Dawid,
This is certainly an extreme view with bitrs of truth, but in reality, it
remains an extreme view .
Bill Pearce
----- Original Message -----
From: "Dawid Loubser" <dawidl@xxxxxxxxxxx>
To: "Olympus Camera Discussion" <olympus@xxxxxxxxxxxxxxxxx>
Sent: Thursday, December 03, 2009 3:49 AM
Subject: Re: [OM] OT: Google Wave
> 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.
>>
>> --
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>
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