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Thu Jan 17, 2013, 01:01 PM

Companies Whine All The Way To The Bank: Seven And A Half Things To Know

Companies Whine All The Way To The Bank: Seven And A Half Things To Know

http://www.huffingtonpost.com/2013/01/16/seven-and-a-half-things-you-need-to-know_n_2490438.html?utm_hp_ref=business&utm_hp_ref=business

Thing One: Corporate Profits Booming Under Yoke Of Socialism, Fascism: Give yourself a hand, Corporate America, history's greatest martyr-hero: You have managed to turn record profits despite the country being run by a socialist, fascist Muslin dictator for the past four years.

U.S. corporate profits have soared 71 percent, after taxes, under the crushing grip of Dear Leader Obama, Bloomberg writes. No other president since World War II, when America was also run by socialist monsters, has seen such a profit increase. Corporate profits are the highest share of GDP since at least 1947, when record-keeping began, if you can trust the government's records. "Profits are more than twice as high as their peak during President Ronald Reaganís administration and more than 50 percent greater than during the late-1990s Internet boom, measured by the size of the economy," Bloomberg writes.

Well, there's your problem right there, companies will say: The economy has been so terrible under Obama that naturally their profits are going to look bigger in comparison. Companies have squeezed profits out of this horrible economy by making it even more horrible, laying off workers and slashing costs. So-called "economists" disagree with this corporate view, Bloomberg writes, noting the economy would be in worse shape if not for Obama's redistribution, er, stimulus plans.

The cognitive dissonance is on fullest display in the banking industry. Nobody has whined harder about Obama than the put-upon bankers, whom Obama once cruelly called "fat cats," sending the delicate flowers to their fainting couches, where they fanned themselves furiously with wads of cash. And yet nobody is making more money than the biggest, most oppressed banks. Despite the hardships of tighter regulation and higher capital requirements, Goldman Sachs managed to utterly smash profit expectations in the fourth quarter, not only from cutting costs like banker pay, but also because of "a significant rebound in its core business," writes Susanne Craig in the New York Times.

(more at link)

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Reply Companies Whine All The Way To The Bank: Seven And A Half Things To Know (Original post)
abelenkpe Jan 2013 OP
lpbk2713 Jan 2013 #1
abelenkpe Jan 2013 #5
liberal N proud Jan 2013 #2
abelenkpe Jan 2013 #6
liberal N proud Jan 2013 #7
Zorra Jan 2013 #3
abelenkpe Jan 2013 #4

Response to abelenkpe (Original post)

Thu Jan 17, 2013, 01:13 PM

1. And top execs' compensation has steadily increased ...




while blue collars' pay has steadily decreased, even though productivity is up.

Or, to put it another way ... the people who actually do the work are doing
more for less while the fat cats sit back and rake in the cash while they set
plans in play on how they will downsize next.

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Response to lpbk2713 (Reply #1)

Thu Jan 17, 2013, 03:02 PM

5. So true

I keep reading how the economy is stagnant because of uncertainty. It's not CEO's that are uncertain, it's the average worker worried about job security worker harder just to get by.

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Response to abelenkpe (Original post)

Thu Jan 17, 2013, 01:20 PM

2. Companies are cutting people while reporting those profits

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Response to liberal N proud (Reply #2)

Thu Jan 17, 2013, 03:08 PM

6. I love how they profit while destroying the economy

and how CEO's get raises for laying off workers. And they call themselves job creators.

Every one person laid off is another who needs social programs that require revenue from tax payers. So instead of saying the well to do should pay more, they advocate for slashing needed programs. Every one person laid off means one more person not going out to eat, buying clothes, cars, a home, paying bills and taxes. That effects the local economy. Everyone suffers except those a the very top. No one should applaud cuts. Austerity is a recipe for deepening the economic crisis not solving it. We need to do more to get that message out there and counter tea party nonsense and the whine from wall street and CEO's who say we need to cut social programs and not increase revenue by taxing them a little bit more.

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Response to abelenkpe (Reply #6)

Thu Jan 17, 2013, 07:19 PM

7. Experiencing that first hand

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Response to abelenkpe (Original post)

Thu Jan 17, 2013, 01:58 PM

3. We seriously need to subjugate/nationalize these corporations. nt

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Response to Zorra (Reply #3)

Thu Jan 17, 2013, 02:59 PM

4. Agree completely nt

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