" Gillmor sez, "Looks like corporations (i.e. the people who control them) have more rights to privacy in America than regular citizens.
This terrific investigative piece by Reuters (co-reported by one of my colleagues at Arizona State University) exposes yet another dirty secret of corporate America's power over federal and state governments. They don't need to go to the Caymans and other such havens to create nearly impenetrable secrecy. They can do it right here at home by using pathetically weak state laws -- plainly weak by design -- to hide sometimes sleazy doings.
It's yet another example of the way the deck has been stacked by corporate America in its own favor."
A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as "shell" companies, paper entities able to hide assets.
Special Report: A little house of secrets on the Great Plains
Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a "shelf" company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity.
"A corporation is a legal person created by state statute that can be used as a fall guy, a servant, a good friend or a decoy," the company's website boasts. "A person you control... yet cannot be held accountable for its actions. Imagine the possibilities!"
Among the entities registered at 2710 Thomes, Reuters found, is a shelf company sheltering real-estate assets controlled by a jailed former prime minister of Ukraine, according to allegations made by a political rival in a federal court in California.
Evan from Fight for the Future writes, “Ding dong! The Trans-Pacific Partnership (TPP) is dead. Most news articles say the cause of death was simple: the election of Donald Trump. But they’ve only got a tiny part of the story. Now more than ever, it’s critical we share the real story: creative and strategic grassroots […]
Before the deregulation bonanza of the 1980s, corporations were expected to use debt and the public markets as the capital of last resort: they would pay “normal” dividends, then use the left over money to increase pay and fund expansion; but after the birth of “shareholder management,” companies have acted like homeowners before the financial […]
Arbitration was conceived of as a way to allow giant corporations to avoid costly court battles by meeting with a mediator and talking things out: but since the Supreme Court ruled (in a series of mid-1980s cases) that companies could force their customers and employees into arbitration by adding “binding arbitration” clauses to the fine […]
Loot Crate is a totally different kind of subscription service that mails subscribers monthly boxes filled with curated geek, pop culture, and gamer paraphernalia. Its cult following awaits a box every month filled with everything from bobble heads to T-shirts to special edition collectibles. But nothing gets Loot Crate fans as excited as the limited […]
The ARMOR-X Mini Flexible Phone Tripod is a smartphone tripod that is designed with flexible legs to rest on virtually any type of surface. Other tripods have proved useless unless I conveniently have a flat surface in front of me, which is why this particular tripod was appealing enough to try out. The ARMOR-X is compact and easy […]
You don’t need to get an advanced degree and take out massive loans to become a coder. This bundle of 10 courses was designed to teach anyone to code at home for less than it costs to go out for dinner. I was particularly impressed with this new 2017 bundle because it includes courses on […]