The Economy

With the amount of local, state and federal receipts that get handed over in taxes every year in this country (never mind the trillions of dollars of added yearly debt on top of it that has now become the norm), yeah, I do think we raise way more revenue than we should need to be able to maintain roads and bridges, etc., as well as providing other public goods we all generally want.

 

FYI, the CEO in this case is the founder of the company and the biggest shareholder in the company. And his salary already was low. The 10 percent share price jump on the news made him about a gazillion times more on paper than the $300,000 he forwent with the symbolic pay cut.

 

Bingo.

But in terms of the idiocy that America has morphed into, this one is really interesting. It's an environmental group that essentially is trying to stop Shell from producing and selling fossil fuels. But they realize that a, "You are destroying the planet" tort liability lawsuit of some sort gets dimissed without anyone noticing. So they approach it differently. ... "Oh, we are shareholders, and we are suing the directors for mismanaging the company and not investing in a new clean energy business for the future."

You're right that the ultimate outcome SHOULD be: "The BoD is elected by the shareholders, the way to express your discontent is at the annual meeting when you vote."

This kind of stupidity really hurts us all. Even the lawsuit against Elon Musk. ... everything those investors were saying Musk did was true. The thing is, the people suing him were high net-worth, experienced investors who were happy with Elon Musk's antics when it was driving up the price of the stock, but filed a frivolous lawsuit when his antics didn't work in their favor. They had no one to blame for their losses except themselves. ... it's like playing with fire and then suing when you get burned.

 

Apparently egg producers mysteriously decided not to be "greedy" and "gouge" people and unilaterally fix prices.