Trump promised voters tariffs are a panacea for the economy, but Walmart finance chief John David Rainey warned they will be inflationary for customers.
94% of Bosch is owned by the Robert Bosch Stiftung GmbH, which is a charitable organization. They take a significant fraction, nearly half, of the profits not reinvested back into the company or distributed to founding family members and use the money for philanthropic purposes. And for the record, the portion distributed to heirs is comparatively tiny, like a quarter of a percent overall.
Most of the profits are indeed reinvested back into the company, but for the purposes of R&D and keeping the lights on, not appeasing shareholders.
Very cool and good to know. Makes me feel better about those fucking buy it for life wiper blades I just spent too much money on. I’d argue still profit motivated but sounds like a relatively good company given capitalism.
Edit: big woof – they apparently wrote, maintained, and distributed the fake-emissions-reporting systems used by VW and others. If thats not profit motivated then I don’t think I can trust anything. Founder was a big trump supporter too, the wiki says Bosch parts were in every maga tank in the 1940s.
OP’s right. Sorta. Partially. OK, you’re right, it was a simplistic take.
Where people get it wrong is that that duty is not written in stone, and certainly not in the law or courtroom. The “duty” is more like, “Don’t fuck us financially on purpose or through incompetence.”
The CEO of my last company told the board, 2-years in a row, that he intended to lose money while we ramped up personnel and improved our products. They applauded him. We fucked up and made record profits instead. LOL. We all got fat(ter) Christmas bonuses.
(Lemmy will not believe that with a solid, non-greedy leader (a.k.a the useless CEO), a company can treat customers like gold, treat employees like gold and still make money.)
I think the problem is that people assume every business in america has their first priority as making as much money as possible. The fact non-profits exist should be a clue they are wrong, IMO.
Can you provide a list of companies that are not profit driven?
Here is my list:
Migros, in Switzerland. Literally a non profit chain of supermarkets. It can happen.
Also Bosch, technically, in a weird and roundabout way.
Im calling bs on that one
94% of Bosch is owned by the Robert Bosch Stiftung GmbH, which is a charitable organization. They take a significant fraction, nearly half, of the profits not reinvested back into the company or distributed to founding family members and use the money for philanthropic purposes. And for the record, the portion distributed to heirs is comparatively tiny, like a quarter of a percent overall.
Most of the profits are indeed reinvested back into the company, but for the purposes of R&D and keeping the lights on, not appeasing shareholders.
Very cool and good to know. Makes me feel better about those fucking buy it for life wiper blades I just spent too much money on. I’d argue still profit motivated but sounds like a relatively good company given capitalism.
Edit: big woof – they apparently wrote, maintained, and distributed the fake-emissions-reporting systems used by VW and others. If thats not profit motivated then I don’t think I can trust anything. Founder was a big trump supporter too, the wiki says Bosch parts were in every maga tank in the 1940s.
… what is a maga tank…?
The ones with the weird crosses with bent arms and lightning bolts on the side.
Legally, it’s the fiduciary duty of any publicly traded corporation to seek higher returns every year for their shareholders.
So… yeah, that list will effectively stay empty.
I like your propaganda. Its quick and easy, but wrong. Check your sources.
OP’s right. Sorta. Partially. OK, you’re right, it was a simplistic take.
Where people get it wrong is that that duty is not written in stone, and certainly not in the law or courtroom. The “duty” is more like, “Don’t fuck us financially on purpose or through incompetence.”
The CEO of my last company told the board, 2-years in a row, that he intended to lose money while we ramped up personnel and improved our products. They applauded him. We fucked up and made record profits instead. LOL. We all got fat(ter) Christmas bonuses.
(Lemmy will not believe that with a solid, non-greedy leader (a.k.a the useless CEO), a company can treat customers like gold, treat employees like gold and still make money.)
I think the problem is that people assume every business in america has their first priority as making as much money as possible. The fact non-profits exist should be a clue they are wrong, IMO.