Wednesday, December 29, 2010

What a Year: Reflections on 2010

Looking Back
Like everyone else, Bob is reflecting on 2010. It was a rocky year and one which saw the entrenchment of corporate power and the fall of governance. Bob identified several key events for the year here in the U.S.,  with Citizens United and the Schumer Bill at the top of his list.  He talks about both in new video, saying "So, after the judiciary [in the Citizens United case] had put a stake in the heart of corporate governance, the legislative and the executive branch in the deliberations that led to the [Schumer] bill finished the process."

Citizens United started the year on a sour note and never really went away. Bob asked why that case piqued public interest and goes on to conclude that it was because, "The court was extremely aggressive when it came to advancing business interests...deciding, in effect, that corporations were going to be able to make their own rules." (view video)

In a follow up video, I asked him if the case was about free speech. He replied with some exasperation that the outcome of the case means that, "corporate speech is what the CEO says it CEO's have a protected right to direct corporate resources into elections, to lobbying and this is a change in the nature of the office of the CEO because he becomes a competitor for power within the Republic of the US."

Death knell of Corporate Governance
The Schumer Bill may not be on everyone's list of the years' pivotal events. It was a weak bill that died a weak death. Bob dissects the main points in this video as evidence that even presenting such a poor bill was a bad sign for governance. He goes on to express amazement that such lukewarm legislation failed to get support in what would seem to be a sympathetic administration. This piece is a bit longer than most of Bob's clips but worth it to hear him address points that were championed in the bill and often come up in corporate governance debates.

What do you think?
So, a rather gloomy end to the other video, Bob recently asked his Facebook readers "what happened?!"  He'd really like to hear from you on what went right or wrong this year and what were the important events. Chime in on Facebook or email him at

Happy New Year & thanks for visiting the blog
December 29, 2010  |  0 comments  | 

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