Comic Strips

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Comic Strips is a community for those who love comic stories.

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billionaireman (quokk.au)

submitted 7 hours ago by Deceptichum@quokk.au to c/comicstrips@lemmy.world

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[–] rockSlayer@lemmy.blahaj.zone 13 points 5 hours ago (3 children)

And we know that this is fiction because fiduciary duty means he'd immediately get fired and sued for turning around the company

[–] marcos@lemmy.world 3 points 1 hour ago (1 children)

He immediately got fired and sued. Have you watched the movie?

[–] AEsheron@lemmy.world 1 points 1 hour ago (1 children)

No he doesn't? He gets sidelined for a while, which he doesn't fight because he's dostracted. Never gets sued. The second movie starts with a hearing where the gov is trying to acquire his new weapons, but it's not a lawsuit and has nothing to do with the company.

[–] marcos@lemmy.world 2 points 1 hour ago

He gets sidelined for a while

So, tell me how he gets sidelined.

[–] peopleproblems@lemmy.world 4 points 2 hours ago (1 children)

Fiduciary Duty is a lie created in the 80s to make corporate raiders more appealing.

[–] glitchdx@lemmy.world 2 points 1 hour ago (1 children)

Look up Dodge v Ford. This case set the precedent for what is now known as fiduciary duty.

[–] peopleproblems@lemmy.world 4 points 1 hour ago

They discuss it in the wiki article:

Dodge is often misread or mistaught as setting a legal rule of shareholder wealth maximization. This was not and is not the law. Shareholder wealth maximization is a standard of conduct for officers and directors, not a legal mandate. The business judgment rule [which was also upheld in this decision] protects many decisions that deviate from this standard. This is one reading of Dodge. If this is all the case is about, however, it isn't that interesting.

[–] Grail@multiverse.soulism.net 14 points 5 hours ago

Actually, Tony, Pepper, and Obadiah together owned more than half of the company's stock. Obadiah would have needed virtually ALL of the other shareholders to agree to such a lawsuit, and he decided to use violence instead of bothering with the headache that would have been. After he died, anyone trying to do the same would have needed to get Ezekiel Stane on board, while Tony and Pepper were consolidating their control over shares and offering a lot of money for anyone who wanted to cash out of SIA while it was still worth something. So yeah, Tony stopped that from happening by being good at business, it wasn't just plot armour.