5 ms·
if you lead a company, and dont do whats in the best interest of your shareholders, youre getting sued and then you go to prison. unless you get the law change
by wayn3 9y ago
if you lead a company, and dont do whats in the best interest of your shareholders, youre getting sued and then you go to prison.
unless you get the law changed, companies absolutely have to put their financial gains first.
- kaffee 9y agoIsn't the bar for criminal liability fairly high? Doesn't a CEO usually get fired and/or fined? I'd be interested in learning about an case where a CEO goes to prison because he didn't pursue shareholders' interests aggressively enough.
- odonnellryan 9y agoNever has happened. You can be socially responsible even if it means "making less than absolutely possible." It's idiotic to think that any C-level has to always be doing what will absolutely maximize profits. It's impossible for them to be doing that constantly, all the time.
- kwhitefoot 9y agoThis is a misreading of the law. And plainly not the way that a lot of large companies behave. See http://www.corporatepolicy.org/2012/03/25/are-corporations-required-to-maximize-profits/ http://www.corporatepolicy.org/2012/03/25/are-corporations-r... for instance.
- namlem 9y agoYou absolutely will not go to prison. You probably wouldn't even get sued. You'd just be fired.