Gosh, This Will Sure Help

Hmm, maybe it’s me, but it seems something’s missing from this exciting and bold legislation

TRENTON, N.J. (AP) – The New Jersey Assembly on Thursday is expected to vote on a package of bills to help the state’s economy as national leaders grapple with the Wall Street financial meltdown.
The seven-bill package, spearheaded by Assemblyman Patrick Diegnan, D-Middlesex, would loosen New Jersey’s corporate law requirements to make it easier to operate a business in the state.
…Specific measures include:
_ Allowing corporate notices to directors and shareholders to be sent electronically.
_ Eliminating a rule requiring at least 10 days’ notice to shareholders about items that could be voted on.
_ Simplifying rules involving the resignation of corporate directors.
_ Providing speedier options for businesses filing with the state Division of Commercial Recordings.
_ Giving corporations more flexibility to adopt alternative voting methods to select directors.
_ Expanding the types of foreign business entities allowed to merge with corporations in the state.
_ Give corporations more flexibility to award stock grants instead of stock options to executives.

Sure, it’s nice having fewer rules for Board of Directors…I guess. Although given how brilliantly various Boards of Directors have performed of late, I’m not sure making life easier for them is such a winner of a plan.
But what about something crazy and wild like, oh, I don’t know…say lower taxes and other measures to lower the cost of doing anything in NJ?
Silly me.

4 Responses to “Gosh, This Will Sure Help”

  1. Tainted Bill says:

    On the bright side, at least they’re not trying to bail out anyone.

  2. Jim - PRS says:

    Striking about half of New Jersey’s Administrative Code and firing about half of the drones who write regulations and needlessly torment businesses daily would also be a pretty good start.

  3. John says:

    There is a lower cost to doing one thing in NJ.
    Leaving it. 😀

  4. Gary from Jersey says:

    Yeah, that’s great: let board members chat by e-mail. Now, how does that cure the People’s Republic of innovative like taxing rain and making companies pay to house people they don’t know, much less hire?

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