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[-] grue@lemmy.world 7 points 1 year ago

It's the cargo-cult interpretation of Dodge v. Ford Motor Co.

[-] intensely_human@lemm.ee 1 points 1 year ago
[-] grue@lemmy.world 1 points 1 year ago

The ruling of that Supreme Court case was that publicly-traded companies are obligated to act in the interests of their shareholders, rather than employees or customers. Cargo cultist MBA-types -- those who have superficial knowledge, but lack actual understanding -- think that means companies must be purely sociopathic and slavishly work to increase quarter-to-quarter stock returns at all costs, but that's not actually true because management is still allowed to take things like long-term stability and customer goodwill into account.

this post was submitted on 27 Oct 2023
316 points (92.5% liked)

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