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To: long-gone who wrote (63550)2/8/2001 10:09:44 PM
From: goldsheet  Read Replies (1) | Respond to of 116791
 
<<Firms tend to do what they think is in their own best interest, not what benefits the industry. >>

> And you mentioned nothing of in the best interest of their investors?

Most "politically correct" firms has a nice paragraph in their glossy annual reports where their best interests are defined as the best interest of their "stakeholders" which can include management, employees, creditors, the environment, and even shareholders. It is tough to keep shareholders happy when creditors currently seem to have the upper hand - such as the bankers requiring Harmony to buy puts to get their loan.