Comment by rjbwork
2 years ago
Unsurprising, really. They were given cover to increase prices, so they did it. That is their duty as the operators of those corporations to the shareholders.
2 years ago
Unsurprising, really. They were given cover to increase prices, so they did it. That is their duty as the operators of those corporations to the shareholders.
And yet some of them (the c-suite for the egg producers, for example) are being convicted for it. So, there's definitely limits to that "duty".
It's not their duty. There is no legal or moral obligation to shareholders to maximise profits at all costs.
It’s twisted how that “philosophy” from hedge funds using leveraged buyouts to pillage corporate America has now become unquestioned wisdom for many.
A company relies on its customers, workers, owners and the society where it operates but hey let’s ignore all the rest and only maximize the short term benefit to owners by short changing both the workers and customers.
Couldn't agree more. Was playing devil's advocate to spur conversation since I was the first comment on the thread.