Monday, October 7, 2019

What could possibly go wrong?

In August the knights of the Business Roundtable announced that they are putting “stakeholders” ahead of shareholders as their primary business purpose.

Senator Warren sent the Roundtable a letter saying that she "expects" them to "live up to their promises" by endorsing her bill to change the way that capitalism works:

...Every company with revenue of more than $1 billion would have to obtain a new federal charter, in contrast to the current system of state charters.
Instead of serving the interests of the shareholders who own the company, CEOs and directors would have to serve some combination of “the workforce,” “customers,” “the local and global environment” and “community and societal factors.” 

UPDATE:  Why An Elizabeth Warren Presidency May Not Be Catastrophic For The Market

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