[HN Gopher] Microsoft held an invite-only concert for execs, 1 d...
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       Microsoft held an invite-only concert for execs, 1 day before
       announcing layoffs
        
       Author : underscoreSpace
       Score  : 57 points
       Date   : 2023-01-20 19:45 UTC (3 hours ago)
        
 (HTM) web link (www.businessinsider.com)
 (TXT) w3m dump (www.businessinsider.com)
        
       | metadat wrote:
       | What does this say about the current headspace of the executive
       | team at Microsoft? "Detached from reality" would be an
       | understatement.
        
         | StrictDabbler wrote:
         | Holly: The economic downturn has been difficult recently,
         | forcing the closures of both Camden and Yonkers, to be followed
         | soon by what other branch? For five-hundred thousand dollars,
         | is it A.) Scranton, B.) Buffalo, C.) Utica, or D.) toothbrush!
         | 
         | Michael Scott: I will say B, Buffalo! Final answer!
         | 
         | Holly: That is correct!
        
         | kps wrote:
         | I'm a bit more cynical. I think it's perfectly in line with
         | reality.
        
         | landemva wrote:
         | While it looks wasteful, the exec's travel costs for Davos were
         | likely higher. I wonder why shareholders pay for MS execs to
         | attend the Davos holiday week.
        
           | Swenrekcah wrote:
           | Well, perhaps not all conferences are worth the money
           | companies spend on sending their employees there, but I'd
           | guess Davos probably is.
        
       | COGlory wrote:
       | This is the kind of stuff I don't understand.
       | 
       | On one hand: "Corporations are bound by fiduciary responsibility
       | to maximize profit"
       | 
       | On the other hand...private concerts. Could an argument REALLY be
       | made that Microsoft execs are _so valuable_ that if they didn 't
       | have this concert, the execs would leave and the company would
       | suffer more losses than it spent on the concert? Why does it seem
       | like executives are the only areas that aren't ever subject to
       | cost cutting? Shouldn't the march to profit necessitate a steady
       | downward trend in CEO salaries? Do I just not understand what
       | fiduciary responsibility is? Why can't shareholders sue over this
       | concert?
       | 
       | I was never a fan of the "corporation maximize profit legal
       | responsibility" argument, but it doesn't even seem consistent
       | with itself...
        
         | pjerem wrote:
         | > Why does it seem like executives are the only areas that
         | aren't ever subject to cost cutting?
         | 
         | It's deceptively as simple as the fact that they are the one
         | cutting costs. Who would fire himself ?
        
           | COGlory wrote:
           | The board?
        
       | jbverschoor wrote:
       | They clearly had something to celebrate
        
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       (page generated 2023-01-20 23:01 UTC)