Benefit Corporation

By Stephen Poole, 8/17/2011 - Let me begin by congratulating any readers who’ve slogged through the first three parts of my analysis of the North Carolina Benefit Corporation Act, or SB 26. While those articles expose both the incompetence (or worse) of the NC General Assembly for considering such legislation and the abuse that such vague, open-ended legislation can entail, you’re probably still wanting to know just why I’ve bothered cobbling together several thousand words warning you of the perils of such a new regulation. [...]

By Stephen Poole, 8/17/2011 - When most people first hear about legislation to create a new type of corporation in which the directors must provide a “general public benefit” while being freed from bothersome constraints such as maximizing profit or considering the needs and concerns of shareholders, their usual response is, “So what? If people want to invest in a company that doesn’t care about making money, go ahead and let ‘em.” I’ll admit that was my immediate reaction when I was told about the North Carolina Benefit Corporation Act, or SB 26, which is now in the House Judiciary Committee. [...]

By Stephen Poole, 8/15/2011 - Any reasoning citizen is bound to ask why there is a third-party standard, and who creates it? After all, corporations are under the bailiwick of the Secretary of State – so why isn’t the Secretary of State responsible for creating the standards for the corporations they are licensing? Because the entire scheme is just another “public-private partnership” so cherished by the globalist, Agenda 21-loving crowd intent on wealth distribution not only inside countries, but also among countries – and public-private partnerships play an integral role because they bypass free-market competition. [...]

By Stephen Poole, 8/12/2011 - This four-part series was written in April and May of 2011 to inform North Carolina residents about Senate Bill 26, known as the “North Carolina Benefit Corporation Act,” so they might voice their opposition to what is essentially a stealth implementation of many Agenda 21 principles. It was originally published at North Carolina Freedom (ncfreedom.us.) Although the legislation appears to have died in committee, it is important that activists across the country become fully aware of the “benefit corporations” strategy because the sponsoring nonprofit B Labs Corporation is introducing the same boilerplate legislation in all 50 states. [...]