Harvard Business Review: Harrington Comments on Corporate Political Spending

A recent Harvard Business Review (HBR) case study asked the question “Do Business and Politics Mix?” The study was based on a fictionalized company that chose to donate to a super PAC promoting political candidates with strong pro-business platforms. The contributions had a negative impact on the company when one of the candidates it supported took a controversial stance against gay marriage and news of the company’s connection to him spread. The case is based on dilemmas faced by leaders in real companies trying to determine the cost and benefits of making political campaign contributions. Read More »

Harrington Asks Starbucks’ Board of Directors to Establish “Real” Sustainable Policy

Napa, CA — Harrington Investments, Inc. (HII), a socially responsible investment advisory firm with more than 30 years of experience directly challenging corporate power, is asking Starbucks to be clear with shareholders about who is ultimately responsible for keeping the company’s sustainability promises. Read More »

Harrington Opens New Season Fighting for Corporate Accountability

Napa, CA — Harrington Investments, Inc., (HII) a 32-year-old investment firm advocating socially responsible behavior by corporations, is kicking off a new campaign this fall, fighting for shareholders seeking corporate accountability reform.

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McDonald’s Ruling Sets Ominous Tone For Franchises

The Wall Street Journal reported that the National Labor Relations Board (NLRB) has ruled  the McDonald’s Corporation can be treated as a joint employer with its franchisees in labor complaints. The ruling could have far-reaching implications for how the company deals with workers and the violation of their rights.

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Walgreens: American Icon Considers Going Rogue

Over the past year there has been a sudden flurry of U.S. companies taking advantage of a loophole that allows them to avoid paying U.S. corporate taxes by reincorporating overseas. Called “inversion”, large companies such as Pfizer and Omnicom Group have already tried to employ this gimmick to shore up their bottom lines, while leaving U.S. taxpayers holding the bag. Now one of the most American of companies, Walgreens, which in some areas of the U.S. has stores every few miles or even every few blocks, is considering joining the fray.

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Corporate governance: the resurgent activist

The US Chamber of Commerce calls it “minoritarianism, the tyranny of a minority”. Dan Gallagher of the Securities and Exchange Commission says annual meetings have been “hijacked” by “corporate gadflies”. Leo Strine, the chief justice of Delaware, where most big US companies are registered, says shareholder democracy has wrought a “constant ‘model UN’ where managers are repeatedly distracted by referendums on a variety of topics proposed by investors with trifling stakes”.

Read the entire article in The Financial Times

Can a Post Office Be a Bank?

There has been lots of controversy over the U.S. Postal Service’s plan to sell off dozens of post office properties across the country by a real estate firm chaired by the husband of the Senior U.S. Senator from California, presumably to raise money to save the agency. Instead of privatizing the post office, there may be a better way to raise revenue for the post office by providing financial services for many who need access to credit and short-term capital.

Read full article in the Huffington Post

 

Courageous Wall Street Journal Defends Corporate Lack of Transparency, lol

Dear Editor,

I am bursting with pride and admiration that the Wall Street Journal’s May 23, 2014 editorial “Good News in the Proxy Wars” clearly and unequivocally defended the right of large, defenseless and badly treated corporations to continue to refuse to disclose the millions of dollars they launder to politicians and ballot measures through 501C4 “social welfare” organizations such as the Chamber of Commerce and Business Roundtable.

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Financial Parasites Are Still With Us, But Hopefully Not for Long

Almost four years ago, I wrote about a new non-profit check cashing and payday lender that opened in the Fruitvale area of Oakland, California in the San Francisco Bay Area. This alternative to private sector financial parasites, for-profit check cashers and payday lenders, has not only survived, but is growing stronger by the day.

Read the full article in The Huffington Post

The U.S. Chamber of Commerce: Representing Neither Great Men Nor Bad Men

It lights up my natural life that the U.S. Chamber of Commerce has once again proven itself to be above human beings, shareholders and other stakeholders in our society by proposing to destroy owners’ free speech and protect the rights of authoritarian corporate management. It really goes to prove that Lord John Acton was right: “Absolute power, corrupts absolutely.”

Read the full article in The Huffington Post