I think what he is trying to insinuate is that the officers/directors of any public company have a fiduciary duty to the shareholders. And that they are more interested in lining their own pockets than they are in performing this duty.
is not the same. Some are operated by honest, honorable people of character that are as concerned for their shareholders/partners as they are themselves. Then of course there are companies like GTE/GTEL/GTEM/SNSR/WSGI...