This story and accompanying press release is from 19th August, it’s notable somewhat for the timing and other aspects. Here is an example of the reporting.
A statement issued Monday by the Business Roundtable, a leading group representing CEOs that is chaired by JPMorgan Chase chief Jamie Dimon, puts shareholders on more equal footing with others that have an interest in a corporation—so-called stakeholders that includes workers, suppliers, customers and communities.
“Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity,” the statement reads.
First, and correct me if I am wrong, but are these CEO’s essentially outing themselves as being in breech of their legal obligations to shareholders by favouring other parties they share no legal obligations?
Second, it’s the timing that strikes me, pre-emptive damage limitation much? - “We know the markets are about to tank but we’re worth a lot more to you than mere stocks and you’ll thank us for sticking around and helping ye all through the thick and thin (sub-subtext: you can not live without us so get use to it)”
Thirdly, haven’t we seen this somewhere before?