Corporate Governance

The DNC and Corporate Governance

By J. Robert Brown

This Blog operates out of Denver, the current location of the Democratic National Convention, which began yesterday.  It is the convention that will, on Thursday, nominate Barak Obama.  We have mentioned Obama a number of times on this Blog, including his endorsement by some former SEC chairmen, his support for "say on pay," and the inclusion of "say on pay" in the Democratic Platform.   Denver is, as a result, overflowing the election talk and Obama paraphanalia.  This is particularly true given that Colorado is a purple state and one of the places targeted by both parties.

For those of us who live in Denver, there is some opportunity to observe the convention in action.  Getting inside requires a pass and getting a pass requires knowing someone.  Some are contributors (or fundraisers) who go through their political connections.  Some are lending out their house to those attending the convention and receive passes as a return favor.  Still others come from places outside of Colorado and know members of the Democratic hierarchy, whether politicians or fundraisers and are bestowed with entry opportunities.  Then there are the rest of us who know someone who knows someone in these three categories and manages to tag along.

Last night, I was able to tag a long with a faculty member from the Law School (Roberto Corrada) who scored two passes as an "Honored Guest" (as opposed to Guest and Special Guest) to the first night of the convention.  It was from the nose bleed vantage point in the capacious Pepsi Center in Denver that we were able to watch a number of speakers, including Michelle Obama (we were still searching for seats when Edward Kennedy spoke).

We can report definitively that Michelle Obama said nothing about corporate governance or say on pay (the theme was something like middle class America).  But she did note that her speech and her husband's would be given during the same week when, 45 years ago, Martin Luther King gave his "I have a dream" speech.  In other words, however one comes out politically, it was an historic occasion and one that, 45 years ago, was only a dream.  It was a honor to be there for the event. 

Full post as published by The Race to the Bottom on August 26, 2008 (boomark / email).