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V 6:4 May 10, 2012
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"Maximizing shareholder value is the dumbest idea in the world."
-- Jack Welch
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The Book: The Shareholder Value Myth: How Putting Shareholders First Harms Investors, Corporations, and the Public
Why Read It? One of the biggest  myths in the business world is that corporations are required to "maximize shareholder value." Says who? Definitely not author, professor, and renowned corporate expert Lynn Stout, who debunks the very idea of shareholder primacy. Stout shows how this sort of thinking endangers not just the public, but also the shareholders themselves, because it focuses on short-term earnings and discourages investment and innovation. Further damage is done to employees, customers, and communities as companies indulge in reckless and irresponsible behaviors to support a flawed assumption.
Stout also looks at new models of corporate purpose that better serve the needs of investors while still being beneficial to society. Read an excerpt here and buy the book for 30% off.
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For review and media copies, please contact Cynthia Shannon.
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The Source of Innovation
In this issue of the Communiqué,  we explore how the myth of shareholder primacy and always focusing on maximizing shareholder returns does great damage to everyone -- including the shareholders themselves.
But how could a system that puts shareholders first be harmful to them? For this issue, Lynn Stout provides Five Ways Shareholder Primacy Ultimately Hurts Shareholders.
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Other News 
+ One university student with perhaps too light a course load has transcribed all of Shakespeare's Romeo and Juliet into text-speak.
+ A well-known literary agent explains why she won't take on any old thing -- even if she knows it will sell.
+ Finally, there's a visual explanation of what accounts for the way that old books smell.
+ Thad McIlroy explores the six most important things we've learned about Amazon book reviews over the past several years.
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Freebies
+ Free Excerpt from a New York Times Bestseller: Imagine, by Jonah Lehrer. Read an excerpt here.
+ Free How-To: Learn what 25 acronyms you see every day (but have no idea what they stand for) mean here.
+ Free Software: Maps of the world from 300 BCE to the modern day are available to download here.
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Free E-Book (for 48 Hours)
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 For forty-eight hours, we are giving away e-copies of the bestseller The Big Investment Lie, by Michael Edesess, and you can download it here. In thanks for your loyal readership, this e-book will be available as a free download exclusively for BK Communiqué subscribers. But act fast! After midnight on May 11, 2012, you're going to have to plunk down $24.95 like everyone else.
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 Bonnie Kaufman, BK's Digital Community Builder and Editorial Associate, is dealing with all things editorial and all things digital... and enjoying a vicious raccoon versus dog showdown.
For this issue's blog post, Bonnie makes a rare announcement: BK is hiring!
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 Take the power back and unleash the creativity and innovation in commerce by dealing directly with (and giving your money to) people instead of corporations. Fiverr's premise is simple. Talented individuals worldwide offer thousands of services, products, creations, and gifts -- each costing only $5. Some of the more interesting things you can obtain for a fiver include the following:
+ A handmade iPod Mini-like mp3 player
+ A video touting you as a world-famous icon
+ A pair of beautiful handmade hibiscus hair clips
+ A hen laying an egg displaying your personal message
+ Voice-over messages in Sean Connery's accent
+ A minor celebrity making a tough decision for you
All it takes is five dollars and the power of individual creativity at Fiverr.
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 Last time, I issued this challenge. Since no one submitted the right answer, I think that I am long overdue for my reward. The answer can be found here.
And your next challenge can be found here.
Email me with any comments or rants as well as thoughts about the teenager who deals from her locker at school -- except the contraband is banned books.
And if the last newsletter's suggestion to have a look at the craziest beards in the world was a bit scary, I highly recommend that you not play the Midnight Man game. (Consider yourself warned.)
Jeevan
P.S. -- this isn't real, is it?
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