Recent Headline Shows Where Woke Can Make You Broke as a “Group Of Top CEOs Says Maximizing Shareholder Profits No Longer Can Be The Primary Goal Of Corporations”
Are these “comforting” words to the woke folks or are they a cause of concern to retirees or those approaching retirement?
And where do the “investors” fit in? Those in the earlier non-retirement stages of building their retirement futures as well as those who have money, big money?
Here is the story (with full link below):
“A group representing the nation’s most powerful chief executives on Monday abandoned the idea that companies must maximize profits for shareholders above all else, a long-held belief that advocates said boosted the returns of capitalism but detractors blamed for rising inequality and other social ills.”
What seems to matter would be a. how much equities you have”; b. How immediate is your need (eg. close to retiring”; and c. How dependent are you on the retirement funds?
Although these three factors are big (and there are other ones too), the single, biggest emotional and financial kicker centers on the world of “I’m on a fixed income”.
So, I say to those arrogant, woke, and hip heads of companies “Remember this! You are not the owners, we are! You represent us! You are fiduciaries! Shareholders/owners come first, but do not ignore the needs of the workers. However, take a close look at YOUR income, your golden parachutes, your stock option plans FIRST!!!”