Is it time for a class-action lawsuit by American stockholders? https://www.cnbc.com/amp/2019/08/19/the-ceos-of-nearly-two-hundred-companies-say-shareholder-value-is-no-longer-their-main-objective.html … (Or maybe technically by global investors in American equities).
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isn't this a postive thing?
I second the question. Michael, I’d love to hear more of your thoughts on this.
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Or suppose you invest your life savings in a startup whose corporate charter says "we will do our best to maximize financial return, legally". Then they declare that instead of dividends, they will distribute all profits to employees. Your life savings go poof. Same idea.
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Not MY savings! It’s only OK if they do it to other people’s savings! :P Is your argument that it’s a violation of contract/promise and therefore ipso facto bad? Or because it’s a slippery slope from “we aren’t optimizing for shareholder value” to full-on scams? Or...?
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Suppose I sell a share of my future salary to fund college, promising I'll maximize income for 20yrs. I choose an investor rep to monitor my career decisions, as required by the federal regulator. Most savings are invested in such agreements. Then I say "income is evil!"
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@matt_levine had a pretty good take on the change I thoughthttps://www.bloomberg.com/opinion/articles/2019-08-19/maximize-shareholder-value-top-ceos-might-be-opting-out …Thanks. Twitter will use this to make your timeline better. UndoUndo
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