benefit corporation

Benefit corporations are a type of for-profit corporation authorized by 30 states and DC.

Their goal is to have a positive impact on workerss, society and environment.

Low, stable profits should be primary goal of benefit corporations, in my opinion. Not maximizing shareholder returns.

Large scale adoption of benefit corporations will increase number of people in the Comfortable Middle Class.

Here are features, I believe, benefit corporations must have:

Maximum Profit - High enough to attract investors. Suggest 5%.

Executive Compensation - Total annual compensation for executives will be maximum of 10 times national median family income.

Employee Benefits - Health care plan, 401(k) retirement plan, paid leave and other benefits prorated for each hour employee works in a month.

Transparency - Business operations will be subject to outside auditors. Includes internal/external communications and documents. No secrets.

Pay Levels - Living wage of each metropolitan area where offices and facilities are located.

If benefit corporations can not compete in global economy, they will simply compete in the national economy.

To get fair distribution of wealth, benefit corporations
must dominate our business system.

Written By: Dennis Wilmeth
Published: 4/18/17
Revised: 11/3/17
Email: wilmeth@verizon.net

     

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