; […]

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Chad Benson is in for Jim today. Join Greg and Chad as they discuss corporate America’s spineless response to yet another political controversy. They also take a deeper dive into Joe Biden’s effort to boost labor unions by crushing freelance work. They fume as Dr. Fauci and others suddenly decide kids now have to be vaccinated before life returns to normal, and they remember the fascinating and controversial life of the one and only G. Gordon Liddy.

On this episode of The Federalist Radio Hour, Molly Kinder, a David M. Rubenstein Fellow in the Metropolitan Policy Program at the Brookings Institution, joins Culture Editor Emily Jashinsky to discuss her research into how big corporations such as Amazon and Walmart used their skyrocketing profits in the midst of the pandemic and whether their workers benefitted from the financial growth.

 

James Rickards, Editor of Strategic Intelligence, a financial newsletter and New York Times bestselling author joins Carol Roth to discuss the various reasons why different companies pay no federal income taxes, what the New York Times got wrong with the “exposé” on President Trump’s taxes and how you can reduce your own tax burden. Plus, a discussion on the Fed, the money supply and inflation. 

Plus, a “Now You Know” segment on gold. 

Elizabeth Warren, Corporate Bully

 

The fast-shifting winds of American politics have increased the odds that Senator Elizabeth Warren of Massachusetts will be the next Democratic nominee for President of the United States. Joe Biden has been lackluster at best, and his potential conflicts of interest arising from his son’s dealings in both Ukraine and China may well derail his candidacy even before the primary season begins. Bernie Sanders’s heart attack will likely scare voters, and the rest of the pack—Kamala Harris, Pete Buttigieg, Beto O’Rourke, Amy Klobuchar—have failed to connect with the public.

The bad news is that a Warren presidency would be one of the most terrifying prospects ever to hit the American system. Long on confidence but short on judgment, Warren uses her fake professorial air to support proposals that are so dangerous to the nation’s economic welfare that even potential Democratic Wall Street backers are now shying away from her candidacy.

The most recent illustration of her destructive behavior is found in her October 3 letter to Jamie Diamond of JP Morgan Chase, which demands that he follow through on the Statement on the Purpose of a Corporation that the Business Roundtable (“BR”) published to mixed reaction during the summer. The BR blundered by arguing that every corporation should be committed to delivering value to all of its stakeholders. The dodgy term “committed” blurs the line between legal obligation and business relations. As Milton Friedman argued long ago, the only stakeholders in a corporation with legal entitlements are its shareholders.

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The New York Times editorial writers, among the most progressive and “woke” on planet Earth, were at it again yesterday. This time, the issue was mostly guns. They extolled investors and customers to influence corporations to act where government won’t.  It’s no surprise the Times and others of The Left would do that. And again, […]

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From the WSJ, an elaboration on one of James Lileks’s pet peeves: lavish corporate HQ, and how they foretell a company’s decline Why does the HQ Indicator work? Investors in public companies have no control and are at the whims of management. Are a company’s leaders frugal, or do they spend shareholders’ money like drunken […]

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A few years back, in furtherance of president obama’s (sic) anti-gun agenda, Bank of America got ahead of the curve of “Operation Chokepoint” and fired Barrett Firearms as a customer. Lumping a legal gun manufacturer (and supplier of the US Army) with paycheck lenders and trying to deny them banking services under this heavy-handed justice […]

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Since this is the anniversary of the opening of the Erie Canal, it gives me an excuse to plug a book I narrated for Audible last year: Building the Empire State. It starts with the process of “settling the Revolution,” deciding how much of royal government structure to retain while designing a new country and economy. […]

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How should a failing company manage employee compensation? There is a common expectation that employees should share a company’s success by way of periodic increases to compensation. But, if so, shouldn’t employees also share by degrees in their company’s struggles? Do our laws allow such fluidity of compensation? It has recently been reported that the […]

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No Body to Kick, No Soul to Damn — Salvatore Padula

 

During the 2012 Democratic National Convention, a video was played that claimed that “government was the only thing we all belong to.” As objectionable as the sentiment behind that statement was, it does highlight the important fact that a government, at least ideally, is an association of its citizens. Recently, Mike H argued persuasively that government should be held to the same standards of accountability for its conduct as are other entities consisting of associations of individuals: corporations. While I wholeheartedly endorse Mike’s point about the relative accountability of corporations and government, one paragraph of his post caused me to pause.

When a corporation does something that would be morally or ethically wrong in the case of an individual, the people and the corporation involved are rightly punished. They may have broken a law, or they simply may lose business because of unsavory practices. Either way, we know when a corporation has done something wrong because it has violated a tenet to which we hold each individual. The rules for corporations don’t change simply because of the label “corporation,” because it is still a “person.”

Governmental Personhood

 

The Right is known to profess, correctly, that corporations are people. They are made of people and thus have the same rights. But corporations are also beholden to the same responsibilities as people.

When a corporation does something that would be morally or ethically wrong in the case of an individual, the people and the corporation involved are rightly punished. They may have broken a law, or they simply may lose business because of unsavory practices. Either way, we know when a corporation has done something wrong because it has violated a tenet to which we hold each individual. The rules for corporations don’t change simply because of the label “corporation,” because it is still a “person.”