Brief Fact Summary. A steel plant closure led to the economic demise of a town.
Synopsis of Rule of Law. A court cannot require a corporation to continue operations when its officers and board of directors has decided to discontinue on the basis of unprofitability.
If that exists, the right to establish the maximum of charge, as one of the means of regulation, is implied.View Full Point of Law
Issue. Can a court order a corporation to continue operations when its officers and board of directors decide to discontinue on the basis of unprofitability?
There is no constitutional provision, federal or state law which would convey authority to this court to require the Defendant to continue operations when its officers and Board of Directors has decided to discontinue on the basis of unprofitability.
There is not a property right to employment.
Courts do not have the power to regulate private property. Formulation of public policy on the great issues involved in plant closings and removals is clearly the responsibility of the legislatures of the states or of the Congress of the United States.
Discussion. Even though an economic fallout would result, the court had no authority to order a corporation to stay open when the corporation decided it was in its best interest to close because there is no property right to employment. The function of the court is to interpret law. They did, however, leave the door open for the legislature to regulate this