It leads to a legal environment in which corporations are obligated to act like sociopaths.
I wish I could argue with you — I want to — but sadly you are right. That may have something to do with the recent trend of publicly traded firms to take the corporation back into the private sector. In essence that is what Warren Buffet and Berkshire-Hathaway does. Find a good well managed company that is not properly valued on the market, buy them out, leave the old management structure in place and still running the show. Shielded from the vagaries of the market those firms tend to thrive. I can show you four Berkshire Hathaway owned firms within five miles of my home here in Fort Worth in industries ranging from western boots, to construction bricks, and railroads. All are thriving and have excellent worker/management relations and only one has a union which is a fact of life in the railroad industry. So it can be done. It is Wall Street that is the joker in the deck.
Apple has threatened to buy back its stock and go private and frankly I hope they do.
