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The disconnect appeared when companies stopped being driven by shareholders and become driven by Wall Street bean counters. I work for a very large company that
by AdrianB1 7y ago
The disconnect appeared when companies stopped being driven by shareholders and become driven by Wall Street bean counters. I work for a very large company that lost the CEO because the Wall Street was not happy the guy did not fire enough people to meet their predictions; the next CEO fired the employees and contracted double the number as external suppliers, it was bad for the company and very bad for shareholders, but Wall Street was happy and the guy is still a CEO.
And Wall Street does not care about sensible or ethical things, so the companies are not allowed to. Not anymore.