General Discussion
In reply to the discussion: Donald John Trump is unwell. He is physically and mentally unstable. [View all]PatrickforB
(14,608 posts)on its online articles, and one time I disagreed with their reporting because it seemed untrue.
So I posted that the NYT's editors have no real fiduciary responsibility to truth in news because of the doctrine of Shareholder Primacy, which began in 1919.
The NYT did not approve that post and so it never showed. This is one of only a handful of times when one of my comments was not published. The Times allows me to rail against Shareholder Primacy when I am commenting on some other corporation, but not their own shop.
For your reference, the NYT is listed on the NYSE and is currently trading at $48 per share.
Just saying. This is why you need to go to other sources for the real truth. The largest institutional shareholders include Vanguard Group Inc, BlackRock Inc., Farallon Capital Management Llc, Stockbridge Partners LLC, ValueAct Holdings, L.P.
Meredith Kopit Levien is the NYT CEO. She has a net worth of $13.5 million, and 'earned' $7.5 million in 2022.
To repeat, her ONLY fiduciary responsibility as CEO of NYT is to generate profits for shareholders. That is it. She is not responsible for truth in news, for worker welfare, for consumer welfare or the environment. Only PROFITS.
And you know, I have been thinking long and hard about this, and the fulcrum whereby we could force publicly traded media organizations to publish truth in news would be to overturn the Shareholder Primacy doctrine and replace it with a stakeholder approach to governance whereby truth in news, worker and consumer interests and the environment are held equal in importance with shareholder profits. If we made this seemingly minor change in the rules, and then enforced it, the public would be in for a real awakening.