Quote:
Originally Posted by No_Recess
Corporations are chartered and created by the State. What about that is hinkey?
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That's exactly right. If people don't like it, then they need to start talking to their State legislators.
At one time, a corporation could do one thing and one thing only. That means you either make movies, or you own a TV station, but you couldn't do both at the same time, unless you started a whole new corporation, and you couldn't merge them, because they didn't do the same thing.
Yeah, I'm talking about Disney.
Also, corporations were required to demonstrate good will to the community and show how through annual reports to the State.
Over time, the State statutes governing how corporations were formed and their duties, obligations and powers changed.
And, why, yes, it was corporate lobbying groups who lobbied State legislatures for those changes to give corporations more freedoms.