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View Diary: What's the next book title Corporate America will sneak into kids' libraries? (26 comments)

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  •  This diseased idea (4+ / 0-)

    that corporations should exist solely to serve themselves profits needs to DIE.

    •  If they served their employees (3+ / 0-)

      that would be a start. Even that pig Henry Ford knew how important that was.

    •  Excellent point (4+ / 0-)
      “It is literally – literally – malfeasance for a corporation not to do everything it legally can to maximize its profits. That’s a corporation’s duty to its shareholders.”
      Since this sentiment is so familiar, it may come as a surprise that it is factually incorrect: In reality, there is nothing in any U.S. statute, federal or state, that requires corporations to maximize their profits.
      http://www.salon.com/...

      “Texas is a so-called red state, but you’ve got 10 million Democrats here in Texas. And …, there are a whole lot of people here in Texas who need us, and who need us to fight for them.” President Obama

      by Catte Nappe on Thu Aug 07, 2014 at 05:33:42 PM PDT

      [ Parent ]

      •  Yes, (1+ / 0-)
        Recommended by:
        bakeneko

        that quote is quite an exaggeration. I do agree that corporations have a major responsibility to their shareholders, as the shareholders have often staked their savings and retirement based on their trust of the company's management.

        That said, a corporation's responsibility to shareholders should be inextricable from its responsibility to the employees and society in which it thrives.

        •  There's also the long term vs short term (3+ / 0-)
          Recommended by:
          maxfolger, bakeneko, unfangus

          For both the shareholders and the society, there are decisions that maximize the immediate profit to the detriment of the long term health for all stakeholders.

          “Texas is a so-called red state, but you’ve got 10 million Democrats here in Texas. And …, there are a whole lot of people here in Texas who need us, and who need us to fight for them.” President Obama

          by Catte Nappe on Thu Aug 07, 2014 at 06:28:18 PM PDT

          [ Parent ]

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