[bzbarsky]

> The purpose of a corporation by definition is to maximize > the bottom line for the shareholder.

No, the purpose is whatever the corporate charter says. It's just that most of those are pretty vague, and for a publicly held corporation it's been held that within the bounds of the charter there is a duty to maximize shareholder value (whatever that means). For privately held corporations, of course, the private holders just call the shots.

But back to charters... you may be interested in the fact that http://en.wikipedia.org/wiki/Public-benefit_corporation exist and distinctly do NOT maximize shareholder value. Also, <http://en.wikipedia.org/wiki/Corporation#Mutual_benefit_corp.... And in recent years there has been a movement to create charters that look just like your typical public corporation charter but impose certain restrictions on what the corporation is or is not allowed to do in the process of making money. Several states issue such charters at this point. Again, the corporation is responsible to shareholders but within the bounds of the charter. Which shareholders should read before investing, of course; that's basic due diligence.