Jacobin Magazine: on Corporations
Elizabeth Warren:
Proposes new federal limits for corporations
Warren would impose four changes to corporate governance. First, limit short-term stock selling by corporate executives and directors. Second, require corporations to obtain the consent of 75 percent of board members and shareholders for any political
spending. Third require corporate boards "to consider the interests of all major corporate stakeholders--not only shareholders--in company decisions." Finally, "Employees would elect at least 40 percent of directors."
Source: Jacobin Magazine on 2018 Massachusetts Senate race
Sep 6, 2018
Julian Castro:
Supported tax breaks to lure corporations
Castro's approach to job growth often involved corporate giveaways. A month after insurance company AllState announced it was opening up a bilingual customer information center in San Antonio, receiving $1.1 million from the state government,
Castro backed and voted for an incentives package that gave the company a six-year, 65 percent tax abatement, a $30,000 grant for permitting and development fees, and nominated it to be able to receive a $1.25 million refund in sales and uses taxes.
Source: Jacobin Magazine on 2020 Democratic primary contenders
Feb 15, 2019
Kamala Harris:
Tough stance on mortgage lenders fell short
In September 2011, Harris pulled California out of nationwide mortgage settlement talks with the five biggest mortgage servicers. The deal Harris got for California was ultimately much better. It provided $18.4 billion in debt relief and $2 billion in
other financial assistance, as well as incentives for relief to center on the hardest hit counties. The banks had originally only offered California, the state hardest hit by the housing crisis and fraud, $2-4 billion.
Nonetheless, the settlement was woefully inadequate. In terms of direct financial relief, underwater homeowners--weighed down by average debt of close to
$65,000 each--received around $1,500 to $2,000 each. just 84,102 California families had any mortgage debt forgiven--far short of the 250,000 originally predicted.
Source: Jacobin Magazine on 2018 California Senate race
Aug 10, 2017
Page last updated: Aug 15, 2024