Where government fails, the market steps in

stockmarket.gifIt seems that investors are planning to use the power of the market to influence the production of plastics and the problems that go with it. The Milwaukee Journal-Sentinel is reporting that there have been a remarkable number of shareholder resolutions filed for publicly held companies for their use of potentially toxic chemicals. Seven have been filed for 2008 already.

Bart Mongoven, who knows about these things, says "The use of shareholder resolutions is, I think, the most effective way of making this an issue for the executives of the corporation." He's VP for public policy intelligence at a national consulting firm. I imagine (with my limited understanding of how these things work) that he's right, but I can't help but think: Shouldn't the government be making this an issue for company execs?

The federal government has been slow to put safeguards in place to ensure that chemicals used to make the products we use in our homes every day are, in fact, safe -- so now shareholders will force the issue for them. This is not a "Cheers and Jeers" column, but if it was. . . I think you know where my votes would go.

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