The facade of the Bank of America Plaza Building in Los Angeles is shown earlier this year. The company’s CEO was among 181 signatories on the Business Roundtable statement released Monday. The organization representing the nation’s most powerful chief executives is rewriting how it views the purpose of a corporation, updating its decades-old endorsement of the theory that shareholders’ interests should come above all else. The new statement, released Monday by the Business Roundtable, suggests balancing the needs of a company’s various constituencies. It comes at a time of widening income inequality, rising expectations from the public about corporate behavior, and proposals from Democratic lawmakers that aim to revamp or even restructure American capitalism. “Americans deserve an economy that allows each person to succeed through hard work and creativity and to lead a life of meaning and dignity,” reads the statement from the organization, which is led by JPMorgan Chase CEO Jamie Dimon. While the statement represents at least a symbolic change in the group’s thinking, it was not clear how or whether companies would change their practices, nor how any changes in behavior would be assessed or monitored. The statement includes signatures of 181 chief executives out of 192… Read full this story
- NASA's newest mission, ICON, expected to launch tonight
- Tesla CEO Elon Musk Stuns Investors With Tweet to Take Carmaker Private
- US Navy Aims to Track Enemy Subs With Gene-Modified Marine Organisms
- 2028 Moon Mission Pitched at US National Space Council Meeting
- Renault board to meet, as CEO denounces potential exit as 'coup'
- US mission wants to remove “gender” from UN documents
- Czech Ex-FM Under Fire for Slamming NATO Mission in Afghanistan
- Mission: Impossible – Fallout, Orange Is the New Black, and More – The Weekend Chill
- US downgrades its Jerusalem mission to Palestinians
- NASA's newest mission, ICON, to launch Thursday
CEOs modify mission statement have 308 words, post on www.arkansasonline.com at August 20, 2019. This is cached page on Business Breaking News. If you want remove this page, please contact us.