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A comment on Google combines Maps and Waze teams in restructuring move. Parent comment

Re:Google combines Maps and Waze teams in restructuring move by gumby on Thursday December 08, 2022 @06:54PM (#33915534)
Their fiduciary responsibility is not to defraud the shareholders. Milton Friedman’s idea that management’s only constituency is the shareholders is not actually a matter of law.

Management can just say “in our judgement X is the right thing to do, not Y”. Google is too big for TCI to try to gain control over.

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Re:Google combines Maps and Waze teams in restructuring move by baryphonic on Thursday December 08, 2022 @07:18PM (#33915759)
Courts of law would beg to differ

https://corpgov.law.harvard.edu/2021/12/01/dodge-v-ford-what...

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Re:Google combines Maps and Waze teams in restructuring move by joshuamorton on Thursday December 08, 2022 @10:11PM (#33916943)
The wikipedia page pretty accurately summarizes why Dodge v. Ford isn't really a useful citation.

Firstly, if an executive says "we believe this is in the interest of long-term shareholder value", the courts basically just defer to their judgement. You can't get the courts to run a company for you.

And second, the precedent has been softened since 1916 (or wasn't even true at the time), and for example some corporations like B-corps explicitly reject it, without any legal consequences.

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