It would seem worthwhile for the faculty and students of Harvard Business School to ask whether maximizing shareholder value – a convenient goal now that so many CEOs are paid with stock options – continues to be the proper goal for the modern corporation.
Several Arab states have offered to conduct airstrikes against militants in Iraq alongside the efforts of the United States, U.S. officials said Sunday as the Obama administration sought to bolster its case for action against the Islamic State. U.S. officials would not identify which nations made the offers.
Detroit’s stiffest bankruptcy opponent – a bond insurer called Syncora – reached a comprehensive settlement with the city of Detroit and issued an apology for accusing bankruptcy mediators of “naked favoritism.” Detroit is now within a stone’s throw of achieving an amicable resolution to its Chapter 9 bankruptcy.
The United States announced more sanctions against Russia on Friday, affecting oil and defense industries and further limiting the access of major Russian banks to US debt and equity markets to punish Russia for its intervention in Ukraine. The sanctions were timed to coincide with new European Union economic penalties.
According to a report from the Economic Policy Institute, wage theft is a big problem in America. It’s costing some of our lowest-paid workers a lot of money and helping to make inequality worse. Congressional action to address the issue could help a lot of vulnerable people. But will lawmakers act?
Some good environmental news for a change: Evidence has indicated for some time that the ozone layer is recovering, and now the United Nations has announced that officially. The ozone layer has not been restored to perfect health – that will take a few more decades – but a significant corner has been turned.