Is there some reason that I don't know about . Why AT&T doesn't cut cost by replacing their board of directors with employees .They have an interest in the company and they wouldn't just show up at board meetings to drink and talk about their golf score .
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Yeah, why don't employees start their own company since they know so much and can do so much better.£
But then what would be their excuse for the ensuing trainwreck?
Let me guess: oh, att beat us with their unfair business practices! We're just too ethical to compete!
Yeah, why don't employees start their own company since they know so much and can do so much better.
The board is there to eat, drink and take vacations.
'O. And to place each other on their boards to collect extra money. (Notice that I didn't say earn).
German law has something called co-determination. Companies of a certain size must have employee representatives on their boards of directors. Gives labor a voice in the business.
Seriously? AT&T has some of the d-mbest, most narrow minded people working for the company. You think they know what is best for investors? HA!
United airlines tried before, around the turn off the millennium. Employee ownership. Board stocked with them too. It was such a great idea. Company would be so much better run by the employees then those silly managers.
They went bankrupt within a few months.
The board is voted in by the share holders. And most of the top shareholders are in completely different fields of work . Putting the workers in would make too much sense.
Acton
“The men that American people admire most extravagantly are the most daring liars; the men they detest the most violently are those who try to tell them the truth.” HLMencken
They don’t do that because they don’t care about employees. We are a necessary evil.
Because that is simply not the way the world works.
The way it works and someone correct me if I am wrong . ...... you put me on your board of directors and I will put you on mine and we can both make a little extra money having a fun filled weekend .
It is a big club created to enrich each other. Ratty was on the BoD of other companies, that he helped ruin. Like the Boy Scouts as one example. T BoD made up of CEOs from other companies.
This is why the rubber stamped Ratty's waste of $100B. And why The Stink is still around.
And Vanguard and Blackrock, the largest institutional shareholders, are too busy with their Climate Change agenda with Exxon to do anything to remove all the T BoD for their gross incompetence.
Stupid post.