Corporations
Why is everyone surprised that corporations have turned out to be so anti freedom? So woke? So everything that goes against the intentions of our original US Constitution? I certainly am not! The whole premise of incorporating is to get out of being accountable, liable and responsible for your business. So why are we shocked when they become irresponsible?<br> Ayn Rand did not particularly care for corporations either. In Atlas Shrugged, Dagney wanted nothing to do with the Board of Directors of Taggert Transcontinental, Inc. She considered them slimy, repulsive and left Jim to handle them. She knew they had no idea of how the industry worked. But she accepted them as a necessary evil in a dysfunctional world.<br> And in the Valley, there were no businesses with Inc at the end of them. All of the businesses proudly held the name of their creator.
Not that the new ESG rubber stamp mantra will make them any more responsible. They will continue to pollute, push out small competitors and steal from the little guy, while receivng applause for "going ESG." Libtards.
for the connections they have in banking, other companies, or governments.
The majority of boards have no direct experience in the running of the
company on whose board(s) they sit.
In Rearden's case, there were few outside his company he could trust to
even think, much less act to any advantage for his company.
Those who could think and would be trustworthy had their own
companies to manage (also without anyone to help.)
Note that every time Dagny wanted to promote someone competent
they had been turned by Galt. Ditto for anyone who competently
ran a business Dagny needed for support.
The very nature of business puts experienced directors in a conflict of
interest in their role as a director of another company. People in finance,
in particular, use their position as directors to destroy small companies
in favor of other larger customers to enrich themselves.
Boards are often as useful as governments.
Often, the genius who started a company and produced great products
is ousted by the company board for refusing to sacrifice quality for
profit. Profit the board requires to make their stock options valuable,
or to pay debt service that the board took on to enrich themselves.
How do you differentiate between board of directors and trusted leaders?