HOMESTEAD: Please remove me from the list for the time being, thanks

[Graham Forrest <bolitafed@yahoo.co.uk>]

 --- Vic Thorpe <just.solutions@pandora.be> wrote: >
Deb,
> Noting the reference in your copy letter to the
> Enron stock situation, here
> is one summary report of the situation that has hit
> employees' 401K and
> other arrangements.  It is a scandal of corporate
> governance and underlines
> the need for employees to have a defining say over
> what happens to their own
> money - rather than allow company managements, or
> pension fund managers, to
> treat their employees future income as if it were a
> corporate slush fund.
> It is the best argument against employee stock
> ownership without employee
> participation in its control that I can think of.
> Vic
>   -----Original Message-----
>   From: owner-homestead@cog.kent.edu
> [mailto:owner-homestead@cog.kent.edu]On
> Behalf Of Deborah Groban Olson
>   Sent: 05 December 2001 23:17
>   To: Homestead
>   Subject: HOMESTEAD: Fwd: Update on chat w/ King of
> Sen. Corzine's office
> 
> 
>   Dear Homesteaders:
>           Attached is a portion of the email I sent
> Gene Fisher of
> Congresswoman Carolyn Cheeks-Kilpatrick's office
> regarding the Fair Exchange
> (SQPQ) proposals I have been working on at his
> request. Based on my
> discussions with him and Senator Levin's staff, I
> was asked to send the
> proposals to Senator Corzine who drafted the Airline
> Bailout bill proposals
> on equity compensation for the government. I would
> appreciate your thoughts
> on how to craft these proposals to meet the needs of
> the policy makers as
> expressed by them. The actual requested language I
> sent to Fisher and King
> are  in my last posting to Homestead addressed to
> David Ackerman of the ESOP
> Association Legislative and Regulatory Committee.
>   Deb
> 
>     Date: Wed, 05 Dec 2001 18:06:43 -0500
>     From: Deborah Groban Olson <dgo@esoplaw.com>
>     Subject: Update on chat w/ King of Sen.
> Corzine's office
> 
>     Dear Gene:
> 
>             Today I spoke with Bruce King of Sen.
> Corzine’s office. He
> understands the idea that global hegemony is moving
> from nation states to
> corporations and why that is a problem for
> democracy. He is willing to look
> at proposals. He is not interested in pushing stock
> ownership right now when
> the market is down. He feels that now is a bad time
> to push ESOPs because so
> many people, including employees, lost their shirts
> in Enron stock, etc. (I
> think he said that employees were obliged to own
> stock at Enron.)
> 
>             He also thinks that if the government
> gets reimbursed by
> corporations for government investments, all
> taxpayers benefit. I think that
> is true on the macro level.  However, it is
> dependent on how the government,
> at any particular time, allocates those funds. An
> equity stake to the
> government doesn't do enough to build a second
> stream of income for citizens
> or give them voting rights in the increasingly
> powerful corporations.
> 
>             Now , when global companies are needy
> and coming to the US
> government to invest in them, is an opportunity to
> get US citizens a needed
> financial stake in the global economy. This
> investment stream of income will
> be increasingly important in for all US citizens in
> the near future. Now
> that the Social Security Fund is expected to be
> underfunded in 15 years and
> both  technology and globalization are decreasing
> the number of US jobs
> needed to produce goods sold in the US, wage income,
> social security
> insurance or individual development accounts will
> not be an adequate source
> of sustenance for an increasing number of Americans.
> Perhaps the forum in
> which to join this issue is not employee ownership,
> but instead social
> security, unemployment or trade.
> 
>             Congress should not miss out on this
> opportunity. During the
> next stock market upturn, the companies will not
> need government help.
> During the following downturn the process of
> corporate hegemony will likely
> have progressed.
> 
>             Bruce King is willing to look at more
> proposals, but he wants
> the draft proposal to have more timely political
> resonance that does not
> smell of underwater stock options,  and devalued
> ESOP stock.
> 
>             Do you have any reaction to:
>             1) The proposals I sent in the email to
> King.
>             2) These comments on King's reaction.
>             3) How to frame the issue to make it
> politically attractive?
> 
> 
>     Many thanks for your time and interest.
>     Deb Olson
> 
> 
>   Deborah Groban Olson
>   Attorney at Law
>   of counsel to
>   Jackier, Gould, Bean, Upfal & Eizelman, P.C.
>   1021 Nottingham Road
>   Grosse Pointe Park, MI
>   Phone:(313) 331-7821
>   Fax:  (313) 331-2567
>   Email: dgo@esoplaw.com
>   Web site: www.esoplaw.com for information on
> employee ownership, equity
> compensation, and capital strategies,
> www.jackiergould.com for information
> on general business law practice.
> 
>   This message is intended for the sole use of the
> individual or entity to
> which it is addressed, and may contain information
> that is privileged,
> confidential and/or exempt from disclosure under
> applicable law.  If the
> reader of this message is not the intended
> recipient, or the employee or
> agent responsible for delivering the message to the
> intended recipient, you
> are hereby notified that any
> dissemination,distribution or copying of this
> communication is strictly prohibited.
> 
> 
> 
> 
> 

> ATTACHMENT part 2 application/msword
name=Enronpensions.doc
 

__________________________________________________
Do You Yahoo!?
Everything you'll ever need on one web page
from News and Sport to Email and Music Charts
http://uk.my.yahoo.com