The CEOs of nearly 200 companies just said shareholder value is no longer their main objective

CNBC ^ | 8/19/2019 | Maggie Fitzgerald

[originalbuckeye]

I don’t want to click on the article, but does it list the 200 companies? If so, then the shareholders who care about this could all sell. At least that might wake up the controllers. But then maybe Soros and his million entities would buy up the stock and then the companies would be in his control. I’d like to see a list of the companies so I could make some decisions.

[Bulwyf]

Hollywood has always been left. There are a few exceptions, but not many.

[cgbg]

We believe the free-market system is the best means of generating good jobs, a strong and sustainable economy, innovation, a healthy environment and economic opportunity for all.

They are lying. If they spoke the truth this is what they would say:

We believe a kleptocracy is the best means of increasing corporate value. We want to maximize our value by increasing the quantity and complexity of government laws and regulations so our smaller competitors will be forced out of business. We want good jobs for our executives, a healthy environment in our gated communities, and economic opportunity for our families. Everybody else is deplorable and should get nothing but propaganda to keep them in line.

[IndispensableDestiny]

If true, this is a good thing. It would be a return to the thinking prevalent among the best corporations of the 60s and 70s. Before the mergers and acquisitions mania began.

[CodeToad]

There is twice the cash in the economy a before. Usually $12T is out there but there is $24T today. Corporations couldn’t care less about cash for investment. They have more than they could possibly spend.

[Reily]

I agree !
I just like the Goebbels quote.

[1Old Pro]

delivering value to customers...

Clearly the MSM is not part of this roundtable.

[samadams2000]

The New Coke.

[Mariner]

This won’t last long.

They’ll be killed in the market and the shareholders will give the boot to these silly SJW.

[ExTxMarine]

If the company does not make the shareholder money, the shareholders will take their ball and go home (remove their money from the company)!

So, no matter what else they do, they WILL make money for the share-holders - PERIOD! Capitalism works just like that and no other way!

[GnuThere]

I Googled “Business Roundtable about,” it’s some big companies so I guess it’s time for someone to create a mutual fund called “S & P 500 Index x Business Roundtable Companies.”

[originalbuckeye]

Thank you. Will look into that.

[Jan_Sobieski]

Who are they trying to please?

Answer: “Satan”. ...Ezekiel 28:12 You were the seal of perfection, full of wisdom and perfect in beauty. 13You were in Eden, the garden of God. Every kind of precious stone adorned you: ruby, topaz, and diamond, beryl, onyx, and jasper, sapphire,a turquoise, and emerald. Your mountings and settings were crafted in gold, prepared on the day of your creation. 14You were anointed as a guardian cherub, for I had ordained you. You were on the holy mountain of God; you walked among the fiery stones. 15From the day you were created you were blameless in your ways until wickedness was found in you. 16By the vastness of your trade, you were filled with violence, and you sinned.

[BobinIL]

Looks like they would be open to a Breach of fiduciary duty suit.

[Kozak]

Here’s the companies NOT to invest in....
https://www.businessroundtable.org/about-us/members

[GnuThere]

I still own some individual stocks, JNJ being a big one - I see their CEO is listed. Thanks for nothing, JNJ.

[Petrosius]

Then those shareholders need to replace their business leaders.

[dfwgator]

Interlocking Directorates are the problem. the Board of Directors all look after each other, it’s a Big Club, and you ain’t in it.

[pas]

investing in employees. Apparently my CEO does not know anything about this. But his pay is voted on so it is all good.

[cyclotic]

My companies parent isn’t on the list. Good