SENATE BILL: Co-determination Act of 2013 (Veto Override Failed)

[Southern Senator North Carolina Yankee]

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Sponsor: TNF

[Southern Senator North Carolina Yankee]

The sponsor has 24 hours to begin advocating for this.

[TNF]

The Co-determination Act will give workers the right to a voice in the corporate decision-making process. This will strengthen the workplace in that it will devolve more responsibility to workers themselves as well as encourage more humane corporate decision making. It works in Germany, it can work here, and the Senate should enact it with all due haste.

[President Tyrion]

Support wholeheartedly

[Southern Senator North Carolina Yankee]

I ask unanimous consent to waive the minimum debate and cloture requirements to proceed immediately to a final vote, Senators have 24 hours to object.

[Southern Senator North Carolina Yankee]

With no objections having been entered, the rules are suspended and vote shall commence immediately. Senators, this bill is now at final vote, please vote Aye, Nay or Abstain.

[President Tyrion]

Aye

[Maxwell]

Nay

[Southern Senator North Carolina Yankee]

NAY

[TNF]

Aye

[tmthforu94]

Nay

[Хahar 🤔]

Yea

[bore]

Aye

[PPT Spiral]

Nay

[Fmr. Pres. Duke]

Public companies duties are to its shareholders. That's basic business law. Sorry, guys, I cannot sign this. If the shareholders vote for a representative to join the board, fine, but we cannot dictate things like this. It will also breed corruption among the unions to have that much power. Courts have held that board members should be disinterested aka have no ties to any special interests, and have no agenda except maximize shareholder gain, and these board members clearly would have their own agendas.

This is an ideological difference, nothing more, nothing less. I am basing this on my legal education. Cue the harassment.

[TNF]

No corporate board member is disinterested.

[Fmr. Pres. Duke]

No corporate board member is disinterested.

One could argue that, but in theory they are supposed to only have the shareholders and what's good for the business, not their own interests, in mind.  We could argue all day on about whether that's actually the case...

[TNF]

No corporate board member is disinterested.

One could argue that, but in theory they are supposed to only have the shareholders and what's good for the business, not their own interests, in mind.  We could argue all day on about whether that's actually the case...

Who knows better about what's good for the business than those who work for it?

[Fmr. Pres. Duke]

Do you think the average employee knows anything about running a business? Or what's good for business? Don't get me wrong, some do, but I've worked retail and hospitality before, and for the most part, the employees didn't have a clue. They just wanted their paycheck and to get out of there at the end of the day.

Either way, mandating who is on the board of public or private companies infringes on corporate governance and that's not something I can get behind. Unions are free to negotiate and organize as much as they want and recruit workers, as I believe they play a part in the process, but installing them on company boards will lead to a board that is interested in bettering the union and not the actual shareholders of a company.

Now, I know you and I have different views on what's the best form of government, so you will disagree with me entirely, but that's okay. Different ideas are what makes life interesting.

[Gass3268]

Aye

[DC Al Fine]

No corporate board member is disinterested.

One could argue that, but in theory they are supposed to only have the shareholders and what's good for the business, not their own interests, in mind.  We could argue all day on about whether that's actually the case...

Who knows better about what's good for the business than those who work for it?

Right because we all know that the guy on the assembly line is totally qualified to plan the capital budget

[Southern Senator North Carolina Yankee]

Was going to call 24 hours here, but it ends just after midnight so it would be pointless.

[Southern Senator North Carolina Yankee]

Final Vote on Senate Passage of the Co-determination Act of 2013:

Aye (5) bore, Gass3268, TNF, TyriontheImperialist and Xahar
Nay (4): Maxwell, NC Yankee, Spiral and Tmthforu94
Abstain (0):

Didn't Vote (0):

With five votes in the affirmative and four in the negative with time having expired, the bill has passed and has been presented to the President for executive action.

[Southern Senator North Carolina Yankee]

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[TNF]

I am open to entertaining a redraft if the President would consider it, rather than vetoing the bill. At any rate, if the bill is vetoed, I will continue to place it in the queue until it becomes law.