Re: Re sorting the issues

[Shann Turnbull <sturnbull@mba1963.hbs.edu>]

Alan Zundal has stated my position clearly when he responded to my
clarification by saying:

"If I am following you, I think you are saying that "redistribution" may be
a deceptive term because it implies that 
present ownership claims and privileges are taken at face value as being
just or natural or something. (Anyway, that is what I think about it.)"

After my presentation to 1991 annual meeting of the ESOP Association in
Washington D.C. Kelso advised the audience "not to listen to me" because I
was proposing to change the rules of ownership. Kelso considered this
appropriation as he did not recognise that I was proposing tax incentives
to allow market forces to introduce the change.  Kelso emphasised that his
proposals were not to take away from the existing owners or seriously
dilute them but to create new owners from expanding businesses.  But this
shows why ESOP's are a palative rather than a cure for concentrated ownership.

Alan raised the point that ethical issues become involved in deciding who
"merits" a piece of the ownership action.  I take a pragmatic approach that
no business can exist without employees, customers and suppliers, which
includes the host community. So it makes good business sense to cut these
people in on both ownership and control.  The opposing but collective
mutual interests of these strategic stakeholders provide a basis to improve
efficiency through social tensegrity and to introduce elements of
self-governance.  Refer to "Stakeholder governance"
http://cog.kent.edu/lib/turnbull6/turnbull6.html and subsequent writings
listed on my webpage.

Regards

Shann

At 05:44 PM 2/11/1999 , you wrote:
>Some responses to Shann and Keith below.  (My only response to Michael's 
>comments about income security is that I agree with what he had to say.)
>
>First to Shann:
>
>"I would like to clarify point 3b of the overview presented by Alan Zundel
>who has presented Kelso's view as mine..."

Shann Turnbull
P.O. Box 266 Woollahra, Sydney, Australia, 1350
Phone: 02 9328 7466 office; 02 9327 8487 home
Fax: 02 9327 1497 home & office.  Mobile 0418 222 378
Outside Australia, replace first "0" with "61" after international access code
Life long E-mail: sturnbull@mba1963.hbs.edu
http://www.mpx.com.au/~sturnbull/index.html