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TerdFerguson
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https://www.cnbc.com/amp/2019/08/19/the-ceos-of-nearly-two-hundred-companies-say-shareholder-value-is-no-longer-their-main-objective.html

Quote :
"Shareholder value is no longer the main focus of some of America's top business leaders.
The Business Roundtable, a group of chief executive officers from major U.S. corporations, issued a statement Monday with a new definition of the "purpose of a corporation."
The reimagined idea of a corporation drops the age-old notion that corporations function first and foremost to serve their shareholders and maximize profits. Rather, investing in employees, delivering value to customers, dealing ethically with suppliers and supporting outside communities are now at the forefront of American business goals, according to the statement."


Some real knee slappers in this one.

[Edited on August 19, 2019 at 4:27 PM. Reason : We’ve entered the “lip-service” to sochulism stage of late capitalism]

8/19/2019 4:24:50 PM

LoneSnark
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There has always been shareholder value in lying to the public about your goals because it helps keep the powers that be at bay. But the real benefit to the public is in maximizing value of resources, which is a close approximation to maximizing shareholder value. As such, if only business leaders actually had shareholder value in mind, we'd be better off as consumers.

Quote :
"Just ungodly amounts of money being poured into the market so a corporation can hit its Q3 stock price numbers. Actual investment in your company is for chumps."

As we should expect it to be, since the government has constrained competition to such a degree. We need to scrap much of the patent system, the entire design patent system, slash copyrights, slash zoning restrictions, and keep deregulating industries until profits return to more reasonable levels.

[Edited on August 20, 2019 at 9:45 AM. Reason : .,.]

8/20/2019 9:38:51 AM

TerdFerguson
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8/20/2019 11:16:53 AM

TerdFerguson
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Ok, sorry for that meme non answer Lonesnark, now I have a legit question:

Does trust busting fit into your “deregulation” prescription? Like literally breaking apart giant businesses to promote competition? Or is “deregulation” to you more along the margins reductions in consumer and marketplace rules?

[Edited on August 20, 2019 at 11:48 AM. Reason : ......I’m not really sorry]

8/20/2019 11:48:08 AM

ScubaSteve
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Quote :
"We need to scrap much of the patent system, the entire design patent system, slash copyrights, slash zoning restrictions, and keep deregulating industries until profits return to more reasonable levels."


Sounds like China without the state run companies to me.

8/20/2019 3:10:58 PM

LoneSnark
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^ State run capital markets are a major hindrance in China's economy, to be sure. Not to mention the chronic favoritism. It is no accident that many of their wealthiest citizens are high ranking military officials and not members of the business class like one would expect. But, being able to have your competitors suddenly sent to re-education camps tends to help ones bottom line.

^^ It is conceivable that trust busting might be necessary under some super rare scenarios. Last I heard, many economists posit that there might be an issue in the current diamond mining business. But, artificial diamonds exist, so even if the market for "natural diamonds" is captured, substitutes exist.

As for non-mining markets, there is no real need for trust busting. America ran without such laws for over a century and American did not appear to be hindered by their lack of anti-trust laws during that time. America was of course hindered by lots of laws it did have during this name, but such wasn't what you asked.

8/20/2019 11:23:41 PM

Dentaldamn
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Quote :
"We need to scrap much of the patent system, the entire design patent system, slash copyrights, slash zoning restrictions. "



I can’t see into the future but if a Democrat proposed this it would inevitably be called a socialist plot to destroy the economy.

8/21/2019 6:40:16 AM

LoneSnark
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I can't imagine either a Democrat or a republican proposing such

8/21/2019 8:35:12 AM

dtownral
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patent reform has been proposed multiple times

[Edited on August 21, 2019 at 9:00 AM. Reason : .]

8/21/2019 9:00:44 AM

LoneSnark
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For something that is causing so much damage, I'm not surprised they're considering making changes on the margin. But none of those bills, best I've heard, would have actually "fixed" the system even if they had a chance of passing.

8/21/2019 10:59:46 AM

dtownral
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they have offered proposals that started out with big changes

i'm referring to your post that no one would propose them, they of course get watered down to little because of corporate interests. regulation like this happens because the "free market" wants and creates it.

8/21/2019 11:43:11 AM

Dentaldamn
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The “feature not a bug” saying always bothers me.

But this is definitely a feature not a bug.

8/21/2019 6:16:22 PM

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