This would be a good example of a company that is not maximizing profits. If the company was in existence solely to maximize profits for their shareholders, this behavior would be non-existent.

The fact that it's pervasive would tend to let a person conclude that there's many companies that do not maximize profits..........yet they continue to survive just fine.

I've got some examples of major Wall street firms that spend more money than you can possibly imagine on total BS...........and the bonuses that are handed out are absolutely stunning. This certainly doesn't maximize profits............but you haven't heard of Merrill or Morgan Stanley or Goldman Sachs going under.........have you?