The thing I really don't understand is the persistent meme that companies have some obligation to their shareholders above and beyond their obligation to their

The thing I really don't understand is the persistent meme that companies have some obligation to their shareholders above and beyond their obligation to their employees What you call "meme", most people call "law". Directors and Officers of a corporation have a fiduciary duty to shareholders by law. They do not have a fiduciary duty to employees of the corporation.