you are viewing a single comment's thread
view the rest of the comments
[–] 7 points 2 years ago (2 children)

It's the cargo-cult interpretation of Dodge v. Ford Motor Co.

  • source
  • parent
  • hideshow 2 child comments
  • [–] 1 point 2 years ago (1 child)
  • [–] 1 point 2 years ago

    The ruling of that Supreme Court case was that publicly-traded companies are obligated to act in the interests of their shareholders, rather than employees or customers. Cargo cultist MBA-types -- those who have superficial knowledge, but lack actual understanding -- think that means companies must be purely sociopathic and slavishly work to increase quarter-to-quarter stock returns at all costs, but that's not actually true because management is still allowed to take things like long-term stability and customer goodwill into account.

  • source
  • parent