View Poll Results: Should the duty by re-examined?

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    14 26.42%
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Thread: The Duty of Corporations

  1. #21
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    Re: The Duty of Corporations

    Quote Originally Posted by Kandahar View Post
    I've never understood people who think that a corporation's duty is to produce a profit for its shareholders, period. Sure, that's the duty of SOME corporations. But really, a corporation's duty is whatever it's management decides its duty is. If you don't like it, don't invest in it.

    I think of it like this: If I started my own business, and wanted to give half of my profits to charity, no one would tell me I'm wrong for doing so. If I started a partnership with four other people and we agreed to majority rule, and a majority agreed to give half of our profits to charity, we're still fine because we all agreed to abide by the majority's decision. If I started a corporation where the shareholders elected a Board of Directors that agreed to give half of our profits to charity, I think the same logic applies. Obviously a lot of the shareholders would want the corporations to take on that responsibility (or else they would've elected a different board), and the ones who don't agree are under no obligation to continue to invest in the company.
    Right! It's the decision of management, not the government.
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    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: The Duty of Corporations

    Quote Originally Posted by apdst View Post
    No, it does not. Forcing corporations, by law, to fulfill some imaginary responsibility to society is called Socialism.
    Double thanks. Of course it is!
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: The Duty of Corporations

    Quote Originally Posted by apdst View Post
    No, it does not. Forcing corporations, by law, to fulfill some imaginary responsibility to society is called Socialism.
    Did you just invoke that right wing boogeyman because it is Halloween season and you wanted frighten all of us half to death?
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    Re: The Duty of Corporations

    Quote Originally Posted by haymarket View Post
    Did you just invoke that right wing boogeyman because it is Halloween season and you wanted frighten all of us half to death?
    You already did that when you posted this:

    Quote Originally Posted by haymarket View Post
    from Khrazy in the OP

    100% absolutely positively without a doubt.

    As long as the only imperative for a corporation is to make money, there will always be societal problems and fall out. We need new rules for new times and a new paradigm that takes in much more than simple greed fo a corporation or its stockholders.
    I almost sent milk through my nose.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    Re: The Duty of Corporations

    Ford was thinking long term while shareholders were thinking short term. Haven't we just witnesses the detrimental effect of short run profit seeking at long run expense.

    How many times have big corporation, including auto companies, been bailed out due to the philosophy of maximizing short term profits at the expense of long-run viability? Then who gets foot with the bill? The taxpayer, but I don't any of these corporate apologists defending the taxpayer when this happens due to the corporation's myopic responsibility to the shareholder in the short run.

  6. #26
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    Re: The Duty of Corporations

    Quote Originally Posted by Kandahar View Post
    Then the shareholders can elect a Board of Directors that fires the CEO and replaces him with someone more to their liking. Or they can simply sell their shares to other people who have less of a problem with the CEO's agenda.
    That's how the system works now. I have no problem with this. The CEO is beholden to the shareholders. If he goes against their wishes, he will be replaced.
    "Doubleplusungood"

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    Re: The Duty of Corporations

    Quote Originally Posted by apdst View Post
    Right! It's the decision of management, not the government.
    I may be splitting hairs.......the Board of Directors work for the shareholders, management works for the BOD.....shareholders set the direction and the goals and they rely on the BOD to carry out the plan.
    I love the smell of burning moonbat in the morning.

  8. #28
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    Re: The Duty of Corporations

    Quote Originally Posted by MaggieD View Post
    You already did that when you posted this:



    I almost sent milk through my nose.
    that made me laugh.

    what did I say in that post that was wrong?

    As long as the only imperative for a corporation is to make money, there will always be societal problems and fall out. We need new rules for new times and a new paradigm that takes in much more than simple greed fo a corporation or its stockholders.
    __________________________________________________ _
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  9. #29
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    Re: The Duty of Corporations

    Quote Originally Posted by apdst View Post
    No, it does not. Forcing corporations, by law, to fulfill some imaginary responsibility to society is called Socialism.
    Socialism, as I understand it, is a system where the state owns all resources and attempts to distribute them according to its own determination of what would be most socially beneficial.

    I don't believe that our sole choice is between the current system and socialism. That is far too simplistic, and it is a shame that debate is so often articulated as an extreme black or white choice.

    It's also a shame when people constantly resort to strawman arguments. For instance, there is nothing in the OP that advocates "forcing" corporations to do anything. If anything, currently they are forced to act in certain ways out of deference to shareholders.
    Last edited by Cameron; 10-10-11 at 04:24 PM.
    (avatar by Thomas Nast)

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    Re: The Duty of Corporations

    Quote Originally Posted by DrunkenAsparagus View Post
    That's how the system works now. I have no problem with this. The CEO is beholden to the shareholders. If he goes against their wishes, he will be replaced.
    I lol'd. Who is going to replace him? His incestuous BOD?

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