Governor Delaware Matt Meyer, a democrat who took office in January, agreed to meet with Inquirer after the first month to talk about state finances, work and pressure on the corporate -friendly court corporation. Here is the most essential information, edited for clarity:
You were the Director of the Estate County, where most of the Delaware residents live. Has it prepared you to be a governor?
The smaller the yard, the larger the dog. I am four weeks elderly. We are in problems with port to a corporate franchise in the face of a challenge in relations with the federal government and an attempt to build a budget.
When you were the director of the countess, Delaware gave Amazon $ 6 million in advance to build the largest magazine in the history of the magazine, he promised $ 22 million for Chinese WUXI APPTEC for his MidDLETOWN plant and prepared himself $ 30 million for Merck Expand in Wilmington. Can you allow you to pay for profitable companies in order to introduce jobs?
. Delaware Prosperity Partnership It is a very essential marketing arm of the state. Has huge support of the private sector. It is unheard of in the history of Delaware that you have partners from the private sector [along with government funds] Delaware in the future.
I am a former teacher [and corporate lawyer]. I was not ashamed to speak, and research shows that significant subsidies and tax breaks for companies outside the state are not necessarily in the best interest of taxpayers.
I am in favor of marketing things that are best in Delaware and repair of permits, so it goes very quickly and efficiently and for providing companies with the possibility of expansion.
But to continue to apply it as a mechanism to distribute dollars of taxpayers, since we need resources to our paths, schools, police, inexpensive apartments? We must be very careful about how we apply state money for business activities.
We are home to Dupont and Incyte and one of the best companies in the world. We will make strategic investments in industries in which Delaware wins – and will continue to win – in biochemistry, financial technologies, agriculture, logistics technologies, where we can attract the best and brightest.
Delaware is a place where most American companies are legally based. But Elon Musk from Tesla and others Corporate founders He moved a legal business with Delaware After the state rulings of the Chancellery Court, money cost them. On February 17, former judge of the office William Chandler, now Wilson Sonsini Silicon ChancelleryIt helped you convince you to return proposed law This would make it challenging to sue the founders. Does Delaware fall into corporate pressure?
Delaware has been a place where leading corporations live their corporate house for over a century. We were a stable, stable, incorrect arbiter of corporate disputes. For business, it is very essential that there is a stable, stable basis for law, so when there is a dispute between shareholders and management, there is clarity, consistency, predictable and honesty.
[Corporate fees] They are over a third of our state budget. If you take it and [program cuts] In Washington and the fact that we must get a budget adopted until June 30, it is really challenging. We need to make sure that we keep and develop this corporate franchise.
Last year, in the media, this franchise was attacked. On the first day of office, we began to meet leaders in the corporate bar and in the whole country who make key decisions regarding where the companies turn on. And with the leadership of C-Suite and people on boards that are concerned about leaving Delaware.
Business founder, Phil Shaw, outraged by the way his company was settled in Chancery Court, spent $ 1.25 million, helping you choose. Did he support to write a new law, which makes it challenging to sue?
I didn’t talk to Shawe. I usually talked to many corporate lawyers. You know, I was a summer colleague in Wilson Sonsini [and a mergers lawyer at Simpson Thatcher & Bartlett, and a poverty lawyer at Community Legal Aid].
One company talked about the establishment of a training group to decide where to turn on. It’s an alarm for us. They never had to do this.
So we said Let This corporate franchise. Let Make sure everyone knows that we are grave about clarity, predictability and honesty.
First problem [with prior Delaware law] Is a Shareholder Shareholder problem. The founders of technology and private equity want to fully apply their status controlling shareholders.
Is also larger group: Large companies that are concerned that things become more hostile to them. The way Delaware will not draw judges [a single Chancery judge gets all cases involving a single company]. Federal courts, other states, randomize.
What I heard, I felt a bit when I was a sixth grade mathematics teacher, and the student would not go for a break because they knew they would have trouble because he didn’t like them. Some of these companies complain about a specific judge, they don’t like them.
Does Delaware lose a corporate company?
We now have 2.2 million corporate entities; This is more than twice as much as the number of people living in this state. We received 81% of companies that had IPO last year. Things are not terrible.
Did you support to write a proposal of corporate law reform?
I was not involved in the production of sausage. Delaware boasts effective maintenance between the shareholder’s rightsS and the law of the Council and Management. It’s challenging. It’s easier to say than to do. This is an attempt to solve this balance.
Before you were the governor, Delaware tried to stop the plan to deepen the river because he would support his rivals in Philadelphia and Camden. Now the referee has blocked the worsening of the port of Wilmington because Delaware did not consult Philly. And yours The party is divided over the plans Fine the port. Is it time for a unified, regional group of ports?
We have a duty A state with a port to create and develop good trade union employment opportunities. We have the potential to be a leading global port. But we have to watch every dollar.
You have inherited the plan of the assumption The cost of the hospital againstL Board. Christiana, the dominant hospital of the State, is fighting this plan. Your wife, Lauren Cooksey Meyer, He is the head of emergency medicine there. Did you talk to her about her and are you going forward despite Christiana’s resistance?
We must move as a state towards value -based care models and encourage society to apply basic healthcare. Sometimes her staff stand up to 100 people on the emergency room. Half did not have to be there if we had a functional healthcare system. This is what we are moving.
We want to work with hospitals if they are ready. If not, there will be a fight.
