Ricky Muddimeradded this to Leadership · 11hCEOs 181 Top CEOs Have Realized Companies Need a Purpose Beyond ProfitHarvard Business Review - Claudine Gartenberg and George SerafeimOn August 19 the Business Roundtable issued an open letter titled “Statement on the Purpose of a Corporation.” One of the preeminent business lobbies in the United States, the Business Roundtable (BR)
Conservative View Hypocritical NY Times Bashes ‘Greed'-Inspired Milton Friedmannewsbusters.org - Clay Waters In a story for the New York Times front page Tuesday, “Shareholders Rule No More, C.E.O.s Pledge,” business reporters David Gelles and David …
Apple 3.0 · 11hInvesting Dear Andrew Ross Sorkin, what about Apple?Apple 3.0 - Philip Elmer-DeWitt What if there were a company that put the greater good ahead of shareholder value? Transcribed from the NYT’s The Daily podcast: “What American …
Forbesadded this to Technology · 16hBusiness Business Roundtable's New "Purpose" Brings Gushing, Grumbling, Grousing -- And GlobalizationForbes - Ken RobertsI analyze export-import data, connecting it to trade policy, life Jamie Dimon, Chairman and CEO, JPMorgan Chase, led the effort to update the Business Roundtable statement of purpose. ASSOCIATED PRESS
The Wall Street Journal. · 1dCEOs Milton Friedman on CEOsThe Wall Street Journal. - The Editorial BoardThe mucky-mucks of the Business Roundtable are tweeting in unison how “proud” they are to have abandoned the corporate purpose of serving shareholders for the more politically au courant “stakeholder”
David Grayadded this to Branding · 11h Listen up! Shareholder value no longer everything for big businesssmh.com.au - Stephen Bartholomeusz "Companies must obey the law. But, beyond that, their job is to make money for shareholders," Friedman wrote. Yet on Monday, 181 of the 193 member …
The Wall Street Journal.added this to Opinion · 1dOpinion Notable & Quotable: Milton Friedman on Corporate ResponsibilityThe Wall Street Journal. - The Wall Street JournalFrom “The Social Responsibility of Business Is to Increase Its Profits” by Milton Friedman, New York Times Magazine, Sept. 13, 1970: In a free-enterprise, private-property system, a corporate executive
New York Magazineadded this to Daily Intelligencer · 1dCEOs When CEOs Promise a Kinder Capitalism, Watch Your WalletNew York Magazine - Eric Levitz “Here the businessman … is to be simultaneously legislator, executive, and jurist.” For most of the past four decades, Corporate America has preached …
Chicago Tribuneadded this to Opinion · 1dPrivate Sector Editorial: Was Milton Friedman wrong? No, just nuanced about the role of business in society.Chicago Tribune - The Editorial BoardLong ago, famed University of Chicago economist Milton Friedman made several clear-eyed points about the role of corporations in the American free market system. Companies, he said, exist to serve their
FlipboardIcon version of the Flipboard logoInvesting How the Media Should Cover Corporations Nowprospect.org - Paul Waldman Yesterday’s restatement of corporate purpose from the Business Roundtable is a clear acknowledgment that America’s economic pooh-bahs have realized …
Grant Bremneradded this to Sustainable · 23hManagement The CEOs of Apple, Amazon, Walmart, and Target Just Made a Huge Announcement. It Hinges on 2 Very Important WordsInc Magazine - Justin BarisoThey sound alike, and even have the same number of letters, but these words mean vastly different things. Yesterday, the Business Roundtable, a group of nearly 200 of the most powerful CEOs in America,
Randhir Deoreadded this to Misc Picks · 2dInvesting Why Maximizing Shareholder Value Is Finally DyingForbes - Steve Denning“CEO group says maximizing shareholder profits can’t be main goal” is the top story in the Washington Post. “Group of US corporate leaders ditches shareholder-first mantra” declares the front page of The
The Guardianadded this to Top Stories · 2dCapitalism Is US capitalism really abandoning the 'greed is good' mantra?The Guardian - Larry ElliottMilton Friedman will be spinning in his grave at the heresy perpetrated by the US Business Roundtable. For the thick end of five decades US capitalism has been run along Friedmanite lines – namely that
The New York Timesadded this to Business Day · 2dBusiness How Shareholder Democracy Failed the PeopleThe New York Times Stocks and Bonds,Income Inequality,Corporations,Pensions and Retirement Plans,Business Roundtable,Council of Institutional Investors,Dimon, James,Fink, Laurence D,Friedman, Milton,Jones, Paul Tudor II
Business Insider Indiaadded this to Latest Stories · 2dCEOs 181 CEOs of public companies, including Apple, JPMorgan Chase, and Walmart, have declared a company's purposebusinessinsider.in - Richard Feloni The heads of some of the biggest companies in the United States declared on Monday that their companies exist to "benefit of all stakeholders - …
Techdirtadded this to Techdirt · 13hInvesting Potentially Big News: Top CEOs Realizing That 'Maximizing Shareholder Value' Isn't A Great Ideatechdirt.com - Wed, Aug 21st 2019 1:22pm — Mike Masnick For the better part of two years, I've been noodling on a post (I've half written it a bunch of times) talking about how perhaps the biggest problem …
Los Angeles Timesadded this to Business · 2dBusiness Column: In shocking reversal, Big Business puts the shareholder value myth in the graveLos Angeles Times - Michael HiltzikAmong the developments followers of business ethics may have thought they’d never see, the end of the shareholder value myth has to rank very high. Yet one of America’s leading business lobbying groups
Bloombergadded this to Bloomberg · 2dOpinion Maybe CEOs Are Fed Up With ShareholdersBloomberg - Matt Levine The Business Roundtable said Monday that it is changing its statement of “the purpose of a corporation.” No longer should decisions be based solely …
The Daily Beast · 2dInvesting Business Roundtable: CEO Lobbying Group Will No Longer Solely Strive for Maximizing Shareholder ValueThe Daily Beast - Barbie Latza Nadeau The group representing America’s most important companies is rethinking norms in corporate decision-making. The Wall Street Journal reports that the …
The Wall Street Journal.added this to Opinion · 2dOpinion Big Business and its 'Stakeholders'The Wall Street Journal. - James FreemanAll but a handful of America’s largest public corporations on Monday vaguely agreed to serve “stakeholders,” including people with no direct connection to their firms. Leaders of 181 of the 193 member
ABC News · 2dCEOs Top US CEOs rethink the meaning of shareholder valueABC News - The Associated Press The "shareholder comes first" has for years been the mantra of the Business Roundtable, a group that represents the most powerful CEOs in America and …
Quartzadded this to The 2050 Project · 2dInvesting Not everyone is on board with a major business lobby’s new definition of corporate purposeQuartz - Heather LandyThe Business Roundtable’s new statement on the purpose of companies has won a lot of praise today, mainly from critics of the kind of capitalism that serves shareholders at the expense of workers, society,
CCaptain Spockadded this to Economics · 2dAmerican Airlines Corporate leaders scrap shareholder-first ideologyBBC NewsOne of the US's most powerful business groups has abandoned the shareholder-first idea that has driven capitalism for decades. The Business Roundtable said the pursuit of shareholder interests is no longer
Fortune · 2dCoinbase A Cryptocurrency Custody Battle Is A-Brewing—The LedgerFortune - Robert Hackett Talk about a custody battle. A slew of startups and established financial giants are vying to become the trusted vault for cryptocurrency investors' …
ToddXoXadded this to Living in a RV / Skoolie · 2dBusiness Newsletter: The RV Industry Signals a Recession Around the BendThe Wall Street Journal. - Jeffrey SparshottThis is the web version of the WSJ’s newsletter on the economy. You can sign up for daily delivery here . U.S. recreational-vehicle sales are telling a story about the economy, the Fed is in focus and
GGuillaume Cavelieradded this to Guillaume · 2dCEOs America’s CEOs Seek a New Purpose for the CorporationFortune For Milton Friedman, it was simple. “There is one and only one social responsibility of business,” the Nobel economist wrote in 1970: to “engage in …
The Wall Street Journal. · 3dCEOs Move Over, Shareholders: Top CEOs Say Companies Have Obligations to SocietyThe Wall Street Journal. - David BenoitBusiness Roundtable urges firms to take into account employees, customers and community The leaders of some of America’s biggest companies are chipping away at the long-held notion that corporate decision-making
Exports Exports are the goods and services we have to give up to get imports, which means exports are a cost, NOT a benefitaei.org - www.aei.org Over at the Cafe Hayek blog, in a series of posts Don Boudreaux has been patiently and repeatedly trying to explain to several of his readers and …
The Wall Street Journal. · 6dAlan Greenspan Central Bankers in Glass HousesThe Wall Street Journal. - Charles W. CalomirisThe Fed was politicized long before Donald Trump got to the White House or even started tweeting. What to make of the current battle over the politicization of the Federal Reserve? The past year has featured
Bloombergadded this to Markets · 6dInvesting BlackRock’s Hildebrand Tells Europe Cash Handouts Should Be NextBloomberg - Carolynn Look Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The world’s largest asset manager says European …
