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> please remember that as a public company, they are required by law to maximize stock price.

While I agree with the rest of your rant, this is simply untrue. The best summary I can find is here:

> Thanks to a legal doctrine called the business judgment rule, corporate directors who refrain from using corporate funds to line their own pockets remain legally free to pursue almost any other objective, including providing secure jobs to employees, quality products for consumers and research and tax revenues to benefit society. The idea that shareholders "own" corporations is another powerful but mistaken myth with no legal basis. Corporations are legal persons that own themselves. Stockholders own only a contract with the company, called a "share of stock," giving them limited rights under limited circumstances.

http://articles.latimes.com/2012/sep/02/opinion/la-oe-stout-...




An opinion article is not really an reliable source. Same law says:

>directors of a corporation ... are clothed with [the] presumption, which the law accords to them, of being [motivated] in their conduct by a bona fide regard for the interests of the corporation whose affairs the stockholders have committed to their charge

what that mean, is up to interpretation, but I thank you for encourage me to read up on it. Its clearly not a clean cut case as I first thought.

(better link: http://skeptics.stackexchange.com/questions/8146/are-u-s-com...)

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Corporations have a duty to act in the interest of their shareholders, but this is broadly defined. There is no requirement to maximize profit.

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