Devils_Advocate Posted January 8, 2010 Report Share Posted January 8, 2010 "...He owed a certain duty to his stockholders, didn't he?" - Lillian Rearden "I own a piece of his god damned newspaper!" - Some pawn of Thooey's Ayn Rand seems very degradational of shareholder's rights, as their called, pinning quotes like the above (as well as a few others I can't remember) to the villains. Can someone explain exactly what her beliefs on this issue were? Quote Link to comment Share on other sites More sharing options...
tito Posted January 8, 2010 Report Share Posted January 8, 2010 Clearly, she wasn't in favour of legislating them out. The shareholders are entitled to whatever rights they have contractually obtained. However, both of those examples are when the industrial giants are being (or are potentially being) held down by committee. For example, if a board of directors had said to John Rockefeller "Nah, putting oil in wine barrels is the way we've always done it. We won't let you change it" - obviously it would be in nobody's interest, since this was one of the things Rockefeller did to revolutionise the industry and make a fortune. Even if no rights were violated, it still wouldn't be a good outcome. Another example is Dagny not running everything past the Taggart Transcontinental board of directors. Quote Link to comment Share on other sites More sharing options...
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