[Vocans]

Originally Posted by Efthreeoh

I'm sorry but I have to rant a bit here. I'm sick and tired of this Ivy League business axiom that the duty of a company is to its share holders. I think this is just utter fucking bullshit, and has screwed up more perfectly good well-run companies than any economic downturn cycle. Any businesses first and foremost "duty" is to its Customers, not share holders. If a company holds true to its customers, the stock price will reflect it.

For the record, it's not an "Ivy League business axiom," nor is it really an axiom in the literal sense, it's a well-rooted principle of corporate law in the United States that corporate directors and officers owe fiduciary duties to shareholders (the owners of the corporation). To effect any kind of change in these duties would require undoing various state statutes and case law that have been in place for well over a hundred years, it's not a new philosophy by any means. Granted, I'm not a German attorney so I can't really speak to the fiduciary duties of directors and officers in German entities.