Group of top CEOs says maximizing shareholder profits no longer can be the primary goal of corporations

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NotOnTV

BRB -- Taking an okie leak
Sep 14, 2010
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Gondor
#21
Big corporations have taken it upon themselves to lead the charge of social justice/social engineering. This impacts the bottom line in that most people resent being preached to and told they are a "toxic male". The $8 billion write down of the Gillette brand is exactly what P&G earned.
 
Sep 29, 2011
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Breckenridge, CO
#22
Check these two sentences from the article:

A group representing the nation’s most powerful chief executives on Monday abandoned the idea that companies must maximize profits for shareholders above all else​
“CEOs work to generate profits and return value to shareholders, but the best-run companies do more. They put the customer first and invest in their employees and communities. In the end, it’s the most promising way to build long-term value,” said Tricia Griffith, president and CEO of Progressive Corp.​
The latter does not mean the former, it doesn't mean that at all.
Chasing short term gains can kill ya in the long term. Lot of CEO's are out there chasing short term gains they fly the coop take their golden parachute and it takes the corporation years to recover. There has been a lot of it going on lately. Growth is expensive as heck but it drives up stock prices while driving up debt and creating a negative cash flow. It can get tough convincing the bank your making a profit when your loans keep getting bigger.
While it does happen, it’s not as common as you imply. Any Corp with a well constructed and engaged BOD will not allow a CEO to mortgage the future for short-term shareholder value just to benefit near-term sellers. In many cases where it appears a CEO gets out with a fortune just ahead of hard times for the company, it’s more a case of the CEO understandingvthe market and future challenges.


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Sep 6, 2012
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Edmond
#23
So how many of them or which one of them are going to give up their 5 million and up salaries and stock options?

CEO's do and say some stupid things. Heck, I remember when I was running 2 states for a fortune 100 company. I had to run 2 states because of a hiring freeze and a RIF of boots on the ground and lower management. During that time the CEO bought a 800 thousand dollar Harley and had it on Jay Leno while they were laying off people and doing the stupid crap they do like, laying off lower management that was in the field. They then put on of their upper management people in that position but not in the field at the same pay they were making as a corporate employee.

https://www.hdforums.com/articles/jay-lenos-star-studded-charity-bike-auction/
 

StillwaterTownie

Federal Marshal
Jun 18, 2010
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#24
How about driving corporate profits at taxpayer expense? One reason why conservatives are opposed to any more Medicaid is over workers switching to Medicaid from it being a better deal than their employer's health plan. And people who become disabled and can't work may have to be put on a waiting list for help from the state.
 

Rack

Legendary Cowboy
Oct 13, 2004
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#25
How about driving corporate profits at taxpayer expense? One reason why conservatives are opposed to any more Medicaid is over workers switching to Medicaid from it being a better deal than their employer's health plan. And people who become disabled and can't work may have to be put on a waiting list for help from the state.
Your assumptions about what "conservatives" think knows no bounds...You can't lump people together...people both conservative and liberal are as diverse in opinion as the day is long.
 
Sep 29, 2011
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#26
So how many of them or which one of them are going to give up their 5 million and up salaries and stock options?

CEO's do and say some stupid things. Heck, I remember when I was running 2 states for a fortune 100 company. I had to run 2 states because of a hiring freeze and a RIF of boots on the ground and lower management. During that time the CEO bought a 800 thousand dollar Harley and had it on Jay Leno while they were laying off people and doing the stupid crap they do like, laying off lower management that was in the field. They then put on of their upper management people in that position but not in the field at the same pay they were making as a corporate employee.

https://www.hdforums.com/articles/jay-lenos-star-studded-charity-bike-auction/
Is that company still around?
 
Sep 29, 2011
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Breckenridge, CO
#27
How about driving corporate profits at taxpayer expense? One reason why conservatives are opposed to any more Medicaid is over workers switching to Medicaid from it being a better deal than their employer's health plan. And people who become disabled and can't work may have to be put on a waiting list for help from the state.
First, I have no idea what it is you're trying to insinuate.
Second, it's not the business world's duty to design and implement employment plans and staffing requirements based on the government's approach to social programs.
 

StillwaterTownie

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Jun 18, 2010
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#29
First, I have no idea what it is you're trying to insinuate.
Second, it's not the business world's duty to design and implement employment plans and staffing requirements based on the government's approach to social programs.
But I already know that.

But it remains a fact that conservatives in Oklahoma are likely to be strongly opposed to expanding Medicaid for Oklahoma, led by Gov. Stitt. Another reason why is they fear making people dependent on government for health care. I wouldn't be surprised that many corporations would love to be totally relieved of providing health care plans to enhance the bottom line.
 
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StillwaterTownie

Federal Marshal
Jun 18, 2010
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#30
Your assumptions about what "conservatives" think knows no bounds...You can't lump people together...people both conservative and liberal are as diverse in opinion as the day is long.
LOL, people on here often sterotypically characterize liberals and leftists in one way or the other to make their cases against them. It's useless to complain about it.
 
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Sep 29, 2011
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#32
First, I have no idea what it is you're trying to insinuate.
Second, it's not the business world's duty to design and implement employment plans and staffing requirements based on the government's approach to social programs.
But I already know that.

But it remains a fact that conservatives in Oklahoma are likely to be strongly opposed to expanding Medicaid for Oklahoma, led by Gov. Stitt. Another reason why is they fear making people dependent on government for health care. I wouldn't be surprised that many corporations would love to be totally relieved of providing health care plans to enhance the bottom line.
Aside from the fact I still don’t know what the heck you’re attempting to postulate, why don’t you just give us some real data, policies or transactions that support whatever point you’re attempting to make - all in the context of how corporations operate which is the subject of this thread.


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Rack

Legendary Cowboy
Oct 13, 2004
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#33
LOL, people on here often sterotypically characterize liberals and leftists in one way or the other to make their cases against them. It's useless to complain about it.
As I said, it is fallacy on both sides to make assumptions about individuals and lumping them together based on one premise, both 'sides" are guilty of this lumping together and dumbing down.