I appreciate the article as it gives numbers and data to what was widely perceived anyway.  The next question is where do fiduciary duty and corporate governance of the boards of directors come in?  Are their obligations to the shareholders or do they need to ensure the long term success of the companies?  Who needs to worry about long term profits beyond quarterly earnings and executive bonus targets being triggered?  If the answer is no one then perhaps shareholders are not really long term owners but rather stock market players - leaving employees as the only ones vested in the long term viability of their employers.  Every other stakeholder are beneficiaries of short term earnings, bonuses, and tax- advantaged capital gains and stock options.  Think Sears, Nortel, Stelco, small lumber and pulp mills, among others.