No, I don’t think so. CEOs don’t just make these decisions for strictly monetary gain. Otherwise literally every company would be constantly conducting layoffs or whatever short-term tactics to push the stock up so the C-Suite could cash in.
The BoD and shareholders absolutely do have clout in company decisions, mostly large shareholders pressuring the BoD, but the a smaller shareholder selling off and helping tank stock value has power as well though unfortunately they’re usually the last to get their order in.
Would some CEO knowingly start pulling strings to maximize short term gain and sell off assets to make a buck on a company that’s not doing well? Sure. Happens all the time, Sears comes to mind as a fairly recent company that got fucked over for a buck. Toys’r Us too. But those companies were in real trouble. If Best Buy goes that way you’ll know it.
Maeve@kbin.social 7 months ago
That's not true. Running businesses into offshoring/ankruptcy is very profitable.
RememberTheApollo_@lemmy.world 7 months ago
Ok, maybe I wasn’t clear. Usually a company is already in some sort of trouble when the vultures descend on it. That was the point I was trying to include in what I said.
Yes, absolutely, disassembling a company and offshoring is profitable.