Instapundit makes the point that the officers and directors of a corporation have a fiduciary duty to the corporation’s shareholders, that is, they have a duty to act in the best interests of the shareholders. It’s a point that I have brought up before.
Businesses entities (which is what corporations are) exist to create value for their owners (i.e., the shareholders) by delivering goods and services. It’s that simple. They have no other purpose.
I’m not going to link directly to the item linked in that Instapundit post, because the item is, frankly, tripe. Publicly-owned corporations have no “political responsibility.” They have a legal responsibility to maximize return on investment to their shareholders. Corporate sensitivity to social concerns can be justified legally only if it results in a better return on investment to the shareholders.
The contents of this blog, this web site, and any writings by me that are linked here, are all my personal commentary. None of it is intended to be legal advice for your situation.