Like many corporate law teachers, I have mixed views about the old chestnut of Dodge v. Ford. On the one hand, it’s very quotable. On the other, shareholder wealth maximization is a normative goal, not a rule with teeth. Still you go to war with the data you have.
Now we’ve more data – useful for an exam fact pattern, at least! An alert student (thanks, C.M) found this choice quote in a recent interview of Wholefoods CEO John Mackey:
“JOHN MACKEY: I think that Whole Foods does have higher purposes. We take them very seriously. We don’t exist primarily to maximize profits.
We’re fulfilling the mission that we set for ourselves of helping people to live healthier lives, to hopefully reverse this obesity [...]
Via Concurring Opinions