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Friday, January 13, 2006

I haven't been adding many thoughts here but thought that this article was important enough to start up again.

Wal-Mart vs. Delaware

Why is this important? After my law class last quarter it is clear that Delaware is an important state for commerce since many of the publicly held corporations are incorporated in this state. This law, while appearing to only apply to Delaware brick and mortar, indicates that a state that leads the thought for corporate statutes is clearly sending a message to businesses that the social contract for a corporate charter still requires them to be good social citizens - that is, when their actions and policies hurt society (off loading healthcare to society to drive up shareholder value) government must intervene. I firmly agree with this policy as it sets a minimum standard that large corporations must uphold. This is no different than unemployment, workman's compensation, and other similar requirements.