Originally Posted by RichardCoulter

You can't even buy in bulk to escape the price rise now that they are barcoded.

Anyone with a stock of these old style stamps has to send them back in to be replaced.

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Exactly.

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Yep, the sole reason for a company's existence is to make a profit.

Sure, the odd one might do something altruistic, but the law requires directors to always put the interests of shareholders first.

Originally Posted by RichardCoulter View Post Generally speaking, the primary goal of private companies is to make as much profit as possible (in fact this is a legal requirement of directors). Even things like improving customer service are done with this in mind. Add the relaxation of the regulations into the mix to aid private companies and this is the result. If the BBC were to be scrapped or neutered (as some would like) this situation would reflect the whole of the broadcasting landscape. I do feel for the staff (including office & support staff), though I doubt Roman Kemp will be going hungry if he's one that gets the chop!

So what is abundantly clear is that in UK law there is: a) No duty to maximise profit b) No duty to minimise tax bills c) A clear duty to exercise judgement.

First, the law. The Companies Act 2006 Section 172 requires directors to promote the success of the company, but with regard to six factors: the likely long-term consequences of a decision; the interests of employees; relationships with suppliers and customers; the firm’s impact on the community and the environment; its reputation for high standards of business conduct; and the need to act fairly between shareholders. The effect is precisely to prevent managements from automatically pleading a duty simply to maximise shareholder value.