Remedies
Charters
All major corporations should be chartered with ethical standards as an essential part of each charter. Every charter should have a requirement to act in the public interest. Violation of these charter element s to result in penalties including reparation payments to those harmed, possible punitive penalties and or revocation of the charter.
Charters should be overseen at all levels in which the corporation has activities, that is: international, national, state and or local.
Charter reviews should be held at appropriate intervals, be they 1,2,3,4,or 5year intervals. Ordinary citizens should have the right to make submissions to the reviews and should be able to request action be taken.
Boards & Controlling Bodies
Controlling bodies of corporations shall be required to have elected representatives from the body of the small shareholders, the shopfloor employees and the general community. Before the election the candidates for such positions shall be given reasonable access to the publications of the corporation to put the case for their election.
This is designed to make corporations more open and transparent in their activities and to assist the corporations to become more sensitive to the general community. It is intended to break the “closed club” nature of boards and the old-boy/girl networks.
Personal preference would be for the very successful model developed by Ricardo Semler at Semco, where employee may attend any board meeting and have access to records and accounts.