Labor Sec’y: Corporate Inversions Are ‘Shortsighted’

‘We need to be focused in corporate America on the long-term. Too many corporate executives focus on the here and now’

“I think it’s unfair and short-sighted. It’s been interesting to watch the reaction to Burger King across an idealogical spectrum. People have choices. And I was watching a number of conservative commentators, as well as those on the progressive side saying, people are going to vote with their [feet] as they should. I spoke to a fortune 50 CEO a while ago, who said to me something that really stuck in my mind, which is that, we need to be focused in corporate America on the long-term. Too many corporate executives focus on the 'here and now.' This person told me a story about a renegade shareholder who said, 'I would rather be rich than right.' And that really stuck with me. I have talked to so many CEO’s who want to be right and you can be right and you can be quite rich as well, and you can take care of your workers and put a good product.”

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