Can we assume that these jerks will be complaining to all those companies that reduce profits by supporting right wing entities, causes or politicians?
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Thatâs not necessarily a requirement for for-profit companies unless a company is putting themselves up for sale or has it written into their articles of incorporation. The act of maximizing profits is assumed as part of the Business Judgement Rule, only because in most cases the shareholders are the parties concerned with maximizing the profit.
Thereâs nothing to stop for-profit companies from looking at options such as B-Corporation Certification as long as the majority of shareholders are amenable.
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If you read the article, the proposal to cut green initiatives got 2.95% shareholder vote.
Long-term viability is a subjective assessment that is only ultimately provable with time. I am not a lawyer, but I think that in the event of a shareholder lawsuit the executives would have to make the case that they are looking long-term. A counter case could be argued against whatever position they were taking. They would need to show some significant due diligence on forgoing profits for the longer term.
And in the end they might not win the case. However, no shareholder will ever sue them for maximizing short-term profits, and if the company fails in longer term then it is probably somebody elseâs problem. .
Dream on. Then again, Vultures hate the company with a passion, as does the normal Wall Street gambler- I mean investment expert. Good thing they have little say.
i did read the article, i just donât believe it will end there. i donât see these guys going âoh, well guess thatâs that, wonât bother with them againâ no they are going to attack and attack and attack anything and everything he does until he is driven from office and someone more in line with their interests is put in place.
[quote=âImmutable_Mike, post:15, topic:24508â]
Youâre absolutely right of course, but weâre all accustomed to CEOs of the Fortune 500 focussing on profitability only until the end of the quarter[/quote]
There, FTFY
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Why do I have a felling that Google or Samsung or Microsoft are behind this whole business. I wish people would compete by making better product instead of trying to sabotage their competition.
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