Good ol f'in corporate greed at it again.

[Adam]

...draconian.

No question - here's our AH Word of the Day.

...I don't think any of us would like to see the clocks turn back 100+ years.

Ask Major. He'd probably like to be in his teens again.

J/K, Dave!

 

[markw]

Interesting.... so companies have no responsbilities but to themselves.

Somewhat, but Caterpillar and other companies have responsiblities to their stockholders. They like their quaterly dividend checks and, as you can see here, this has historically been a fairly good performer. If you're sitting on a few hundred (or thousand) shares of this stock, that could amount to a nice bonus four times a year.

The US is going to die a slow and painful economic death I'm afraid.

Not just the US. Look at the source of the article.

 

[Rickster71]

If it's called Corporate Greed when companies send jobs overseas.
What is it called when our own government's Jobs Czar does it?

General Electric's CEO Chairman, and President Obama's job Czar Jeff Immelt is moving its 115-year-old X-ray division from Waukesha , Wis. , to Beijing . In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers.

This is the same GE that made $5.1 billion in the United States last year, but paid no taxes-
the same company that employs more people overseas than it does in the United States.
Why didn't our president fire his Jobs Czar for this?
I guess the President forgot to tell him in which country he was supposed to be creating those jobs.

Another GE bulb factory is closed by our Jobs Czar:
GE’s Green Plans Move Jobs | Foreign Connections

 

[3db]

Somewhat, but Caterpillar and other companies have responsiblities to their stockholders. They like their quaterly dividend checks and, as you can see here, this has historically been a fairly good performer. If you're sitting on a few hundred (or thousand) shares of this stock, that could amount to a nice bonus four times a year.

Not just the US. Look at the source of the article.

I'm sorry Mark but I'm beginning to disagree with the shareholder theory. Does the needs of a few shareholders out way the needs of an entire country? I truly think that we are headed towards a financial feudal system where money is now the new monarchy. But there is hope and maybe this will catch on. If a company goes bankrupt in Australia, the money owed go first to the pensioners, then the employees and lastly to its creditors. This IHO is the way it should be.

Getting back to Catepillar, I wonder how many Catepillar execs are in bed with the politicians to allow something like this to happen? This is what I call corporate greed.

 

[markw]

I'm sorry Mark but I'm beginning to disagree with the shareholder theory. Does the needs of a few shareholders out way the needs of an entire country?

IMNSO, no, but what does our opinion count?

I truly think that we are headed towards a financial feudal system where money is now the new monarchy. But there is hope and maybe this will catch on. If a company goes bankrupt in Australia, the money owed go first to the pensioners, then the employees and lastly to its creditors. This IHO is the way it should be.

I agree with your first statement but, in the real world, do you really think the haves care about the have nots? You don't see fat bankers and people who live off investments and dividends working in factories or taking part on the OWS protests or worrying about their 201k's, which started out as 401K's.

Solyndra was the first federal loan where it was stipulated that investors got paid back before anyone else.

"Committee leaders said the administration may have violated the law when it restructured Solyndra's loan in February in such a way that private investors moved ahead of taxpayers for repayment in case of default. The economic stimulus law provides for taxpayers to be ahead of other creditors in the event of bankruptcy or default."

See here for the ful article.

Getting back to Catepillar, I wonder how many Catepillar execs are in bed with the politicians to allow something like this to happen? This is what I call corporate greed.

Well, if you read Rickster's post above I think that might answer your question. It's been going on for years, and both democrats and republicans are equally responsible. Here's a little something else to chew on.

 

[psbfan9]

If it's called Corporate Greed when companies send jobs overseas.
What is it called when our own government's Jobs Czar does it?

General Electric's CEO Chairman, and President Obama's job Czar Jeff Immelt is moving its 115-year-old X-ray division from Waukesha , Wis. , to Beijing . In addition to moving the headquarters, the company will invest $2 billion in China and train more than 65 engineers and create six research centers.

This is the same GE that made $5.1 billion in the United States last year, but paid no taxes-
the same company that employs more people overseas than it does in the United States.
Why didn't our president fire his Jobs Czar for this?
I guess the President forgot to tell him in which country he was supposed to be creating those jobs.

Another GE bulb factory is closed by our Jobs Czar:
GE’s Green Plans Move Jobs | Foreign Connections

I'm pretty sure it's still corporate greed. The products can be manufactured at lower cost in China without passing the savings on to consumers.

 

[MinusTheBear]

When will capitlism realize than less than 1% of the population (corporate execs) isn't enough to turn a country like the US around economically. The wealth of a nation must take into account its general popolous and the spending power of them and not just corporite execs!!! The link to this story just burns my bacon. I'm not a union man at heart but in this case ..they have my undivided support...:


Caterpillar-union standoff could drastically change labour relations: expert

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