From: Todd Weiler To: Sen. Weiler, T., Subject: Re: Thank you for your support of S.B. 133 Benefit Corporations Date: 2014-02-07T14:19:23Z Body:
My pleasure!
Todd Weiler
801-599-9823
> On Feb 7, 2014, at 7:03 AM, "Steve Klass" wrote:
>
> February 7, 2014
>
> Dear Senator Weiler,
>
> Thanks again for your understanding and support of benefit corporation
policy for Utah!
>
> As business leaders in the great state of Utah, we are writing to express
our support for benefit corporation legislationS.B. 133, chief sponsor
Senator John Valentine and co-sponsor Senator Pat Jones, to ask you to
support it as well. The legislation will create a new corporate entity, the
benefit corporation. A benefit corporation is a new corporate entity
offering entrepreneurs and investors the option to build and invest in
businesses that meet higher standards of corporate purpose, accountability,
and transparency.
>
> In a traditional corporation, fiduciary duty focuses exclusively on
increasing shareholder profits. In the case of benefit corporations,
fiduciary duty is redefined through a statement that the creation of public
benefit is in the best interests of the benefit corporation. This allows
corporate officers to define other goals beyond profit making and, in turn,
gives investors the power to require those officers to make decisions that
reflect those goals, even when they lower profitability.
>
> We believe that benefit corporation legislation is a cost free tool that
will support economic development, while it opens up the free market and
deregulates corporate purpose, as well as brings considerable improvements
to the state of Utah. Benefit corporation legislation supports
entrepreneurship and fosters greater impact investment in our local
companies and communities and encourages companies to incorporate in our
state. States that welcome these new businesses will be poised for growth.
>
> Please support the creation of benefit corporations in Utah by supporting
S.B. 133.
>
> Sincerely, the following businesses, organizations and entrepreneurs:
>
> Adjacent Consulting, organization development
> ASG Advisors, social impact consulting
> Be Locally SEO, web design
> Cole Holland College, health professional training
> Cotopaxi, recreation equipment retailing
> DwellTek, solar installation
> Goal Zero, solar generators
> Impact Hub Salt Lake, social enterprise center
> Kenner Kingston, commercial architect
> Klass Strategies, management consulting
> Lotus Community Development Consulting Services
> Momentum Recycling
> Responsible Asset Management, investment brokerage
> Sorenson Global Impact Fund
> Spa Secrets 4 You, cosmetics manufacturing
> Sustainable StartUps
> Sustain3, employee engagement services
> Third Sun Productions, web design
> Treasure Mountain Inn
> Underfoot Floors, flooring materials
> Valley Services, staffing services
> Xmission, Internet services
> Richard Young, Environmental Engineer
>