Independent Agencies & Government Corporations

The Securities and Exchange Commission ensures that Pear Products acts ethically towards investors as it requires companies that sell stocks to file appropriate paperwork about their company. In addition, the commission will protect Pear Products’ consumers from any fraudulent activities through legal means. 107–296 effective 60 days after Nov. 25, 2002, see section 4 of Pub.

Galbraith calls for “the educational and scientific estate” – the intellectuals, the universities, etc. – to act so that the needs and goals of the industrial system do not swamp everything else. Government-owned corporations provide commercial business on behalf of the government. The Pear Products’ team depends upon Amtrak, a national train service, to commute to work in New York City daily. Businesses also have defined relationships with government corporations, which usually exist in a natural monopoly situation or due to the country’s infrastructure.

Although it has been the purpose of this report to emphasize the distinctive characteristics of federal government corporations, it is important to conclude with a statement of their shared characteristics with other federal agencies. The mission of both regular, appropriations-financed agencies and of government corporations is the same, to implement the laws passed by Congress. Experience indicates that the corporate form of organization is peculiarly adapted to the administration of government programs which are predominately of a commercial character—those which are revenue producing, are at least potentially self-sustaining and involve a large number of business-type transactions with the public.

Enrichment Corporation, though, have been designed to serve as transition vehicles to transform from governmental entities into private firms. The District Court for the District of Columbia has explained that “n order for an agency to be liable for a Privacy Act violation allegedly committed by one of its employees, the responsible agency employee must have been acting within the scope of his or her employment.” Convertino v. DOJ, 769 F. “any Executive department, military department, Government corporation, Government controlled corporation, or other establishment in the executive branch of the Government , or any independent regulatory agency.” 5 U.S.C. § 552a (incorporating 5 U.S.C. § 552 , which in turn incorporates 5 U.S.C. § 551 ). Strikingly, these issues of managerial control have first emerged in Eastern Europe. The question there is less what to privatize than how to privatize.

It is one arrow in government’s quiver, but it is simply the wrong starting point for a wider discussion of the role of government. Ownership of a good or service, whether it is public or private, is far less important than the dynamics of the market or institution that produces it. The GAO Glossary includes entries related to government corporations,one related to “mixed-ownership” and the other “wholly-owned” government corporations.

Local government councils and similar authorities also set up locally controlled enterprises, such as water-supply companies and “local-authority trading enterprises” as separate corporations or as business units of the councils concerned. In the 1946 case of Cherry Cotton Mills v. United States (327 U.S. 536), the Supreme Court held that government corporations are agencies of the United States. “That the Congress chose to call it a corporation does not alter its character so as to make it something other than what it actually is, an agency selected by the Government to accomplish purely governmental purposes.”

The USEC transition process highlighted, however, one of the perennial problems in privatization efforts. Congress may intend a corporation to be private, but it also may want the corporation to continue to be involved in public policy implementation. In this instance, Congress wanted the corporation to participate in implementing a foreign policy objective, which was to purchase at above market rates a substantial amount of Russian enriched uranium otherwise destined for Russian weapons. Under the HEU agreement, the USEC received enriched uranium from Russian nuclear weapons and, in addition to its payment for the material, returned an equivalent amount of natural uranium to Russia to sell on the world market.

Government corporations are companies that exist in the private sector, but are owned by government, such as Sallie Mae. In subsection , before clause , the words “the district in which the surety bond is given” are substituted for “such district”, and the words “a civil action against the corporation” are substituted for “such suit”, for clarity and consistency. The words “with like effect as upon an agent appointed by the company” are omitted as unnecessary. The words “official serving” are substituted for “officer executing such” for consistency. Clause is substituted for “state such fact in his return” for clarity.

This definition holds only for “the purpose of this title,” i.e., Title 5 of the U.S. As a general proposition, the attorney general is vested with central control over the litigation to which the U.S. government is a party. In addition to the enumeration of corporations in the GCCA, there have been several other listings of corporations available, each different and based upon the definition employed by the compiler. This report will be updated in the event of a significant development.

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