Posted on 03/01/2006 10:24:20 PM PST by calcowgirl
Rekindling a political power struggle between unions and business interests, proposed legislation would require corporations to ask shareholders whether they approve of contributions made to California candidates or ballot measures.
The legislation--backed by the California Labor Federation, AFL-CIO--orders corporations to provide shareholders with a list of contributions made in California. Shareholders could then reject individual contributions and receive back their pro rata share.
(snip)
The chamber and other business interests backed Proposition 75 in November, which would have prevented public employee unions from making campaign contributions without approval of their members.
In retribution, the California Teachers Association, Service Employees International Union and other labor groups circulated an initiative to impose the same requirements on corporations.
But after the defeat of Proposition 75, the two sides agreed to a truce. The unions dropped their initiative.
"We're trying to work together to resolve policy issues," Zaremberg said.
Dunn's bill would require companies to present shareholders an annual list of contributions made to California candidates and ballot measures. The shareholder has two months to review the list and object to any--or all--contributions on it.
Shareholders can request being reimbursed their pro rata share of the contribution, which for large corporations might be less than a penny.
Politically, the measure also puts Gov. Arnold Schwarzenegger on the spot.
Last year, during the campaign for Proposition 75, the GOP governor said he also favored corporations getting shareholder approval before making campaign contributions.
"No one--if it's a corporation or stockholder or union member--no one should have money taken out of their paycheck without permission and have it used for political campaigns," the governor said at an Oct. 23 town hall meeting.
(Excerpt) Read more at shns.com ...
More idiocy from the commies in Sacramento
"The legislation--backed by the California Labor Federation, AFL-CIO..."
So they think Stockholders should get privileges they deny union members? Wonders never cease.
Technically inaccurate. Here's the corrected version:
Rekindling a political power struggle between unions and business interests, proposed legislation would require corporations to ask CALPERS whether they approve of contributions made to California candidates or ballot measures.
They think Stockholders should get privileges they deny union members that are mandated by a Supreme Court decision (Communications Workers v. Beck).
Guess how much this would cost a corporation? Guess how owns a major part of each corporation? Unions. Really smart
If it did impact a corporation that much, they would likely take the headquarters out of State. That loss of revenue might be significant.
Who needs the corporations? All they do is pay taxes and give people jobs. Better people work for the government, at least they employee people and they can always raise taxes to pay for it. Taxes are good---Profit is bad ( I learned that in public school)
Actually they own a lot less in any corporation than they pretend that they do, and they full well know it. It doesn't stop them from lying about it though. They know it's a ruse.
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