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>> The next time someone trots out the tired old "companies are legally obligated to maximize profits/shareholder value" to explain away crappy corporate behavior, I'm linking to this.

What he's doing IS MAXIMISING SHAREHOLDER VALUE! In the long term the sustainability projects will be important. Over 97% of shareholders rejected the proposal put forward so technically he was doing what the majority of the shareholders agreed with.


Did the stock go up after the event? http://finance.yahoo.com/q/bc?s=AAPL&t=5d&l=on&z=l&q=l&c=

For some people, value != price

This took place at the annual general shareholders meeting - this was obviously not the only thing discussed. For all you know his remarks on this subject prevented a larger drop in price.

Stock going up just after an event doesn't mean that event was good for the company. A dead cat bounce is stock going up.

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