Never Thought I’d Read This
Whoa! To think that CEOs now think that the purpose of business should extend beyond the shareholder value that we’ve been living under for the last forty years is unbelievable. I can’t believe I’m actually reading this.
What prompted them to think that shareholder value can’t be the sole reason for being? Why now? Is it because we now have candidates who could be voted in and could start making real changes to the way businesses run? The threat of Elizabeth Warren or Bernie Sanders as a viable candidate? I don’t know. I would like to know what has caused them to change their minds because the Great Recession certainly didn’t. The constant drumbeat in the news of the growing income inequality certainly didn’t make them reconsider. They weren’t shamed when the news noted that the tax cuts went to stock buybacks rather than increases in wages or investments.
Is this for real? If it is, it is not going to happen overnight. It took us forty years to get here. And the “shareholders” are not going to stand by passively.
This is earthshattering for me. I wished they could have come to this realization sooner.
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