The Infinite Game

One analyst, Kevin Crissey
: “The Case Against ‘Maximizing Shareholder Value,’” NPR,
May 6, 2017, 
www.npr.org/2017/05/06/527139988/the-case-against-maximizing-
shareholder-value
.
“We are troubled by AAL’s wealth transfer”
: John Biers, “American Airlines Defends
Pay Increase As Shares Tumble,” Yahoo Finance, April 27, 2017,
finance.yahoo.com/news/american-airlines-boosts-employee-pay-earnings-fall-
130526168.html
.
We “have to work on it”
: Author conversation with Doug Parker, May 3, 2019.
“The worst sort of business”
: Quoted in Adam Levine-Weinberg, “7 Ways Warren
Buffett Blasted the Airline Industry—Before Investing Billions There,” Motley Fool, March 5,
2017, 
https://www.businessinsider.com/warren-buffett-blasted-the-airline-industry-before-
investing-billions-in-it-2017-3
.
“help people across the world”
: Walgreens Boots Alliance, “About us,” “Vision,
Purpose and Values,” 
www.walgreensbootsalliance.com/about/vision-purpose-values
.

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“active decision to reduce space”
: Ronnie Cohen, “When CVS Stopped Selling
Cigarettes, Some Customers Quit Smoking,” Reuters, Health News, March 20, 2017,
www.reuters.com/article/us-health-pharmacies-cigarettes/when-cvs-stopped-selling-
cigarettes-some-customers-quit-smoking-idUSKBN16R2HY
.
“We’ve reviewed this on a regular basis”
: Lisa Schencker, “Why Is Walgreens Still
Selling Cigarettes? Shareholders Want to Know,” Chicago Tribune, January 26, 2017,
www.chicagotribune.com/business/ct-walgreens-selling-cigarettes-0127-biz-20170126-
story.html
.
According to the Centers for Disease Control
: “Health Effects of Cigarette
Smoking,” Centers for Disease Control and Prevention,
www.cdc.gov/tobacco/data_statistics/fact_sheets/health_effects/effects_cig_smoking/ind
ex.htm
.