Miniver Press, 2013 (2013)
Reviewed by Bob Walch
alling his book '
a warning, a plea for involvement, and a call to arms
', Robert Monks, in essence, is urging his readers to take back control of the companies, as stockholders, they own. Of course, if you don't own a large block of stock this is easier said than done!
The most powerful CEOs have effectively seized authority over a vast range of America's corporate resources, and through those resources over the nation itself,
' states Monks. Once he outlines the problem and how it also touches the reader, the author shows how those in charge of pension funds, endowments and foundations can use their influence to institute the necessary reforms to correct the problems of corporate governance that are now so prevalent.
mong other things, the suggestion made that would enable the trustees of these foundations and pension funds to improve the situation would be demanding that, as a condition of investment, corporate management must disclose publicly and seek shareholder approval for all politically motivated lobbying and contributions. Also, an accounting system that '
holistically represents the full impact of corporate functioning on society
' should be instituted.
dding his voice to those who are demanding a change in how America does business and how corporate management governs, Robert Monks has offered some food for thought. How seriously anyone takes this individual who has served in the Department of Labor as Administrator of the Office of Pension and Welfare Benefit Programs remains to be seen.
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