A weekly thread to discuss financial matters - from personal all the way up to global.
Ground Rules
- Remember that we're all just Internet randos. Don't bet your life savings on a hot tip from this thread.
- Keep culture war in the culture war thread. Yes, global events may impact our personal finances, but that does not mean we have to incessantly harp on culture war aspects here. If you are going to discuss it, please stick to the practical impacts of it on an individual level.
- Be kind. Remember that everyone here comes from different circumstances. We all have different resources available and different risk tolerances.
- Don't let the perfect be the enemy of the good. Better is better. Celebrate people when they take a step up and work to move their finances in the right direction. Don't flame out because they haven't followed what you consider the optimal path. Everybody has to start somewhere.
Jump in the discussion.
No email address required.
Notes -
There is an enforcement mechanism:
Though, surprisingly, there's apparently no case law (according to my lawyer on retainer, Claude McClaude Esq.) around a PBC not fulfilling its public benefit. There is for shareholders' financial benefit: Drakes Landing Associates, L.P. v. Tilden Park Capital Management, L.P. It was dismissed, though, as the plaintiffs didn't account for the other purposes.
It does seem like it disempowers shareholders, without adding meaningful checks to enforce the public benefit. If you're not looking out for shareholder financial interests, it's because you're looking out for the public benefit; if you're not looking out for the public benefit, it's because you're looking out for financial interests.
Nice for insiders, and maybe has the benefit of making nuisance suits harder to prove.
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