Re:Apple’s profit is always the priority–no matter the cost
by pc86 on Wednesday February 09, 2022 @03:29PM
(#30278061)
The "illegal" thing they're referring to is fiduciary responsibility. The board and officers of a public corporation have a duty to do what is in the best interest of the shareholders. The question then becomes what horizon is "in the best interest" of the shareholders.
Re:Apple’s profit is always the priority–no matter the cost
by pixelatedindex on Thursday February 10, 2022 @04:16AM
(#30283966)
What happens when the best interest of the shareholders actively harm the public or the community? I used PG&E as an example but telecom companies have accepted government grants to improve their infrastructure but they end up not doing any of it. Our government doesn’t seem to care about these things either, as PG&E continues to not face any consequences and I can’t take my business elsewhere as there are no other energy companies. I rent so I don’t have the option of going off the grid either.
My parent comment got downvoted but I don’t know why - just because you disagree with me doesn’t mean it’s grounds for downvoting, as I’m only trying to facilitate a discussion.
I think some regulations and enforcement is sorely lacking in these areas.
Re:Apple’s profit is always the priority–no matter the cost
by pc86 on Thursday February 10, 2022 @07:47AM
(#30285301)
I think you'd have a hard time as a shareholder arguing in court that an executive should have broken the law in order to get you a higher return.
Unrelated: "Please don't comment about the voting on comments. It never does any good, and it makes boring reading."
Just because it's legal doesn't mean it's the right thing to do, you know? Or perhaps I'm just naïve and everyone should be out for themselves, the community/society be damned.