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Yeah, it seems like a very simple argument that since every individual owner of a corporation gets a vote, that the owners as a group should not get an additional vote.
I mean, the courts are no longer about what’s logical or fair, obviously, but still.
Nonresident voting in local elections has been permitted in Fenwick Island since it was incorporated in 1953, according to the court ruling. In 2008, Delaware’s General Assembly amended the charter to allow non-resident voting by artificial entities, including corporations, partnerships, trusts and limited liability companies, which must be chartered in Delaware.
Several other towns in Delaware allow companies and other legal entities to vote in local elections if they own property in the municipality.
So not only is the state of DE a tax haven, and cravenly pro-corporate at that, but this would allow all those companies chartered there (with nothing more than a rented closet and PO Box) to continue to vote for the status quo. If the good people of that state wanted to vote these assholes out and/or make corporate voting illegal, it’s possible that they no longer can.
“However, plaintiff has not demonstrated that this policy violates the principle of one person/entity/one vote.”
Never in my life have I ever seen it written this way.
I also like the note about there being “far more corporations” in DE than residents. So I guess this is just a case of it not having been demonstrated yet. I wonder how much it costs to license a company in DE. I wonder how hard it would be for the Internet to absolutely make these morons eat their words. 2 elections? 3?
Which bill are you referring to?
Quick search, I found this from Reuters
Holy shit that is insane
So I can buy a building and sell closet space to other companies (which I also own) for infinite voting power. This is absurd.
What’s preventing a megacorp from buying a bunch of small shell companies and voting in their own best interest?
I am curious how the voting actually works, though.
Or every citizen to register ten corps each and fight back with more votes… Won’t end well, no matter.
Apparently you also have to own land so average folks are hosed.
There it is. 😐
Yeah, it seems like a very simple argument that since every individual owner of a corporation gets a vote, that the owners as a group should not get an additional vote.
I mean, the courts are no longer about what’s logical or fair, obviously, but still.
Oh no. It’s not even new. WTF, Delaware?
So not only is the state of DE a tax haven, and cravenly pro-corporate at that, but this would allow all those companies chartered there (with nothing more than a rented closet and PO Box) to continue to vote for the status quo. If the good people of that state wanted to vote these assholes out and/or make corporate voting illegal, it’s possible that they no longer can.
Can we just wipe Delaware off the map and replace it with Puerto Rico?
PLEASE DO!
Never in my life have I ever seen it written this way.
I also like the note about there being “far more corporations” in DE than residents. So I guess this is just a case of it not having been demonstrated yet. I wonder how much it costs to license a company in DE. I wonder how hard it would be for the Internet to absolutely make these morons eat their words. 2 elections? 3?
$110 to file an LLC, plus $300/yr fee.
This is the next thing for the r/wallstreetbets folks should do! Put all that GME $$$ to good use!
I like that except they will definitely find a way to undercut that right quick just like they did with the GameStop stuff, illegally I might add
Wait what did they do with the GameStop stuff? I haven’t heard of this.
Robinhood canceled a bunch of people’s trades retroactively because it was harming the corporations that were shorting the stock.
It’s funny I was looking through my notifications and saw this one after replying to the other guy with my GME comment.
So, the ruling requires you to own land.
So someone should buy a few acres and sell 1x1 foot lots for a boat load of money.