Hello David
Thank you for your kind response - I take the responsibility for not being clear in my comments - my sincere apologies.
A focus on making a corporation inherently valuable would, in my simple way of thinking, serve the interests of shareholders, and by extension society at large.
Brad raises an excellent point that I have seen first-hand - when there is excess cash lying around, pet projects surface and corporate governance flounders.
In a world that is changing rapidly I think a short term focus is not only a good thing but likely the only thing that is a justifiable use of cash, that rightly belongs back in shareholder pockets in the absence of justifiable alternatives.
I look forward to a day when Corporate Boards are not locker room friends of the CEO and there is more representation of shareholder's interests at the table.
If there was one area that needs more regulatory oversight it would be the obligations of board members to shareholders, not to their pal, the CEO.
Best wishes
Savio