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PIGEONREPORT

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FOUNDER & CEO, The Bird Droppings Institute For Smart Alecs
Articles Posted: 71  Links Seeded: 71
Member Since: 5/2010  Last Seen: 6/09/2011

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UPDATED: Another News Corp. shareholder calls for donation transparency | Media Matters for America

Seeded on Sat Oct 16, 2010 4:52 AM EDT
Read ArticleArticle Source: Media Matters for America
politics, palin, gossip, beck, rupert-murdoch, hate-tv, destroyed-journalism, titling-election
Seeded by PigeonReport
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Rupert Murdoch, owner of Fox News TV Nutworks, "Fair and Unbalanced" Hate TV is having his ass handed to him by stockholders for his $1,000,000 donations to Republican TeaNuts for governors. Rupert is a Rotten Scroundel who has collasped Journalism in America and turned it into "Gossip and Hate Speech" making billions in the process.

An Austrailian "religious nutcase" and right wing, Conservative Republican wacko he is wreaking havoc on the election process by dumping millions of corporate dollars into campaigns that will benefit him professionally and personally.

His paid stooges include Sarah Palin, Newt Gingrich, Glenn Beck and the entire cast of wack-a-doodles at FOX TV NEWS.

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  • Groups: 2010 Elections, Activism, American_Politics, Bar Room Debates, cheapdirtystuntsbyGOPfascists, Clinton Conservatives, DemGuys, Democrats, FAUX FOX FAILS, FIRED UP DEMOCRATS!, Free Thinkers, GOP Watch , Grey Boomers, Unite!, Gut Check America, Heated Debate, Left of Center, Libertarians, Mad For Rachel Maddow, Media Outrage, Media Watch, NeoConservative Watch, ObamaVine, Political Talk Shows, Politics in USA, Rational Progressive Party, RepubliCON Watch, Rightwingnutjobs, Tea Party Comedians, Tea Party Wall of Shame, Tea Party Watch, Way Smart, You Couldn't Make it Up!
  • Regions: Washington DC
  • Public Discussion (7)
Better Careful

There is a real legal issue here with using funds in a publicly traded corporation to please the whims and politics of the managers. The corporation is not their personal piggy bank. The management serve the corporation; the corporation does not exist to serve management.

This dynamic was exposed when the CEO of Target used funds from that corporation's treasury to indulge his personal political bent. He had no right to do that, he is not the corporation, he does not represent the will of the shareholders, or of the employees, who are also primary stakeholders in the welfare of the corporation.

Done properly, making political donations by a corporation ought to be vetted my all stakeholders, be they shareholders or employees. Those other stakeholders have a case here, I believe. The corporate treasury is not a piggy bank for the executive.

  • 7 votes
Reply#1 - Sat Oct 16, 2010 6:06 AM EDT
McSpocky

The corporate treasury is not a piggy bank for the executive.

Well put.

  • 7 votes
#1.1 - Sat Oct 16, 2010 8:57 AM EDT
PigeonReport

PDeuth: Thank you, for the clarification in comprehensible terms. I am relieve to understand that CEO's cannot and should not make large political donations to polical projects without vetting it with stockholders.

Do you know what is consequences of Supreme Court ruling that Corporations have rights similar to humans?

Again, thanks for your comments!

  • 1 vote
#1.2 - Sun Oct 17, 2010 8:53 AM EDT
wwaugh

If you are fed up with Fox and have Direct TV switch, its owned by News Corp.

  • 1 vote
#1.3 - Thu Oct 21, 2010 9:14 AM EDT
Reply
McSpocky

In advance of News Corp.'s annual shareholders meeting this Friday, shareholders are raising concerns about the company's $1 million political contributions to the Chamber of Commerce and the Republican Governors Association.

  • 4 votes
Reply#2 - Sat Oct 16, 2010 8:59 AM EDT
PaPa23

Unfortunately the indignant (and rightfully so) shareholders don't hold sufficient shares to control the management in most corporations the size of News Corp and many others. Their only option is to pull their investment and take their money elsewhere. Of course if the Arabian Prince threatened to pull his investment Murdoch might need to sit down and come to an agreement with him.

  • 3 votes
#2.1 - Sat Oct 16, 2010 11:24 AM EDT
PigeonReport

What can we do to help stop this trend?

As a former downtown retivalization specialist, managing downtown associations and setting them up in communities that did not have or had an organization that had fallen off track - I frequently found myself battling the local Chamber of Commerce.

I served as an Executive Director of a Chamber of Commerce and was recognized by the US CHAMBER OF COMMERCE for the creation of the Xenia Chamber of Commerce charge card, which was one of (or the first) private label creidt card for a downtown association (XMA).

However, I quickly determined that the local chamber can be the local business mafia providing special favors to some businesses and punishing others. Privately, I referred to Chambers as the CHURCH of Business.

Chambers, like any organizations, due provide a lot of benefits to their members, but, they are not receptacle to change and are frequently part of the problem rather than part of the solution.

  • 1 vote
#2.2 - Sun Oct 17, 2010 9:11 AM EDT
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