The obligation of fiduciary responsibility says nothing about timeframe - there is no obligation to maximize the next quarter's results.
Investing in the long-term future of the firm, so that future profits will be higher, is entirely responsible.
That aside, going after management for breach of fiduciary responsibility in a case like that is just about impossible - it's not a case of outright fraud, it's a matter of judgment and opinion.
Following on Brad Templeton's idea, obviousness is easy to determine.
Obvious solutions come quickly. Non-obvious ones take a long time.
Just because a solution is new, doesn't mean it's not obvious.
You have to look at how old the PROBLEM is.
If a solution comes quickly after the emergence of a problem, the solution is probably obvious and will be quickly re-invented by others. If the problem has been around for a long time, the solution is probably not obvious.
Example: Selling books online. Obvious. Before the Web the problem didn't exist.
Example: Xerography. Not obvious. The unsolved problem of making single copies of documents had been around for all of history.
It works fine, but 2 things made me go back to Firefox.
1 - Doesn't support Google Toolbar (!)
2 - PDFs didn't open in Acrobat automatically. Maybe I could have gotten this working with some fiddling, but considering it doesn't support Google Toolbar ... back to Firefox.
Come on, Google - support your own dogfood already.
This is GOOD. By making the cap explicit, they open themselves up to competition. Where I live, Comcast and Verizon (FIOS) were having a who-is-faster war for a while - with explicit caps, they can compete on who has higher caps.
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(as DaveL)
The obligation of fiduciary responsibility says nothing about timeframe - there is no obligation to maximize the next quarter's results.
Investing in the long-term future of the firm, so that future profits will be higher, is entirely responsible.
That aside, going after management for breach of fiduciary responsibility in a case like that is just about impossible - it's not a case of outright fraud, it's a matter of judgment and opinion.
Obviousness is easy to determine (as DaveL)
Following on Brad Templeton's idea, obviousness is easy to determine.
Obvious solutions come quickly. Non-obvious ones take a long time.
Just because a solution is new, doesn't mean it's not obvious.
You have to look at how old the PROBLEM is.
If a solution comes quickly after the emergence of a problem, the solution is probably obvious and will be quickly re-invented by others. If the problem has been around for a long time, the solution is probably not obvious.
Example: Selling books online. Obvious. Before the Web the problem didn't exist.
Example: Xerography. Not obvious. The unsolved problem of making single copies of documents had been around for all of history.
Raise the speed limit (as DaveL)
When a majority of citizens are breaking a law, it's the law that's wrong, not the citizens.
How about raising the speed limit so that 80% of drivers aren't "speeding"?
XML for financial derivatives (as Dave)
One way to deal with the transparency problem - XML for financial derivatives.
Make issuers fully describe their offerings in machine-readable form - all the way down to the individual borrowers or assets.
See this blog posting for a fuller discussion.
Tried it, went back to Firefox (as David Lindbergh)
I tried it.
It works fine, but 2 things made me go back to Firefox.
1 - Doesn't support Google Toolbar (!)
2 - PDFs didn't open in Acrobat automatically. Maybe I could have gotten this working with some fiddling, but considering it doesn't support Google Toolbar ... back to Firefox.
Come on, Google - support your own dogfood already.
This is GOOD (as DaveL)
This is GOOD. By making the cap explicit, they open themselves up to competition. Where I live, Comcast and Verizon (FIOS) were having a who-is-faster war for a while - with explicit caps, they can compete on who has higher caps.
This is MUCH better than "secret" caps.