re: Tucker’s Segment on Paul Singer and Sidney,NE

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Greed is an insult to God and in my opinion a good reason to deny a place in Heaven.

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Man can not serve both Mammon and God.

That is not to say, of course, that wealth is inherently bad, or the pursuit of profit. It is placing these very useful things and drives above all else that creates broken, hungry men in more ways than one.

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the never-ending pursuit of shareholder returns

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Management was one of my Minors and I argued constantly with my proffs about the core philosophy (management should seek to maximize shareholder wealth) being too generalized. This lack of framework in the philosophical foundation leads many in management to take the lazy track: generate more wealth by cutting as many corners as possible, right up to the point where it impacts sales.

From little things that help keep up employee moral up that management is often quick to go after (like free coffee in the break room, decent toilet paper in the bathrooms, etc) to lowering the quality (using a cheaper plastic that's more brittle, for example), management types who are nothing more than short-sighted bean counters are the types who end up taking a solid company and screwing it up. They make money while the company falters.

Part Two was on tonight.

Ben Sasse released a rather weak response on the story; Tucker went into it, with a guest.


Article regarding last night:
TUCKER: Hedge Fund Managers Like Ben Sasse Donor Paul Singer Are Destroying Middle America

Took a lot of management courses at LSU. Usually got in a disagreement with the professors. Having worked for a major corporation and then running my own company what I see is that larger corporations manage quarter to quarter and are slaves to quarterly earnings. A smaller company will take a longer view, at least i do and then try and balance the company so that we are fair to all. We try to take into consideration our customers, our employees, our vendors and our community. Balancing those 4 aspects of our business responsibility has given us results far exceeding my expectations.

I get the obligation the company has to the shareholders but there are additional obligations which should, from an ethical and moral standpoint be addressed. In the long run I think this is the best approach. Balance and fair to all is our motto.

I agree with your general point about short-sighted profit making, but...

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They make money while the company falters.

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... is NOT maximizing shareholder value.