by Leslee Kulba
Wild West blogger
Chuck McGrady is trying to make North Carolina business more sensible, in my opinion. There is no need to relive the past, but I sympathize with a research effort that went defunct because of the overhead deemed necessary though insufficient to make it legal. As they say, truth is the first casualty in war.
Under current corporate law in North Carolina, corporations are not allowed to serve a purpose beyond maximizing profit for its shareholders. The North Carolina Benefit Corporation Act [House Bill 534], however, would allow businesses to accomplish goals that go beyond the bottom line.
If the markets were free, business people would be able to spend their profits however they want, right?