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Letter: First corporate law: do business

Editor, Gazette-Journal:

It is curious that the editor of this page chose to quote former President Bill Clinton in making a case for inequity regarding the "Wall Street" protesters in various civic centers around the country. If you read their Oct. 20 editorial ("A growing sense of inequity"), you learned that Clinton believes that a corporation, which undeniably is a business, has erred in its allegiance only to its shareholders. Clinton thinks that the company should be paying more attention to what he calls the stakeholders and here it’s rather clear that he means employees and the community.

Okay, let’s start with the basics. The corporation exists to provide a service or product to a customer or client. If a customer doesn’t make a purchase or sign a service agreement, nothing else proceeds. No one is hired, raw materials aren’t purchased, factories are not built, paychecks don’t wander through communities from store to stor...

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