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Your responsibility to your shareholders is not to maintain the highest profits/employee - it's to deliver the highest total profit per share. Management is le
by neilc 16y ago
Your responsibility to your shareholders is not to maintain the highest profits/employee - it's to deliver the highest total profit per share.
Management is legally obligated to act in the long-term best interests of the company; that is NOT the same as "deliver the highest total profit per share." For more, see:
http://en.wikipedia.org/wiki/Business_judgment_rule http://en.wikipedia.org/wiki/Business_judgment_rule
http://crookedtimber.org/2008/07/25/what-obligation-maximise-what/ http://crookedtimber.org/2008/07/25/what-obligation-maximise...