Financial Management Case between "Time Warner v. Six Flags" Background In Time Warner Entertainment Company v. Six Flags over Georgia, Georgia courts affirmed the proposition that Time Warner, the corporate owner of the Six Flags park, acted in such a way as to disregard its fiduciary duties to Six Flags over Georgia, the company hired to operate the park. Legal Analysis Six Flags over Georgia was found to be operating the park in good faith, whereas Time Warner was seen to have actively hurt the operators—for example, by refusing to invest in park infrastructure—in order to drive down the property’s value and acquire it or else pay less to the operating company. Time Warner was in breach of fiduciary duty, a category of business tort....The end:
.....and-burn, short-term business thinking. If we return to the insight that ethics is social, it is the entire social context of Wall Street’s practices of financial analysis that needs to be altered for companies such as Time Warner to be kept on the straight and narrow. References Ferguson, J. (1973). The politics of love. London: James Clarke & Co. Malachowski, A.R. (2001). Business ethics: Critical perspectives on business and management. London: Taylor & Francis. Murray, J., Galavan, R. & Markides, C. (2008). Strategy, innovation, and change: Challenges for management. New York: Oxford University Press US. Rendtorff, J. (2009). Responsibility, ethics and legitimacy of corporations. Copenhagen: Copenhagen Business School Press.