Well, that’s, ummm, kinda creepy.

The United States Needs Corporate ‘Loyalty Oaths’ – Daily Beast

On top of all the wars and global messiness, 2014 will be remembered for the plague of “corporate inversion,” which the news media should start routinely calling “corporate desertion.” So far, 47 American-based companies have renounced U.S. citizenship and bought foreign subsidiaries in order to dodge American taxes. Many more are preparing to flee. […]

Because oaths and pledges are a little creepy, this effort needs something else—something that comes out of the legal and business worlds: a contract. More specifically, an NDA.

Non-disclosure agreements are common in corporate America, where tens of thousands of senior managers and employees sign contracts promising to keep all sorts of information confidential. It’s often a condition of employment.

Now it’s time to change the “D” and expect the same from boards of directors—a “non-desertion agreement” with the John Hancock of every board member and CEO in the United States.

If boards thought for even a second about the long-term interests of their companies, they would summon their lawyers and sign. It’s protection against the risks of resurgent nationalism that could strip them of the many advantages (indirect government subsidies, easy access to American markets) that they currently enjoy.

Companies that fail to sign non-desertion agreements would face the kind of public shaming that has gone out of fashion but could come back with a vengeance: boycotts, petitions, angry shareholder meetings full of the language of patriotism.

0 Shares