Jim Devine wrote:
3. According to Jared Diamond (in his COLLAPSE), stockholders sued Henry Ford for paying his workers $5 per day -- and won. Is this true? if so, why do historians make such a big thing about the $5 day? (Diamond refers to this payscale as charity, but that's crap. It lowered turnover.)
If I recall correctly, old Ford had bought out his minority stockholders lomg before he introduced the $5 day. In any case Diamond's claim is scarcely believable, because if that had been the case it would have created a legal precedent that minority stockholders could interfere with a corporation's ordinary business decisions--which is anything but the case. Shane Mage "Thunderbolt steers all things...It consents and does not consent to be called Zeus." Herakleitos of Ephesos
