Forcing people to work and not pay them is slavery!
But I don't think I was wrong. Work is fundamentally a business transaction; I sell my time and expertise and they give me money and benefits. Ultimately for any job I've had, even jobs that I really loved, if they stopped paying me I'd stop showing up [1]. It's nothing personal, that's just the transaction that I agreed to.
If I had some bloviating wannabe-demagogue telling me that I should keep working and to not expect backpay, I am quite confident that I would quit, or at least keep calling in sick. I am not going to blame anyone who would do the same. I have no fucking idea why half the country voted for this.
[1] This has actually been tested for one job.
We never really fully recovered from that. We took away the power of employees in a high stress job to voice their concerns and needs which, as a result, made the job extra hard to hire for.
If you don't like it, working at a BigCo could be quite soul-draining.
It's like telling your girlfriend you're dating her because she's really hot. I'm sure that factored in, but she might get annoyed if that's the only reason you can come up with.
Shareholders can literally sue the management if they don't pursue the obligation.
BigCo
To Investors : We are in it for money. We will earn you money. It is money we dream, covet and will go to any lengths for. Ethics, Integrity, Truth, all those don't matter in the long term.
To Society : We do CSR, we are a good for society, we are ethical, we have integrity, we value society, we care much more than just money.
To Employees : We are family, if one of us is hurt everyone is hurt, we believe in work-life balance, we believe in fairness, equality, openness, transparency.
BigCo is a liar and a hypocrite.
We've had rivers catch fire because poisoning the water is profitable.
We all exist in a society. However, the people most likely to own businesses and be successful at it seem to have no moral qualms about harming society so long as it personally enriches themselves.
Actually good attitude often == not honest.
Our military is over extended, science has been flipped over and defunded, and that alone will settle it.
Now add unreasonable volatility from tariffs, and wait, give it time, wait some more until it’s impossible to unwind, then if we’re not in a major war, economy crashes, chaos ensues.
Again, to be clear, I said all this at the time.
I don't think the hot girlfriend analogy applies in this case; if I had a hot girlfriend and she stops being hot, if I liked her I probably wouldn't up and leave her. If a company stops paying, I will absolutely leave.
I have worked and done well at BigCos where they were a little less intellectually dishonest, so I don't actually think it's intrinsic to big companies.
He thought I was being extremely cynical (and I suppose I kind of was) and he disagreed with me.
About a year later, he felt screwed over by the company, and admitted that maybe I was right. I mentioned it is just a conclusion that nearly anyone comes to when working for the corporate world long enough.
It didn't occur to me that people would say I had a bad attitude because I did think that literally everyone I was talking to would agree and I didn't see why they'd be bothered.
My point is that if you go around and tell everyone at work that you're doing it because of the money, you're... not coming off particularly well? A statement like that comes off a bit odd and socially tone-deaf? And yes, I understand that it's true that you would quit your job if they stopped paying you, but things can be true and still not a great idea to say out loud. It can be an objective fact that my manager is ugly; it's not a good idea to say this during a meeting.
Anyone can sue anyone for anything. It’s not remarkable.
Now cite even a single case where shareholders sued and won. In reality, the “obligation” you are referencing has basically only ever been relevant in situations where the board or management is taking bribes. I’m not aware of any cases where shareholders won because the company was too nice to customers, the environment, or whatever.
For whatever reason, “shareholders” live rent free in the heads of Internet commentators, but it’s hard to understate their actual influence.
It wasn’t like I just blurted it out when people were deciding which database to use, it was relevant to the discussion. I can’t remember the exact conversation but IIRC we were having trouble hiring someone for a role and the topic of compensation came up. I felt my comment was relevant, and I genuinely didn’t even consider that people would have issue with it because I thought it was borderline tautological.
Try talking to a kid who used to be beat by their parents, at least the company is up front (usually).
https://www.npr.org/2024/02/29/1234358133/exxon-climate-chan...
Burwell v. Hobby Lobby Stores, Inc. - https://www.law.cornell.edu/supremecourt/text/13-354
> While it is certainly true that a central objective of for-profit corporations is to make money, modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else, and many do not do so. For-profit corporations, with ownership approval, support a wide variety of charitable causes, and it is not at all uncommon for such corporations to further humanitarian and other altruistic objectives. Many examples come readily to mind. So long as its owners agree, a for-profit corporation may take costly pollution-control and energy-conservation measures that go beyond what the law requires. A for-profit corporation that operates facilities in other countries may exceed the requirements of local law regarding working conditions and benefits.
> Among non-experts, conventional wisdom holds that corporate law requires boards of directors to maximize shareholder wealth. This common but mistaken belief is almost invariably supported by reference to the Michigan Supreme Court's 1919 opinion in Dodge v. Ford Motor Co.
Or
> Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate.
On the one hand, I've been saying this for two decades, in small and large cos. I've never been promoted in title, but I've also never been fired and generally been given more and more people to manage. I'm too direct and honest, but as I got older I learned to own it and do it smoothly without disrupting too much.
But the 'consultant mentality' helps me maintain my sanity, sleep a little better at night and never get married to a company. I wish I put my money where my mouth is, though, because peers who move every 2-3 years make significantly more than me despite being more junior.
On the one hand, the FounderSpeak about internalizing the job, loving what you do, and work life balance being bad business nauseates me... On the other hand, some of my high performing workaholic friends are not only richer than me, they seem like they're more purpose driven in their lives as their corporate jobs give meaning it doesn't give me.
It seems then that, for me, self-honesty and work life separation achieve less satisfaction and a lot less pay (and perhaps delayed early retirement).
That’s a mistake that business leaders have long since learned from. Wanna drop a billion dollars to add legs to your metaverse characters? Do whatever you want and just present a plausible argument that it serves shareholders. You don’t need evidence, any rationale is fine as long as you don’t explicitly state that you don’t care about shareholder value.
Another similar case might by something like eBay v Newmark, in that to the extent shareholders got relief it was because of things the business leaders said about shareholder primacy, rather than any actual actions taken by the company.
I guess that’s the real influence of shareholders: boards and executives can do whatever they want as long as when they talk, they don’t speak ill of shareholder primacy.
For latest example of a stupid lawsuit where this has happened, see Justin Baldoni v. Blake Lively. Baldoni sued Lively and others. After a lot of legal maneuvering, a judge dismissed the case.
But even if it was dismissed, it’s still a fact that Baldoni did sue Lively. You can sue anyone for anything. Doesn’t mean you will get any relief, but you can do it anyway, and in our age of dumb performative lawsuits, many do.