CEOs Say They Will Stop Maximizing Shareholder Value, Be Better If They Stopped Maximizing CEO Compensation

The Washington Post had a major front page article announcing in the headline "Group of top CEOs says maximizing shareholder profits no longer can be the primary goal of corporations." The piece refers to a statement by the Business Roundtable, a group comprising many of the country's largest companies, which argues for an alleged shift in direction.

The problem with the statement and the piece is that that there is little evidence companies have been maximizing shareholder profits in the las...