Allen Bromberger a Guest on The Righteous Capitalists Podcast
Updated: Apr 14, 2021
"A Lawyer Who Ensures Good People Aren't Forced Down Bad Paths"
The Righteous Capitalists is hosted by Doug Zacker. He says, "One thing we have learned on The Righteous Capitalists is that for all stakeholders to benefit some people are just going to have to #takeless, at least in the short run. But, there's a legal problem here: Businesses have a legal fiduciary responsibility to their investors, which means that they can be legally challenged if decisions have a negative impact on investors, or even if investors believe decisions are causing returns to be smaller than they otherwise would be. In other words, a company can be sued if they raise workers' wages or spend on more environmentally friendly infrastructure to the perceived detriment of investors." Luckily, there are lawyers like our own Allen Bromberger who have the know-how to flip the script on this story, legally. This podcast discusses how Allen takes creative approaches to support entrepreneurs to structure companies in a way that obligates them to take all stakeholders into account in the decision-making process. Allen discusses how he also helps businesses create policies that benefit employees, vendors, communities, and the environment. When a founder is exiting, Allen works creates sales agreements that ensure the new owners continue the company's mission. Another interesting thing you will hear about is why there is such a difference in the U.S. between "doing good" and "making money." You'll enjoy Allen's explanation!