Gubernatorial candidates seek corporate code changes

AUGUSTA – The Green party’s candidate for governor Wednesday called for a change in the state’s corporate code to protect human rights, the environment and other key concerns.

Jonathan Carter, acting in the wake of scandals involving Enron, WorldCom and other corporate giants, challenged his four gubernatorial rivals to endorse his proposal.

“I’m trying to bring the issue of corporate power to center stage in the gubernatorial race,” Carter told a news conference at the State House. He said he is the candidate best suited to “rein in” corporations because he’s the only one receiving public financing.

Maine law says corporations must act in the best interests of shareholders.

Carter said that if elected, he would seek to add that corporations may not maximize profits at the expense of the environment, human rights, public health or safety, dignity of their workers, livable wages or the community’s well-being.

Democratic Blaine House candidate John Baldacci, who is completing his fourth congressional term, said changes in corporate policy should be made at both the federal and state levels.

“The economy is national and international,” he said.

Baldacci and fellow Democratic Rep. Tom Allen of Maine have endorsed legislation to establish an independent public auditing regulatory board, increase penalties for securities and wire fraud, bolster the Securities and Exchange Commission to improve enforcement and remove conflicts of interests between auditing and consulting.

Independent candidate David Flanagan, a former top executive for Central Maine Power, said corporations should review their codes of ethics and consider stricter policies to help restore public confidence.

Flanagan said bookkeeping policies should be strengthened to prevent financial wrongdoing, financial reporting should be more easily understood by the public and companies should retain internal as well as outside auditors.

Independent candidate John Michael and Republican Peter Cianchette did not immediately return phone messages.