Contrary to what people say and believe it's not a Fiduciary responsibility to the shareholders. No where in US law or in no court judgements does it say that companies need to maximize profits for shareholders at the expense of employees and customers. Its only greed running that show. PB and MW are not being honest in that regard or that us not being in office is causing the trust issues and not management constantly lying to us.
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Amen, brother
No, not a re----k, whatever you mean by that, the don't like it leave it part is just life. If the company's so bad why did you hire on? What publicly traded company in the world doesn't do everything it can to boost profits & share value as well as keep it's better employees? If you know of a company that pays well who's one and only concern is to coddle whiney baby WFH, work-life balance BS grown up children maybe you should apply there?
Ah looks like some if you don't like it leave rednecks on on here who cares little for employees.
OP, you have no idea what you are talking about. Get a class in the real world.
@bcg+, you definitely have a point there, buddy, and I like the way you comb your hair around it - lol!!
Let me say it this way…. If I buy stock in a company and later learn I can sell it to buy stock in another company that provides me better earnings, why should I keep the first stock I had? Fiduciary duties is something a financial advisor is responsible for, whereas a company’s duty is to keep its stock profitable and/or paying dividends for its stockholders.
@nps, if here in the US we don’t marry our company, what’s that ball and chain doing attached to my leg under my desk?
Corporate America is not like Japan, you do not marry your company for life, you are part of it as long as they need you and you need them, there is no commitment in any ways other than doing your work and getting paid for it and obeying company laws, they can cut any number of employees along with benefits at their discretion, you can leave at any point that is how it is, if you don't like this, you can start your own business or work in another company/ government agency/country with different rules.
Yeah but before the 1980s employees and customers mattered as well. The attitude wasn't give the shareholders everything even if it means hosing over the employees. We need more responsible business leaders in our country that prioritize employees at least a little bit. Yeah the shareholders should make money but its also a bit of a gamble. I wouldn't go to the casino expecting to win every time big.
Not everything has to be a law or in the books, common sense does not need to be enforced but maybe reminded. A public company is responsible to the shareholders, as such shareholders invest in the company for the maximum profit, they do not invest for charity, so yeah it is not in the law but it is common sense finance knowledge.
It was mentioned in the town hall that it's a fiduciary duty to the shareholders. Not true. Yes we want to stock to do well but should we constantly punish the employees and cut for an extra 1% of dividend. The constant obsession with never ending growth from Wall Street is unsustainable
Who ever said or posted that it's a Fiduciary responsibility to make the stock attractive to shareholders and investors so that they don't dump it all and cause it's value to decline? Please link or quote that. Do you guys just like to make up false claims on here daily, like trolls?
Thanks for the legal advice Judge Judy.