Wednesday, February 2, 2011

Thanks Citizens: An Artificial Barrier to Entry

So, assuming that a corporation's free speech rights derives from the free speech rights of its composite individuals, it seems those individuals have quite an obstacle course to navigate before they can exercise those rights through the corporate megaphone:

Meanwhile, New York City Comptroller John Liu and the city’s pension funds have called on six companies (Charles Schwab, Coventry Health Care, DTE Energy, Regions Financial, Sprint Nextel and WellCare Health Plan ) to disclose their political contributions.

The firms were “non-responsive” during the 2010 proxy season, although other companies engaged with at the time, such as AES Corp., Altria Group, Humana and Norfolk Southern agreed to become more transparent on the issue.
So, you've got to mass a proxy contest to even find out how the company is going to exercise its free speech rights.  And then, I suppose by the next yearly shareholders' meeting, you can put together a proposal as to how the corporation ought to have exercised it.

And hopefully, by then, the election won't have happened yet.

Fantastic.