A Quote by Michael Moore
Our laws demand that a corporation have a fiduciary responsibility with shareholders to maximize profits. They are legally required to make as much money as possible, any way possible within 'the law.'
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Companies that are publicly held have a fiduciary duty to their shareholders to try to maximize their profits within ethical reasons.
HCL is a corporation. It is for profits. A corporation stands for its shareholders, its profits, its employees, its discoveries, and its customers.
So the question is, do corporate executives, provided they stay within the law, have responsibilities in their business activities other than to make as much money for their stockholders as possible? And my answer to that is, no they do not.
The British use a system where the profits a corporation reports to shareholders is what they pay taxes on. Whereas in America we require corporations to keep two sets of books, one for shareholders and one for the IRS, and the IRS records are secret. For publicly-traded companies, the British system would tend to align the interests of the government with the interests of the company because the company wants to report the biggest possible profit. Though, all wealthy countries have high taxes as wealth requires lots of common goods, from clean water to public education to a justice system.
The unhappy theory of business ethics is this: you have a fiduciary responsibility to maximize profit. Period. To do anything other than that is to cheat your investors. And in a competitive world, you don't have much wiggle room here.
Say you're an American novelist, published by the largest publishing house in the world. Their goal is to make as much money from you as possible, to have as many people read your book in as many formats as possible. How can you hope to speak intimately to the numbers of people that represent the book sales required?
Few trends could so thoroughly undermine the very foundations of our free society as the acceptance by corporate officials of a social responsibility other than to make as much money for their stockholders as possible.
It has become clear that the function of a private health insurance is to make as much money as possible. Every dollar not paid out in claims is another dollar made in profits for the company.
The whole question of fiduciary responsibility is a very old concept. You could make a movie about someone making that rule at any point in history, and within a few months, it will turn out to be timely.
Can we please agree that in the real world, corporations exist for one purpose and one purpose only - to make as much money as possible, which means cutting costs as much as possible?
What is my intention being a filmmaker? To make as much money as possible, or get as much attention as possible? It's not really either of those things. Now I can tell the stories that I want to tell.
We need to do whatever we can, legally and within our power, to remove Donald Trump from office as fast as possible before something serious happens in this country.
We have an obligation and a responsibility to be investing in our students and our schools. We must make sure that people who have the grades, the desire and the will, but not the money, can still get the best education possible.
I have established Laws in the universe that make it possible for you to have-to create-exactly what you choose. These Laws cannot be violated, nor can they be ignored. You are following these Laws right now, even as you read this. You cannot not follow the Law, for these are the ways things work. You cannot step aside from this; you cannot operate outside of it.
I try to build on our management philosophy. I try to understand what the threats and opportunities are for us. Uh, I try to make sure that we're driving innovation and creative destruction hard enough so we're not blindsided, and that our attitude is to, in starting any initiative, any business, is to focus on how we can create value for others, rather than how we maximize profit, because you can make money focusing on, "How do I maximize profit?"
I do not plan in any way to whitewash my sin. I do not call it a mistake, a mendacity; I call it sin. I would much rather, if possible - and in my estimation it would not be possible - to make it worse than less than it actually is. I have no one but myself to blame. I do not lay the fault or the blame of the charge at anyone else's feet. For no one is to blame but I take the responsibility. I take the blame. I take the fault.
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