Best Of The Web
“American corporate law provides that boards of directors are chosen solely by shareholders, to whom the directors owe an exclusive fiduciary duty to maximize shareholder value. That simple proposition has generated benefits not only for shareholders but also for workers, suppliers, customers, bondholders and communities.
This historical success is not good enough for Massachusetts Sen. Elizabeth Warren. She believes that corporate boards should owe fiduciary duties to all these other “stakeholder” groups. She proposes to fix that supposed defect in the current legal setup through her Accountable Capitalism Act, which would mandate that every new and existing corporation with $1 billion or more of annual revenue obtain a federal charter.
That charter would come at a steep price. The corporation would be required to hold elections in which employees would fill 40% of board seats—enough to give them a blocking position on any major transaction. Similar protections could easily extend to other stakeholders.”
JJ Best Of The Web
"The bear market in crude has vastly different implications for the U.S. and euro zone. Also, fun with emerging markets and (in)efficient markets."
"That Trump would threaten California in the midst of this tragedy is, on its own, an act of cruelty. But his tweet was also plain wrong... there’s no dense forest surrounding the cities hit hardest by the fires."
"The integration of ultra-orthodox society into Israeli society at large and internal divisions within the ultra-orthodox world have caused many ultra-Orthodox Jews to vote for candidates in municipal elections who are not themselves ultra-orthodox.
"Lee isn’t just responsible for the super hero movies of Marvel and DC, but his influence can be felt in Star Wars, Star Trek, Raiders of the Lost Ark, and dozens of blockbuster franchises."
"Each year, local governments spend nearly $100 billion to move headquarters and factories between states. It’s a wasteful exercise that requires a national solution."
"The futurist philosopher Yuval Noah Harari thinks Silicon Valley is an engine of dystopian ruin. So why do the digital elite adore him so?"
"Should the acquired item prove absolutely useless, as its original owner clearly felt it to be, there is always something else to do with it, provided one has ingenuity, a high tolerance for clutter, and, ideally, a range of demented enthusiasms."
"If it were true that novelists needed “quietude, time and space” to produce novels, Preston would be right to declare a state of crisis. But Bellow wrote his first novel while serving on a merchant marine ship during the Second World War."
"It’s an all too common story. Each Veterans Day, Americans recognize our active-duty military and veterans. We should also recognize their spouses."
"They’ve been maligned in nutrition circles for decades, with links to obesity, Type 2 diabetes and cardiovascular disease. But they’re also highly satisfying and provide many essential nutrients."
"Arguing that our current understanding cannot rule it out, Hawking, it seems, was cautiously optimistic. So where does this leave us? We cannot build a time machine today, but could we in the future?"
"Shiva was unfamiliar to me, and required asking a lot of questions. I grew up without formal Jewish education, so I didn’t know the rules. I wasn’t sure if I was “supposed” to observe the rites since my dad wasn’t Jewish..."