“Over the last 40 years or so, legal academics have been insisting with increasing stringency that corporations that consider anything other than shareholder value in choosing their actions are derelict in their duties. As the shareholders (or, more precisely, their hired analysts) got ever more obsessed with short term results, all sorts of increasingly bad effects for society emerged as the consequences of this sort of thinking.
The pendulum is swinging the other way now. For years, the less-vulturey cohort of CEOs have been as sick as anyone else of the chorus of analysts squawking about the impact of every single long-term investment or citizenship effort on next quarter’s bottom line. Now they feel like things have gone far enough that they can say something about it.”
— dal20402, The Truth About Cars
RE:SOURCES
- dal20402; 2019. Commentator in “Shareholders No Longer Riding Shotgun, Say American Automakers.” The Truth About Cars. Posted August 21; accessed August 21.
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