Below is a letter to the Editor that I just sent to our local paper. If any of my readers are in North Carolina, please take this information and contact your State Representatives and Senators.
To all of my business friends in Gaston County, you are about to be squashed by the General Assembly in Raleigh if you don’t step up and stop them.
There is a legislation making the rounds in the committees that sets up C Corporations and S Corporations for a big fall. The legislation is enacting something called the “B Corporation.” This is a supposedly “new” corporate designation that sets up a “different” model for doing business. Why do we need that? We don’t. But “B Corporation” has deep pockets and expensive lobbyists who are selling this to our legislature with all sorts of cool sounding propaganda; like giving out tax breaks for “B Corporations” who use low flow toilets, or hire enough diverse minorities, or upfit their buildings to be “green,” or sell “green” products, or …just about anything that the B Corporation folks think satisfies their own agenda or criteria.
The “B Corporation” website states the idea is to give companies a “new” way of capitalizing on doing “social good,” such as Social Justice and Environmental Justice. We already have environmental laws, social programs, and a legal structure that is supposed to provide for equal protection. The “B Corporation” would create yet another system of regulations affecting whether or not your company is allowed to operate on a capitalist model of profit making. According to “B Corporation,” the profit motive is greed, therefore, you must conduct your business for “the social and environmental good.” According to “B Corporation,” doing business as a capitalist provides NO social or environmental good.” How do you like that, Mr. or Ms. Businessperson? Your business is just not measuring up! Nope. You just aren’t “good” enough.
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