Business Roundtable Announces Rethink of Putting Profits First
As the social responsibilities of corporations receive more attention, and stakeholders hold companies liable for any negative externalities borne by society, business executives have begun paying more attention to outside concerns over how their companies should be run.
The recently released, “Statement on the Purpose of a Corporation,” notes that companies have a fundamental commitment to all stakeholders, to deliver value, invest in employees, deal fairly with partners, and support local communities, while growing shareholder value. This commitment is signed by many of the largest firms, domestic and international.
Jamie Dimon, CEO of JPMorgan Chase says, “The American dream is alive but fraying. These modernized principles reflect the business community’s unwavering commitment to continue to push for an economy that serves all Americans.”
It could be viewed cynically as simply”virtue signaling” by profit-maximizing corporations, but it feels different. This is a significant capitulation. The environment surrounding corporate social responsibility has changed. Many companies have felt the heat when their unsavory or irresponsible business practices were revealed. The market has begun enforcing a certain standard of conduct, and company executives have begun adopting more compliant behavior.
Timothy Calkins, CFA
Co-Chief Investment Officer
Timothy serves as a member of the Nottingham Investment Policy Committee. He brings over 19 years of investment experience to the team. Timothy is responsible for corporate and municipal credit research & trading, as well as contributing to our economic outlook and interest rate expectations. He also leads our alternative investment research and custom allocations, with a focus on private credit and liquid alternatives. Timothy’s membership and active participation with the Buffalo Angels group keep him connected to the local start-up community.
Nottingham Advisors offers both institutional and individual clients experience, sophistication, and professionalism when helping them achieve their goals. With over 40 years of serving Western New York and clients in more than 30 states, Nottingham tailors each solution to fit the specific needs of each client.
For more information about Nottingham’s offerings, visit www.nottinghamadvisors.com or call 716-633-3800.
Nottingham Advisors, Inc. (“Nottingham”) is an SEC-registered investment adviser with its principal place of business in the State of New York. Registration does not imply a certain level of skill or training. For information pertaining to the registration status of Nottingham, as well as its fees and services, please refer to our disclosure statement as asset forth on Form ADV, available upon request or via the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). The information contained herein should not be construed as personalized investment advice or a solicitation to buy or sell any security. Investing in the stock market involves the risk of loss, including loss of principal invested, and may not be suitable for all investors.
Past performance is no guarantee of future results. This material contains certain forward-looking statements which indicate future possibilities. Actual results may differ materially from the expectations portrayed in such forward-looking statements. As such, there is no guarantee that any views and opinions expressed in this material will come to pass. Additionally, this material contains information derived from third-party sources. Although we believe these sources to be reliable, we make no representations as to the accuracy of any information prepared by any unaffiliated third party incorporated herein and take no responsibility therefore.
All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change without prior notice. Investing in the stock market involves gains and losses and may not be suitable for all investors. Past performance is no guarantee of future results.
For additional information about Nottingham, including fees and services, send for our Disclosure Brochure, Part 2A or Wrap Brochure, Part 2A Appendix 1 of our Form ADV using the contact information herein.