Comments for Corporations Do Not Exist to Create Jobs at http://www.cepr.net , comment 1 to 7 out of 7 comments http://www.cepr.net Tue, 21 May 2013 01:52:09 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11110 CEOs and investors may believe the purpose of the corporation is not to create jobs, but the state grants a corporate charter to enhance the wealth of the state -- including jobs -- not simply to produce returns to shareholders. The executive's first fiduciary obligation is to enhance the real value of the corporate entity, not to produce returns to certain shareholders. This has been a dangerous distortion that has led to toxic compensation packages that "align" executive incentives with those of the shareholders -- especially shareholders who prefer to turn as quick a buck as possible. Executives who focus on enhancing shareholder value -- i.e., higher stock prices for traders (and for themselves in the process) -- engage in a huge conflict of interest and violate their primary fiduciary obligation to enhance the value of the corporation itself without regard to short-term benefit for certain stockholders. - urban legend Fri, 26 Aug 2011 20:35:20 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11077 . . . organized under the laws of states, which in theory are run by we the people. We could require them to put things other than profits into their charters as important, but we either don't know we could do that or we lack the will. Carolyn Kay MakeThemAccountable.com - Carolyn Kay Fri, 26 Aug 2011 07:02:16 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11065 Just like "right to work" is Republican code exploit the workforce and kill unions, "free trade" is to get cheap labor and maximize profits. NAFTA being a first hand example, in my case, of job killing "free trade" agreements. So they can sit on the President's desk til hell freezes over or until they are revised to make economic justice for all happen in real life. - denim Fri, 26 Aug 2011 04:19:21 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11060 yo Dean- that yankees line was sweet :) - frankenduf Fri, 26 Aug 2011 04:06:14 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11059 It is near impossible to canvas a report from the Times or CNN or NPR or PBS on corporate management without hearing the tired lines about "responsibility to shareholders" (as if there were any evidence of concern about such responsibility among managers today). Any Times reporter is well-schooled in this and related news media dogma. More to the point, the Chamber of Commerce has made perfectly clear its indifference to job creation — despite, again, well-voiced hat-tipping to the standard dogma about jobs. The Times sounds more like a mouthpiece for the conservative Congress — endlessly pretending that by serving the rich, the rest of us are also served. Trickle Down Kool-Aid — it's been the drink of choice from right to center (and liberal) in political, media, and academic circles since the Reagan regime. The Times reporter suggests some awareness of this with the addition of "ostensible". The claim of job creation would better be termed "standard moderate and conservative propaganda packaging" to make one-sidely, pro-business policy palatable to the general population. - Hugh Sansom Fri, 26 Aug 2011 04:00:57 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11057 Demand creates jobs. Always has. Always will. - ComradeAnon Fri, 26 Aug 2011 03:50:53 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/corporations-do-not-exist-to-create-jobs#comment-11054 Corporations don't exist to create jobs? What is this Whose Your Nanny, another creationist theory cloaked in the usual disguise of intelligently designed Social Darwinists? You do realize you just handed the election to Rick Perry don't you? Stupid liberals. - izzatzo Fri, 26 Aug 2011 03:27:07 +0100