Monday, February 8, 2010

Quote of the Moment

"The leadership of a public company like Sun or Oracle, the kind that anyone can own a share in by buying public stock, is bound by what is known as the "fiduciary duty" -- their decisions must be made with the goal of maximizing company profit, to be paid out to its owners in the form of dividends to the shareholders. Shareholders supervise the executives' fulfillment of this duty through a board of directors, who are elected by the shareholders and usually represent the interests with the largest shares. Notice that the well-being of employees, or of the public at large in the economy in which a company participates, are not a part of this equation."
--Excerpt from an essay by Geoff Simmons on his departure from now-defunct Sun.

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