The last sentence of the article however, shows why that’s not much of a consolation:
In other words, it is activist hedge funds and modern executive compensation practices — not corporate law — that drive so many of today’s public companies to myopically focus on short-term earnings; cut back on investment and innovation; mistreat their employees, customers and communities; and indulge in reckless, irresponsible and environmentally destructive behaviors.
can literally be sued if they don’t put profits above all else. it’s insane.
edit: fact check says, misleading, see source below
That’s not quite true: https://www.nytimes.com/roomfordebate/2015/04/16/what-are-corporations-obligations-to-shareholders/corporations-dont-have-to-maximize-profits
Thanks for the clarification.
The last sentence of the article however, shows why that’s not much of a consolation: