For 400 years, directors of British companies have worked for a company's shareholders. That will change if a proposed 780-page bill becomes law. That bill mandates that "A director must (so far as reasonably practicable) have regard to the likely consequences of any decision in the long term, the interests of the company's employees, the need to foster the company's business relationships with suppliers, customers and others, the impact of the company's operations on the community and the environment." Many business leaders and corporate lawyers say that would make directors answerable to other "stakeholders"—employees, environmentalists, political activists— whose interests may conflict with those of shareholders or other stakeholders. And the bill doesn't even create a hierarchy to direct directors whose interests take precedence. They say the bill will bring board decisionmaking to a halt and discourage people from becoming directors.
Paul Krugman Thinks Holding Religious Services During the COVID-19 Pandemic Is Like 'Dumping Neurotoxins Into Public Reservoirs'
The New York Times columnist misconstrues the issues at stake in the challenge to New York's restrictions on houses of worship.
SCOTUS Blocks New York's COVID-19 Restrictions on Houses of Worship, Saying They Are Not 'Narrowly Tailored'
Gov. Andrew Cuomo described his policy as a "fear-driven response," cut by a "hatchet" rather than a "scalpel."
Penguin Random House Employees Broke Down in Tears at Thought of Publishing Jordan Peterson's Next Book
"He is an icon of hate speech and transphobia."
Denver Mayor Michael Hancock Urged People Not To Travel for Thanksgiving Shortly Before Boarding His Flight
The mayor is traveling to Mississippi to spend the holiday with his wife and daughter.