A proposed Colorado ballot measure would make CEOs bear personal criminal responsibility if their companies run afoul of the law. The proposal, spawned by Joe Nacchio’s conviction for Qwest insider trading, would also, like the federal Clean Air Act, permit any Colorado resident to file a civil suit against a CEO in such circumstances.
Somehow, I have the feeling that:
• State and national Democrats will skirt a berth around this at least as wide as a lobbyist’s armspan;
• Fortune 500-type companies will vilify Colorado as the “anti-Delaware” if this passes;
• Other progressive states will put an eyeball on this.
Could California, with some of the most liberal state laws on ballot initiatives, follow suit?
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