Re: Oracle's Mission Statement

"Daniel Morgan" <damorgan_at_x.washington.edu> wrote
> J Alex wrote:
> > Did you read the case you cited? It is related to someone acting in his
> > interest, not his company's. Singer was acting as GAMC's agent by taking
> > orders for them, but then he subcontracted some of those orders out to
> > GAMC's competitors and personally pocketed the profit without telling
GAMC.
> > This has nothing to do with a CEO being legally obligated to maximize
> > shareholder value.
> >
> > As you didn't cite a statute and the court case you cite is not
relevant, so
> > I can only guess that the reason you did not cite such a statute is that
you
> > could not find one.
>
> Actually I pulled out my copy of Black's which is the only book I have
> left from those days. I practice computing not law.
> However since you
> wish to get into some kind of nonsense over this

Actually, no. I was just correcting your misstatement.

> as opposed to paying
> legal counsel try the following from a Securities & Exchange Commission
> web site and I quote:
>
> "... that corporations are expected, wherever possible, to integrate
> extrinsics with the corporation's primary obligation to maximize
> shareholder value."

Interesting that you didn't post the link. Is it because the full quote is: "This author contends, however, that corporations are expected, wherever possible, to integrate extrinsics with the corporation's primary obligation to maximize shareholder value."
In other words, this is someone's opinion, not a statute. And, of course, it is not at all a defense of your original statement that Larry Ellison and Bill Gates have to make every attempt to grow their companies or they're breaking the law.

>
> That is the end of this thread for me. If you want more hire an attorney
> as I will ignore this off-topic thread from here on.

LOL. As I've seen in previous threads, you're more than happy to go OT. Received on Mon Dec 08 2003 - 20:26:22 CST