Global Aircraft Solutions (fka GACFQ)

[jurisper]

I guess the need for an admin hearing is a big bottleneck - lots of overhead involved.

Obviously it should be the other way around - eg if you fail to file for however many quarters, a computer automatically sends you a revocation notice; you can request a hearing if you want within 21 days or whatever, but if you don't then your stock goes phhht, automatically.

But you just know that anything like that would draw howls from the wide range of people - not all self-interested - concerned about rate of company formation and believing it is crucial for economic development.

This belief in rate of company formation is very widespread and embedded amongst those who are vocal on development issues - without real regard for all the evidence supporting the commonsense intuition that it's the rate of *good* company formation that matters, or for the very large proportion of scams amongst new companies in many regions.

(You also saw this kind of crude regard for company formation rates being expressed in the recent microcap fraud roundtable session.)

As an example: The Milken Institute publishes an interesting annual set of indices ranking US states on various innovation measures: http://www.milkeninstitute.org/publications/publications.taf?cat=ResRep&function=detail&ID=38801259

Nevada ranks a lowly 43 on the combined index and down around there on most of the many sub-indices. But one of the sub-indices is rate of business formation per 100,000 population - included because people in this kind of area always look at it as one of the key stats. And for this, Nevada is at 19th place - no doubt bolstered by the large number of scams which are starting up there all the time.

Most of the sub-indices correlate strongly with state median household incomes. More innovation stuff tends to mean richer people (and/or vice evrsa, of course). The business formation sub-index doesn't correlate with MHI at all. It's meaningless, because it includes lots & lots of scams.