"Are US companies legally obligated to maximize profits for shareholders?"

Re:"Are US companies legally obligated to maximize profits f... by cnelsenmilt on Friday February 17, 2023 @11:41AM (#34836906)

Almost no reasonable regulation will be effective if this is the standard of behavior. To punish a cheater when cheating is part of the game, you need incredibly strong rules and almost perfect enforcement. The subjects of the regulation will do whatever they can to "work the refs", exploit loopholes, or just get the regulations changed outright. They will ignore everything where the penalty doesn't outweigh the profit.

We have seen all of these happening in modern times.

[ Parent | on HN ]

Re:"Are US companies legally obligated to maximize profits f... by alright_scowl on Friday February 17, 2023 @11:51AM (#34837047)

> Almost no reasonable regulation will be effective if this is the standard of behavior

That is the standard of behavior.

Regulation is what stops companies selling you contaminated food, working conditions similar to slavery, factories polluting the air and water with dangerous chemicals, so on and so forth

> you need incredibly strong rules and almost perfect enforcement.

And that's what citizens should demand of their governments

[ Parent | on HN ]