I agree, but my understanding of it is that developing and announcing a long term plan for a company like that would cause the stock price to dip in the short term. Apparently that would be something shareholders could sue over, so even if some CEO wanted to do the right thing, they couldn’t. It comes down to the greed of people who don’t know and don’t care about the companies they’re invested in and their impacts on the world. They just want that money to come in every month.
When America had actual regulations on shareholders and things like stock buy backs back in the 50s, 60s, and 70s, shareholders didn’t have this leverage and STILL got obscenely rich. Reagan was the beginning of the hardcore shareholder strip mining of American businesses. We need to reinstate a lot of our previous good ideas.
I agree, but my understanding of it is that developing and announcing a long term plan for a company like that would cause the stock price to dip in the short term. Apparently that would be something shareholders could sue over, so even if some CEO wanted to do the right thing, they couldn’t. It comes down to the greed of people who don’t know and don’t care about the companies they’re invested in and their impacts on the world. They just want that money to come in every month.
When America had actual regulations on shareholders and things like stock buy backs back in the 50s, 60s, and 70s, shareholders didn’t have this leverage and STILL got obscenely rich. Reagan was the beginning of the hardcore shareholder strip mining of American businesses. We need to reinstate a lot of our previous good ideas.