This is my understanding: under Federal SEC laws, rules and regulations, a publically traded corporation's FIRST obligation is to its SHAREHOLDERS; NOT it's customers, employees, or BOD. Therefore, by law, their BOD must make, in good faith, the wisest decisions that will hopefully guarantee their shareholders' return on investment.
Corporation after corporation in this country are deliberately ignoring that legal mandate, putting shareholders' investments at risk. I believe there are many irate investors, and their numbers and anger are growing. I'm betting there will soon be major lawsuits, huge payouts, and either BOD shakeups, company bankruptcies,
and probably both. Guys like Goodyear are about to be Enron'ed.
This is my understanding: under Federal SEC laws, rules and regulations, a publically traded corporation's FIRST obligation is to its SHAREHOLDERS; NOT it's customers, employees, or BOD. Therefore, by law, their BOD must make, in good faith, the wisest decisions that will hopefully guarantee their shareholders' return on investment.
Corporation after corporation in this country are deliberately ignoring that legal mandate, putting shareholders' investments at risk. I believe there are many irate investors, and their numbers and anger are growing. I'm betting there will soon be major lawsuits, huge payouts, and either BOD shakeups, company bankruptcies, and probably both. Guys like Goodyear are about to be Enron'ed.
listen fat