this post was submitted on 09 Dec 2024
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"Have a duty to shareholders to maximize profits" musk is scurd. (slrpnk.net)
submitted 1 week ago by ByteOnBikes@slrpnk.net to c/whitepeopletwitter@sh.itjust.works
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[โ€“] Auli@lemmy.ca 9 points 1 week ago (1 children)

And this is a lie. There is no law about this there is no duty for it. I mean your company is tock might not be the greatest but that is another thing.

[โ€“] HandwovenConsensus@lemm.ee 2 points 1 week ago

Unfortunately, that's not true. Dodge vs Ford Motor Co established the precedent of shareholder primacy when Henry Ford was successfully sued for attempting to reduce dividends in favor of reinvesting profits.