Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
I may believe in something, but if it is not working and is not giving returns, we have to close it down because that is the right thing to do for the shareholders.
Fannie Mae is owned by shareholders but operates under a federal charter that exempts it from paying state or local taxes. As a result, many professional investors think the government would repay the debt that Fannie Mae had issued if the company could not, although Fannie Mae explicitly says that its bonds do not carry a federal guarantee.
Some companies use off-balance-sheet partnerships to raise money or to buy assets without ever telling their shareholders in their financial statements.
Regarding our links with the Russian government, Severstal is a private company with no government participation. We are answerable to our shareholders.
I'm going to continue doing my thing and work my butt off to add value for shareholders and as long as they and the board see fit to keep me in this role, I feel enormously privileged to serve.
Everyone is now praying at the altar of every last dollar of profits to please shareholders. If you invest in your people and treat them well, it's a different way to increase profits.