“There are a lot more people out here living in abject poverty than what people like to think or admit to. You voted for this—and now we’re paying the price.”
Employees learned of the cuts on Monday in a video message from Michael Adams, CEO of BlueOval SK.
Adams announced the transition would mean “the end of all BlueOval SK positions in Kentucky.”
That’s not how the shareholder theory of value works. Companies have wide latitude in how they pursue profit, including being able to focus on the long term over the short term. As a shareholder, the only way you’re winning a lawsuit against a publicly traded company for not seeking profit is if they do something insane to deliberately lose money. Like if the CEO gathers up a billion in cash and holds a literal money bonfire. That’s what it would take for you to actually be able to sue a company for not seeking maximum profit.
Right, but it means they cannot ignore their own analysis just because it feels right.