As Governor, Myrth will issue an Executive Order to promote corporate reform by prohibiting state contracts from being awarded to corporations that attempt to dodge United States? taxes by setting up mailbox headquarters in offshore tax havens
like Bermuda. These relocations allow companies to avoid paying taxes and skirt legal protections for investors. As Governor, Myrth will not allow the state to do business with any of these expatriate companies, absent a compelling reason.
Source: Campaign web site, MyrthYork.com, "Issues"
Aug 15, 2002
Reform the State Investment Commission
As Governor, Myrth will:
Increase criminal fines for security fraud by increasing the maximum fines from $10,000 per offense to $250,000 per offense.
Protect workers? pension funds by calling on the RI Investment Commission
to give investment preferences to companies that:
have a majority of their board members who have no company ties or consulting relationships with the corporation,
provide employees and pension managers with accurate financial information
regarding the corporation,
reduce the practice of ?golden parachute? payouts to corporate executives when they leave the company, and
provide their employees with the same rights that managers have to sell their stocks and stock options in order
to diversify their 401K plans.
Use the state?s power to advance corporate reform via the proxy voting process.
Appoint individuals who proactively support corporate responsibility measures to the State Investment Commission.
Source: Campaign web site, MyrthYork.com, "Issues"
Aug 15, 2002
