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By Robert A. G. Monks

Shareholder regulate over huge firms is worryingly susceptible and the unrestrained hunt for earnings is taking a toll at the surroundings and society. In Corpocracy, company attorney, enterprise capitalist, and shareholder activist Robert clergymen unearths how agencies abuse their strength and what we the folks needs to do to rein them in. In a transparent and cautious research, clergymen outlines a plan for reconciling the competing pursuits of companies and society via considerate shareholder activism.

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Extra resources for Corpocracy: How CEOs and the Business Roundtable Hijacked the World's Greatest Wealth Machine -- And How to Get It Back

Sample text

Maybe the fact that the letter is cosigned by the great grandson and namesake of the founder of Standard Oil, Exxon’s progenitor, will carry the day in the long run. But the signs are not hopeful. Lee Raymond had been gone for nearly two years by the time the letter was sent, escorted serenely into his golden years with a retirement package worth an estimated $400 million, awarded by the grateful board of directors he had so long chaired. In his place, ExxonMobil was now being run by Rex Tillerson.

For loaning the corporation their money and for assuming the shared risk of the enterprise—ships might sink at sea, or Indians burn and sack the trading posts—the investors in these early corporations properly expected a fair return on investment, just as contemporary shareholders do and should. Perhaps the most profound difference between the older notion of a corporation and the current one is this: An 39 40 CORPOCRACY educated Englishman of the mid-eighteenth century would have understood that the state had granted the corporation legal protections and immunities in the expectation that—in addition to producing a profit—it would be serving a specific public good.

This bottom-line driven approach to medicine has farreaching impacts. No longer is medical research to be pursued for its own sake—reducing suffering and enhancing the quality of life. Instead, policy experts urge us to consider issues of economic competition above all other considerations in funding research. These comments on stem cell research from David Gergen, an advisor to all recent presidents, are typical: ‘‘There is a larger issue in which stem cell research finds itself that also will have some compelling political impact and make a difference politically over time,’’ Gergen told an audience at Harvard’s John F.

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