110

do public companies always have to do what makes the shareholders the most money or risk being sued? (lemmy.world)

submitted 8 months ago by Modern_medicine_isnt@lemmy.world to c/asklemmy@lemmy.world

27 comments fedilink hide all child comments

I know the board has some fiduciary duty, but can a company put some guardrails on it when they go public, like saying the environment will always come first, or employees or customers or something?

you are viewing a single comment's thread
view the rest of the comments

[-] PhlubbaDubba@lemm.ee 32 points 8 months ago

Yeah fiduciary obligation comes before everything else.

Wasn't always that thing, companies used to be able to use what was called the 1 2 3 rule, meaning their priorities were to 1) the customers, 2) the employees, and 3) the investors.

However neoliberalism came along and now investors will be calling lawyers if the customer or employee factors in at all save for calculating how much you can screw them over before you're facing a boycott or strike.

this post was submitted on 18 Feb 2024

110 points (95.1% liked)

Ask Lemmy

26826 readers

588 users here now

A Fediverse community for open-ended, thought provoking questions

Please don't post about US Politics. If you need to do this, try !politicaldiscussion@lemmy.world

Rules: (interactive)

1) Be nice and; have fun

Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them

2) All posts must end with a '?'

This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?

3) No spam

Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.

4) NSFW is okay, within reason

Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com. NSFW comments should be restricted to posts tagged [NSFW].

5) This is not a support community.

It is not a place for 'how do I?', type questions. If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.

Reminder: The terms of service apply here too.