New Voice of Business is working on AB2944, the California Business Leadership and Innovation Statute, with an organization called “B Lab,” in the effort to add California to the list of 31 states that currently have “constituency statutes” like AB2944 on their books.

These statutes give companies, executives and directors the option to include the interests of various stakeholders, in addition to shareholders, in their decision making process. There is nothing mandatory about this, companies may continue to only consider shareholders’ short term interests if they choose to. It simply gives companies the option to look more broadly without fear of shareholder retribution.

Something like this was introduced in the California Assembly in 2004 but did not go anywhere. This is a new time and completely different players are involved. And this time New Voice of Business is helping to lead a campaign to mobilize businesses, business organizations and business people to demonstrate strong business support for this. We are also working to gain the support of the California Chamber along with many other business organizations.

The first hurdle is coming up on April 29th when AB2944 will first be heard by the Assembly Judiciary Committee – and we’d like you to let them know that the business community and public support this.

What you can do right now:
Go to the New Voice of Business website  and download prepared letters of support that have already been addressed to each committee member.

Add your name, business (if applicable), and signature to each letter.

Fax your letter to each Representative (numbers are already on the letters) and to New Voice of Business.

Forward this email to a friend (5 would be terrific) to let them know about this important legislation.

A month from the Judiciary Committee hearing, it goes to the full Assembly and then to the Senate. It will likely go through the end of September before it gets through all the hoops.

We are asking all of our business friends to join the campaign to make California the 32nd state to adopt the constituency statute. This has all the key elements of successful effort:
It will cost you nothing to support this
It will take just a few minutes of your time
It will positively impact California and California business
This is winnable

It clearly demonstrates even further (as we did with AB32 and the Million Solar Roofs campaign) that there are new voices of business in America and California who are saying that the times are changing and that the time for business-as-usual is over.

Sincerely,

Elliot Hoffman
Co-Founder and CEO