4 ms·
“fiduciary duty to their share holders to make as much money as possible” No they don’t. That’s an oft repeated myth. The have a responsibility to manage in the
by imwillofficial 5y ago
“fiduciary duty to their share holders to make as much money as possible”
No they don’t. That’s an oft repeated myth. The have a responsibility to manage in the best interests of the business.
That’s pretty vague.
On purpose.
- Forgeties79 5y agoIn my experience it's just a repeated line to excuse companies for not thinking longterm or about anyone/anything beyond immediate revenue. It's very silly and not what the term means at all, yet as you pointed out, we see it all the time.
- JAlexoid 5y agoThere's a "however". Actions that reduce the shareholder value without any long term prospects is something that will drive down investment and could trigger lawsuits
- imwillofficial 5y agoA lawsuit does not indicate a breach of law or anything really.
- Forgeties79 5y ago>without any long term prospects Of course. Because by definition you’ve sacrificed the short term and the long term for nothing. But I don’t think anyone here would debate that so I’m not entirely sure what you’re getting at.