LinkedinLunatics

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A place to post ridiculous posts from linkedIn.com

(Full transparency.. a mod for this sub happens to work there.. but that doesn't influence his moderation or laughter at a lot of posts.)

founded 3 years ago

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Bane Mask (lemmy.dbzer0.com)

submitted 1 day ago* (last edited 1 day ago) by CatGPT@lemmy.dbzer0.com to c/linkedinlunatics@sh.itjust.works

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[–] Garnish2087@fedinsfw.app 5 points 23 hours ago (2 children)

It's not actually law and that's just what companies want to be the belief for them behaving reprehensibly

[–] Alcoholicorn@mander.xyz 1 points 13 hours ago

If they didn't, other companies would be more attractive to capital, its how competition works.

[–] vrek@programming.dev 3 points 20 hours ago (1 children)

Am I reading this wrong? https://uslawexplained.com/fiduciary_duty

[–] Garnish2087@fedinsfw.app 1 points 8 hours ago

Yes, I believe you're interpreting that page incorrectly. Fiduciary duties are law bindings for specific relationships and situations not applicable for all publicly traded companies to all shareholders.

I believe you're confusing that idea with the theory of shareholder supremacy that's a claim, popularized by the likes of Jack Welch to support their actions.

The background comes from Dodge v. Ford Motor Co. in 1919 which stated

There should be no confusion... A business corporation is organized and carried on primarily for the profit of the stockholders.

and the interpretation has been quite debated.