Ford Couldn’t, But You Can: Hybrid Corporations for Social Goals
By: Casey Edmondson
Henry Ford was not used to hearing “no.” But that is what the Michigan Supreme Court told him in 1919, when Ford tried to reinvest huge capital reserves of Ford Motor Company into wages and new facilities instead of shareholder dividends. Despite the “business judgment rule” that ordinarily prevents courts from overturning lawful business decisions, the Court did just that, finding that Ford altogether ignored the principle of maximizing shareholder value. Since this famous decision, business leaders have accepted shareholder value as the north star.
Next Legal Education Seminar: Bank Fraud in the Cyber Age - August 23rd
This program is the definitive source for practical strategies to reduce your bank’s risk of loss from fraud and cybercrime. Don’t miss this unparalleled opportunity to learn how to minimize fraud loss exposure and ensure that your bank is prepared to react immediately to a worst-case scenario.
2017 Super Lawyers Awards Announced
Seven Friedemann Goldberg attorneys were recently honored as Super Lawyers and Rising Stars by SuperLawyers Magazine for 2017. Partners John Friedemann, Steven Goldberg and Ronald Wargo were honored as Super Lawyers by the publication, an honor reserved for less than 5 percent of attorneys in a region.
Associate attorneys John MacLeod, David Meeker, Mia Shirley, and Christopher Haws were named Rising Stars by the magazine, which honors lawyers who are under 40 years of age and exhibit great skill and professionalism in their areas of practice. This award is given to less than 2.5 percent of attorneys in a region.