Mark Zuckerberg Is the Most Powerful Unelected Man in America

from NYTs On Thursday, Facebook’s chief executive, Mark Zuckerberg, announced the company’s “New Steps to Protect the U.S. Elections.” They include blocking new political ads in the week leading up to Election Day and attaching labels to posts containing misinformation, specifically related to the coronavirus and posts from politicians declaring victory before all the results are counted. One can — and many will — debate just how effective these measures will be at preventing election night chaos during a pandemic. (So far Facebook’s “misleading post” labels are vague to the point of causing additional confusion for voters. Similarly, blocking new […]

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Shareholder Value Is No Longer Everything, Top C.E.O.s Say

from NYTs Nearly 200 chief executives, including the leaders of Apple, Pepsi and Walmart, tried on Monday to redefine the role of business in society — and how companies are perceived by an increasingly skeptical public. Breaking with decades of long-held corporate orthodoxy, the Business Roundtable issued a statement on “the purpose of a corporation,” arguing that companies should no longer advance only the interests of shareholders. Instead, the group said, they must also invest in their employees, protect the environment and deal fairly and ethically with their suppliers. “While each of our individual companies serves its own corporate purpose, […]

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Game Changer: Delaware, Home to Fortune 500, Passes Benefit Corporation Law

from Shareable Last week, Delaware initiated what is being called a “seismic shift” in corporate law by enacting benefit corporation legislation (Senate Bill 47). Unlike corporations whose sole purpose is to maximize shareholder value, public benefit corporations (PBCs) are for-profit corporations designed to work in a socially and environmentally responsible manner. From their creation, PBCs strive to create a positive impact on the environment and society, they take into account factors besides profit when making decisions, and they make public their social and environmental performance. Already, 18 states plus D.C. have passed benefit corporation legislation. So what’s the big deal […]

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