Domain: litigationandtrial.com
Stories and comments across the archive that link to litigationandtrial.com.
Comments · 4
-
But, Maximizing Profit is the Law
".. a Fiduciary Responsibility to Maximize Shareholder Value."
Capitalism 101 guys - In America, reaping obscene profit is not only desirable, it's the law!
http://www.litigationandtrial.... ..Consequences be damned!
http://www.washingtonpost.com/... -
Re:How I see it...
"obamacare" will RAISE the health care costs for average family of four by over $7K from 2014 to 2022.
If the $18.23/person/month price increase means health insurance companies will have to actually pay to treat their paying customer's medical bills, instead of immediately canceling the insurance policies of the majority of those who start costing them money, or capping their benefits at a few thousand per year and forcing them to max out their credit cards, mortgage their homes, and go into bankruptcy ("Using a conservative definition, 62.1 percent of all bankruptcies in 2007 were medical.") when they actually get sick, it will be MONEY WELL SPENT.
http://www.seiu.org/2012/03/lifetime-caps-on-health-insurance-coverage-are-gone.php
http://www.cnn.com/2009/HEALTH/06/05/bankruptcy.medical.bills/index.html?_s=PM:HEALTH
-
Re:Indeed there must be many ehtical companies ...
The board of directors do not have a requirement to "maximise shareholder value."
This is clearly factually incorrect. Why is parent modded up if it promotes a falsehood?
eBay v. Newmark: Al Franken Was Right, Corporations Are Legally Required To Maximize Profits
-
Re:Predictably...
Right. We have a word for a "person" who is solely concerned for profit and whose "speech" is only concerned with inducing others to give them money.
That word is sociopath.
Since corporations are people entitled to free speech, it's instructive to compare the requirement that corporations MUST invest their money and conduct themselves ONLY for the the purpose of maximizing profits for themselves and their shareholders , as opposed to helping other people or serving some abstract good::
with the definition of sociopath:
From http://medical-dictionary.thefreedictionary.com/Sociopathic+personality+disorder
A condition characterized by repetitive behavioral patterns that are contrary to usual moral and ethical standards and cause a person to experience continuous conflict with society.
Symptoms include aggression, callousness, impulsiveness, irresponsibility, hostility, a low frustration level, marked emotional immaturity, and poor judgment.
A person who has this disorder overlooks the rights of others, is incapable of loyalty to others or to social values, is unable to experience guilt or to learn from past behaviors, is impervious to punishment, and tends to rationalize his or her behavior or to blame it on others. Also called antisocial reaction
...Oh and one more thing that differentiates this sociopath from real humans- it's rich beyond 99.9999% of humans and it never dies.
In a more romantic time, Mary Shelly called this Frankenstein.