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Issue No. 131 | 12 April 2002 |
Cry Freedom
Interview: Cross Wires International: Two Tribes Activists: Beneath the Veil Unions: Terror Australis History: A Labor Footnote To The Royal Funeral Economics: Private Affluence, Public Rip-Off Review: The Great Hall of the People Poetry: Waiting for the Living Wage Satire: Israel Recruits NAB To Close West Bank
Baby Company Punts Netball Mum Dairy Workers Win Global Breakthrough Treasury Modelling Backs ACTU Claim Come Clean � Insurance Giants Challenged Job Security Win For Cabin Crew Workers Gear-up For Pollution Fight Shuffling The Deck On The Yarra Doubts Over Ettalong Wharf Funding
The Soapbox The Locker Room Week in Review
A Voice for the Shareholders Noses in the Trough Bugger Off Memo: Carmen Lawrence Police: Make the Boss a Woman Baby Faced Brogden Workers Online - Aoteroa
Labor Council of NSW |
Letters to the Editor A Voice for the Shareholders
Your interview with Geoff Walsh and your editorial both highlight the challenge for Labor and the Trade Union movement as it seeks to ensure governments retain the ability to intervene to ensure social justice in a world dominated by big business and multinationals. If new ideas are needed, here is a suggestion. Currently major corporations are dominated by the big shareholders, through the block votes from their large shareholdings, and those of institutions which they indirectly control. Australian corporations law could be changed to ensure that one Director of major companies was elected on a "one shareholder, one vote" basis. This representative would in effect become the voice of the mum and dad shareholders, some of whom are now trade union members. This would ensure that the interests of the small shareholders would be taken into account in decisions such that of the Coles-Myer board to discontinue shareholder discounts. The independent director may even play some role in better corporate governance, by asking the tough questions. This could help prevent repeats of HIH, OneTel and the like. Worth a thought - or is the Third Way of Mark Latham and the like just code for the ALP becoming simply adopting the same free market policies of Labor's traditional opponents? Noel Blaxendale
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