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IS IT ETHICAL FOR CEOS TO USE STOCKHOLDER'S MONEY TO SUPPORT THEIR CAUSES?

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IS IT ETHICAL FOR CEOS TO USE STOCKHOLDER'S MONEY TO SUPPORT THEIR CAUSES?


[+] serious ballot by cranky
ACTIVE Thu Jan 11, 07 - Tue Oct 06, 09

It's a common practice for CEOs and other corporate executives to use company funds (money that actually belongs to the stockholders) to fund politicians and political causes they THEY support, without regard for the beliefs of the stockholders.

For example:

WASHINGTON — Exxon Mobil Corp. gave $16 million to 43 ideological groups between 1998 and 2005 in a coordinated effort to mislead the public by discrediting the science behind global warming, the Union of Concerned Scientists asserted today.

The report by the science-based nonprofit advocacy group mirrors similar claims by Britain's leading scientific academy. Last September, The Royal Society wrote the oil company asking it to halt support for groups that 'misrepresented the science of climate change.'" (AP)

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Is it ethical for corporate executives to use stockholder money to fund political activities that may be opposite of the beliefs of a large percentage of the stockholders of that corporation?

Yes
No
Depends


Ballot #111055 : SEE RESULTS

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COMMENTS:
Voted : No
Of course not. Does anyone think that they became CEOs by being ethical?

"Behind every great fortune is a crime." - Balzac
by _Beelzebubba on Thu Jan 11, 07 9:00am [+]

Voted : Depends
If it is being invested in a project with a greater NPV than any alternatives, of course. As long as it does not violate human rights. It's the CEO's job to maximize the NPV of investments. CEOs should maximize NPV without regard to their own political ideology.
by MrTroche on Thu Jan 11, 07 12:25pm [+]

Voted : No
But what would these bastiches know about ethics?
by Truthseeker013 on Thu Jan 11, 07 1:19pm [+]

Voted : No
It's legal, but that doesn't make it ethical.
by Guest User from [68.83.248.130] on Thu Jan 11, 07 4:07pm [+]






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