Olympus-OM
[Top] [All Lists]

Re: [OM] OT: Google Wave

Subject: Re: [OM] OT: Google Wave
From: Dawid Loubser <dawidl@xxxxxxxxxxx>
Date: Thu, 3 Dec 2009 11:49:38 +0200
Chris,

A individual or a company cannot, of course, take itself to court.

I made the assertion that a publicly-traded corporation is legally  
mandated to
pursue the monetary interest of its shareholders above all else.  
Certainly
in U.S. and UK legal systems. This is, to my mind, damaging to mankind.

If anybody doubts this, I suggest they read the book "The Corporation"  
by
law professor Joel Bakan.

Bakan's argument includes the point that the corporation's sole reason
for being is to enhance the profits and power of the corporation. He  
shows
(by citing court cases) that it is the *duty* of management to make  
money and
that any compromise with that duty is *dereliction of duty*.

Another point he illustrates (again, by citing court cases)
is that "corporations are designed to externalize their costs."
The corporation is "deliberately programmed, indeed legally compelled,  
to
externalize costs without regard for the harm it may cause to people,
communities, and the natural environment. Every cost it can unload  
onto someone
else is a benefit to itself, a direct route to profit."

It was an interesting and eye-opening read indeed, when I first laid  
eyes on it
about 5 years ago.

regards,
Dawid

On 03 Dec 2009, at 11:08 AM, Chris Barker wrote:

> Dawid
>
> They would be taking themselves to court if that were the case.
>
> Chris
>
> On 3 Dec 2009, at 08:08, Dawid Loubser wrote:
>
>> By law, the primary purpose of a publically-traded corporation is to
>> make profit
>> for its shareholders. Any shareholder can take a corporation to court
>> if, for example,
>> the corporation took steps (such as doing e.g. a "good deed") which
>> caused a drop in the
>> shareholder's investment. There reverse is not true, however.
>
> -- 
> _________________________________________________________________
> Options: http://lists.thomasclausen.net/mailman/listinfo/olympus
> Archives: http://lists.thomasclausen.net/mailman/private/olympus/
> Themed Olympus Photo Exhibition: http://www.tope.nl/
>

-- 
_________________________________________________________________
Options: http://lists.thomasclausen.net/mailman/listinfo/olympus
Archives: http://lists.thomasclausen.net/mailman/private/olympus/
Themed Olympus Photo Exhibition: http://www.tope.nl/

<Prev in Thread] Current Thread [Next in Thread>
Sponsored by Tako
Impressum | Datenschutz