Re: anonymous companies

[jamesd@echeque.com]

>> At 06:42 PM 5/16/96 -0700, Wei Dai wrote:
>> > I'll just give one problem: the principal-agent problem.  How do owners of
>> > the company make sure the managers operate the company in their best
>> > interest?


>On Fri, 17 May 1996 jamesd@echeque.com wrote:
>> Actually looting of companies happens a lot right now today, and very
>> seldom leads to criminal charges.  Twice I have lost a job because the
>> company I worked for went under, apparently due to looting.

At 08:37 AM 5/18/96 -0400, Black Unicorn wrote:
> Be careful to distingiush "owner" from "employee."  All to common a
> mistake I fear.
> Until someone passes a constitutional right to not be fired, well, you're
> employeed at the will and by the good grace of the owners and your boss.

I was of course referring to looting by the management, not the
shareholders, as should have been obvious from context.


>> In others, such as net startups,
>> I see no solution other than increased reliance on personal individual
>> capital.

>Still, vulnerable to last round problems.

Reread:  Your above statement makes no sense in context.
 ---------------------------------------------------------------------
              				|  
We have the right to defend ourselves	|   http://www.jim.com/jamesd/
and our property, because of the kind	|  
of animals that we are. True law	|   James A. Donald
derives from this right, not from the	|  
arbitrary power of the state.		|   jamesd@echeque.com