4 ms·
Also known as fiduciary duty.
by yid 15y ago
Also known as fiduciary duty.
- Klinky 15y agoAlso known as morally questionable & gaming the market.
- mirkules 15y agoAlso known as the nature of capitalism.
- JonnieCache 15y agoCapitalism is not a physical law. We have the power to implement it how we choose.
- alexqgb 15y agoBingo. Also, "fiduciary responsibility" can justify absolutely anything, provided your timeframe is short enough. Bouncing paychecks, for instance, will do wonders for a company's cash position - provided your business plans don't extend further than the middle of next week.
- fleitz 15y agoWhy is getting paid to express an opinion morally questionable? When GLAAD's members pay them to express positions in support of gay rights, is that morally questionable? Or is it only morally questionable when they express opinions that you do not like? I suspect the conversation between GLAAD, AT&T, and their membership will go something like this: Members: You're losing $500K per year GLAAD: AT&T can you match this? AT&T: Will $600K suffice? GLAAD: OK.
- rbanffy 15y agoThey are not only paid to express opinions, but to credibly do it. When they throw their credibility out the window by accepting money to express anything, they cease to be effective in supporting gay and lesbian interests.
- Klinky 15y agoWhat GLAAD or other non-profits did technically should be illegal. They are no longer a non-profit activist group, they are an advertising/lobbying agency.
- jballanc 15y agoFuck everything about this attitude. I don't know where it started, but this sort of uber-Rand-ism is just flat out wrong. It is this same sort of short-sightedness with regards to morals vs profits that caused Alan Greenspan to famously state: "Those of us who have looked to the self-interest of lending institutions to protect shareholder's equity – myself especially – are in a state of shocked disbelief." Disbelief my ass! "Fiduciary duty" is not an excuse for corporate raping and pillaging of a society (which, in effect, is what this is). Any student of economics who understands the concept of Pareto efficiency should understand that any action which causes an overall detriment to the economy or the society at large cannot lead to sustainable profits for the company involved. Sure, you can make a lot of short-term gains walking down the street and robbing everyone you see, but it's not a sound formula for long-term profits. Fiduciary duty is no excuse here. What these companies have done is reprehensible on its face and it is a shame that it is not outright illegal! (Consequently, before anyone cries "First Amendment!", I would add that this type of situation is also a good reason why corporations should not enjoy the same status as individuals under the law.)
- rbanffy 15y agoJust be careful with short-term thinking.