Never mind that a famed company has been dismantled to pump the stock for a few years (and how long it took is a testament to its former excellence).
https://www.amazon.com/Flying-Blind-Tragedy-Fall-Boeing/dp/0...
Never mind that a famed company has been dismantled to pump the stock for a few years (and how long it took is a testament to its former excellence).
https://www.amazon.com/Flying-Blind-Tragedy-Fall-Boeing/dp/0...
We live in the stupid times. After watching others get rich off of Bitcoin, GameStop, and companies with fantastical valuations, everyone wants it to go the Moon ASAP.
There are shareholders who care explicitly about long-term (at least 20~30+ years) profits. These are investors who are investing for retirement. The problem here is most of them hold index funds or have the money managed by a third-party, so they are indirect shareholders who may or may not have voting rights themselves and may not care to vote in the first place. Bogleheading is explicitly about not giving a damn, after all.
The shareholders who hold stocks directly may or may not care about long-term profits. Investors holding for retirement do, though whether they would vote is anyone's guess. Traders don't care who or what the stock is, all they care about is whether they turn a profit in the next second. Investors holding for income today (read: dividends) care about short-term profits, though again whether they vote is anyone's guess. Shareholders who hold for biased reasons ("I love <company>!") will probably vote, but whether they care about profits at all is anyone's guess.
Anecdata: I hold Boeing stock (BA) through SWPPX which is an S&P 500 index mutual fund. Most of my interest is returns in about 20 to 30 years' time when I reach retirement age. I do not have voting rights as far as I am aware, and frankly I can't be arsed to care about voting.
It's outside my bailiwick and I'm not quite sure how it happened, but it seems to me that over the course of a few decades (70s to 00s?) we went from a model of corporate management where the various mechanisms of "cripple the company for the short-term benefit of upper management (plus a few well connected others)" were neither sophisticated nor, well, thinkable, or at least not acceptable, to one where both the ability and the practice of doing so are near-ubiquitous.