366
this post was submitted on 07 Jun 2024
366 points (98.4% liked)
politics
19097 readers
2952 users here now
Welcome to the discussion of US Politics!
Rules:
- Post only links to articles, Title must fairly describe link contents. If your title differs from the site’s, it should only be to add context or be more descriptive. Do not post entire articles in the body or in the comments.
Links must be to the original source, not an aggregator like Google Amp, MSN, or Yahoo.
Example:
- Articles must be relevant to politics. Links must be to quality and original content. Articles should be worth reading. Clickbait, stub articles, and rehosted or stolen content are not allowed. Check your source for Reliability and Bias here.
- Be civil, No violations of TOS. It’s OK to say the subject of an article is behaving like a (pejorative, pejorative). It’s NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.
- No memes, trolling, or low-effort comments. Reposts, misinformation, off-topic, trolling, or offensive. Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.
- Vote based on comment quality, not agreement. This community aims to foster discussion; please reward people for putting effort into articulating their viewpoint, even if you disagree with it.
- No hate speech, slurs, celebrating death, advocating violence, or abusive language. This will result in a ban. Usernames containing racist, or inappropriate slurs will be banned without warning
We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.
All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.
That's all the rules!
Civic Links
• Congressional Awards Program
• Library of Congress Legislative Resources
• U.S. House of Representatives
Partnered Communities:
• News
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Common misconception. Fiduciary Duty means the Board of Directors has to act in a company's best interest. It does not mean they legally have to maximize every single profit possibility, short and long-term. Some people feel that improving a company's reputation or outreach is in its best interest, even if it doesn't increase profits.
It's also important to know that no one has ever been found guilty of failing to fulfill fiduciary duty, and it's pretty vague. Companies can still do what they want, don't let them tell you their hands were tied and they had to do [awful, greedy thing that everyone hates]...
For as big a deal as is made of this by investment advisors and similar roles, this is shocking to read.
That must be hyperbole, right?
Like... The Enron guys at least, right?
Madoff was straight up ponzi scheme fraud, not profit maximisation.
Enron guys were fraudulently booking future possible revenues as certainties.
Deliberate illegal misrepresentation is very different from making a (possibly) sub optimal business decision.
A quick search suggests Enron and Bernie Madoff are a couple of examples of conviction, but maybe there are nuances I'm not familiar with.
Those... are examples of straight-up fraud. Of course that's illegal.
Tim Cook even famously responded to a right-wing troll during a shareholder meeting asking Apple to commit to only doing profitable things and dropping stuff like making their production climate neutral with "When we work on making our devices accessible by the blind, I don't consider the bloody ROI.” “If you want me to do things only for ROI reasons, you should get out of this stock.” and somehow he's still around
edit: it really pissed them off too haha https://nationalcenter.org/ncppr/2014/02/28/tim-cook-to-apple-investors-drop-dead/
Wow those people are scum bags. They call it "so called climate change"
I dislike Apple, but respect for that. 👊