this post was submitted on 18 Jan 2025
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Support Community for Amputees
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This is not true and people need to stop perpetuating it. They have a fiduciary duty to the shareholders. If they don't increase profits, the board of directors might replace the CEO. But there's NO LAW forcing this. If there was, there wouldn't be the popular (among Apple nerds) Tim Cook quote to "get out of the stock" over how environmentalism affects ROI.
https://alearningaday.blog/2016/03/12/tim-cook-on-roi
Please stop mixing untruths with facts about the shittiness of our healthcare system.
I read up on this and you are correct. I thought shareholder primacy was enshrined in corporate law but it isn't.
I stand corrected. Thanks!
CEO at my last company told the board he intended to go in the red in order to build up our staff and products. They applauded him.
Why isn't he in JAIL?!
What was funny was that COVID boosted demand for our new remote product that customers weren't signing up for. LOL, we made a profit trying to lose money.