In theory, a corporation can only operate under a charter that is granted to it. In the late 19th century, various states had provisions about the right to revoke charters if corporations got out of line. This is a rather moot issue as of late, but should it be? If the consumers are the invisible hands of the economy, shouldn't they also be the hands that fold a given company in their neighborhood if they determine that they want to do so?
Here is a radio discussion on revoking corporate charters.
http://www.alternativeradio.org/programs/GROR002.shtmlHere is some other material as well.
QUOTE
For most of the 20th century, American citizens have become accustomed to challenging corporate harms and corporate abuses of authority one harm at a time - one clearcut Timber Harvest Plan at a time, one toxic spill at a time, one plant closure at a time. It wasn't always like this. From the American Revolution through the end of the 19th century, a corporation was an artificial, subordinate entity with no inherent rights of its own, and incorporation was a privilege bestowed by the sovereign people. For example, in 1834 the Pennsylvania Legislature declared:
"A corporation in law is just what the incorporation act makes it. It is the creature of the law and may be molded to any shape or for any purpose that the Legislature may deem most conducive to the common good."
Here are a few examples of how different the rules were in the US until the late 1800's:
Corporations had to have a specific purpose written into their charter (license to do business); if they didn't fulfill it, or exceeded their authority, their charter could be revoked.
Corporations were prohibited from owning other corporations.
Corporate charters were granted for a specific period of time, usually 10-30 years, and ceased to exist after that time unless they were renewed.
State legislatures set the rates which corporations could charge for their products or services.
Corporation were prohibited from donating to political candidates or charitable organizations.
All corporate records and documents were open to the public (or the legislature or Attorney General, depending on the state)
Corporation could not own land beyond what was necessary for the carrying out of their chartered duties.
Boards of directors and stockholders were held personally liable for all harms and debts. The ‘limited liability corporation’, as we know it today, did not exist.
Democracy Unlimited of Humboldt CountyQuestions for debate:
1.)Should citizens have the right to revoke corporate charters where they live if they desire to do so?2.)Would such provisions force companies to be responsive to citizens?3.)In our present state of affairs, who has more power? Corporations or citizens?