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  • Writer's pictureNewsreel

People Over Profits?

The Primary: Members of the Business Roundtable, a group of 181 of the U.S.' top business leaders, met and agreed shareholder value isn't the paramount goal.

  • Who? What? Why?: The Business Roundtable includes executives from major U.S. companies such as Walmart, Apple and Pepsi. For years, the group has said driving shareholder value is the chief and only aim of a business. Now, the Roundtable says employees, the environment and ethically dealing with suppliers is important too.

  • The Baseline: It's uncharted territory for this powerful group. The New York Times says the move breaks with "decades of long-held corporate orthodoxy." Axios calls it a "small, but symbolic move."

  • From the Left: David Ignatius of the Washington Post is encouraged by the change. "Business leaders seem to recognize the crisis: The system isn’t delivering," he writes.

  • From the Right: The Wall Street Journal editorial board says there's "less substance here than meets the media spin." This was a "symbolic" move meant to fend off future backlash. "The executives...know they are political targets," the board writes.

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