Replies

You are still not quite getting it. There are NO CORPORATE RIGHTS, just HUMAN RIGHTS ~ mine to be specific, and if you mess with my stuff (I own shares in numerous coporations) you are messing with me.

muawiyah, I agree that, if you own the controlling interest in a stock company whose officers you can thus summarily appoint or dismiss at will, or if you have enough proxy votes to obtain a seat on the Board of Directors, that company might fairly be regarded as a "projection" of your personality, and its policies, methods, short-range goals, and day-to-day actions as expressions of your views, opinions, and judgments.

But in the case of large companies listed on the Stock Exchange, the tens of thousands of small investors who own stock in them, and who can participate in annual stockholders' meetings, during whieh they can vote on selected issues and choose from a short list of candidates for a handful of executive positions, have no real "say" in the companies' operation. At least, they have no influence on (and probably not even actual knowledge of) a given company's support (lobbying) for, e.g., certain candidates for political offices in other states. The retail investors do not have the resources to actively follow the company's handling of, e.g., law suits for the clean-up of contaminated sites in New Jersey, the company's patent violations in another country, the company's perhaps legal, but ethically debatable practices regarding the use of bribes in some Middle Eastern principality where it wants to negotiate contracts, etc.

The small investors are so far removed from the positions of power, and have so little understanding of the company's inner workings, that the company cannot be fairly regarded as even the reflection of a shadow of the small investors' motivations, convictions, and judgments.

It may be hyperbole, but I dare say that even the Soviet Union was a fairer representation of the will of "the People" than, e.g., General Electric is of the will of the tens of thousands of small investors who have entrusted their money to it.

It is simply farcical to assert that your typical company listed on the NYSE is accountable to "the owners" in any meaningful way. When G.E. subtlely influences the outcome of democratic elections or the passage of bills in Congress, I dare say that often times a majority of the stockholders would be appalled by the company's stance.

Most retail investors know that they should be happy if they get a decent return on their investment, and have no illusions about expressing their political will through the company.

Regards,