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Wed Jul 24, 2013, 05:37 AM

This is how I know corporations do not care about us...

If these were caring entities, they would look out on their underpaid workers and feel sadness and regret. And they would be willing to shoulder the extra burden of higher wages in order to serve as proper humanitarians. After all, dipping into profit is the least they could do in such times.

They would see their workers not as expendables to be shucked of labor value and then tossed away but instead as the vitality, the very life-blood, of corporate success. Each business would be an epic machine consisting of all the workers and even managers and managing boards. It would not be a battle between the "lower" workers and managers and the "higher" managing boards and executives. That thought would simply not exist in a caring environment.

The failure of corporations to act fiscally responsible, the collapse of once great corporate giants would lead to speeches of executives begging for forgiveness and admitting their mistakes. Stepping down to let someone else try to do a better job. Allowing the workers, who possess almost no fault for such collapses, to take control and dictate their needs and will.

These men and women would never take bonuses or pay increases while workers suffer. That would simply be unacceptable for anyone with a conscience.


But this is not how corporations work. These executives and board members sleep very well at night even though they are vampiring the product of worker labor in amounts that boggle the mind. They do not care about the insultingly low wages. They are not concerned with atoning for their mistakes. They seek only to act meek when it comes time to be saved by the protective hand of government. They are the real welfare kings and queens; a projection of astronomical blindness on their part.

They don't give a damn about us. And that is the single most damaging thing anyone needs to know before they write off corporate America, really corporate globalism, as a sham designed to enslave the masses to benefit the few.

These leaders of industry are bastards lacking even the most minuscule desire to partake from the great drink of brotherhood and sisterhood for fear that their discerning pallets might become confused. Might stray away from the mechanization of pulverizing workers down to numbers, dollar signs and decimals.

They fear that which we need the most; compassion.

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Response to Gravitycollapse (Original post)

Wed Jul 24, 2013, 05:46 AM

1. One Fact - Corporations Are Required By Law To Make A Profit For Shareholders - Change The Law To

Change Behavior.

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Response to cantbeserious (Reply #1)

Wed Jul 24, 2013, 05:50 AM

2. Such a law is drafted and supported by shareholder interests.

Of course they want a cut.

No, behavior does not reflect law. Law reflects behavior. These bad laws are crafted by bad people to allow them to continue doing their bad deeds. I am not so naive to assume otherwise.

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Response to Gravitycollapse (Reply #2)

Wed Jul 24, 2013, 05:56 AM

3. These Laws Are Written Into The Articles Of Incorporation For Each State

Ergo, there are 50 sets of law to change.

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Response to cantbeserious (Reply #1)

Wed Jul 24, 2013, 06:58 AM

7. What? Required by law to profit? How is that possible?

What are the punishments for failure?

How is failure determined?

Is a profit of $1.00 enough to avoid prosecution?

If the actual ownership of stock is in constant flux, who can file charges? Is it a class action sort of thing? As class actions are civil court and not criminal, how is dissatisfaction among shareholders a criminal offense?

Corporations own diversified companies by controlling portions of the sub-companies stock; so, if a sub-company is hurting because of it's management's disaster and causing the parent corporation's stock to fall below the red line, are the corporate officers guilty of wrong doing?


It seems to me to be an unprovable (or unenforcible) law. Anybody know the number to a relevant state or federal code, so I can check it out?

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Response to Half-Century Man (Reply #7)

Wed Jul 24, 2013, 07:13 AM

8. there is no charges filed .. there is no prosecution

the CEO/CFO/ etc are fired and replaced with people who
will do what it takes to make a profit.
which is why people buy stock, to make money.
which is why 401k and pension plans buy stocks
to make money.

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Response to Half-Century Man (Reply #7)

Wed Jul 24, 2013, 07:41 AM

10. Go Read The Articles Of Incorporation For Your State

Pay attention to the duties and responsibilities for officers.

If you would like to delve deeper, start reading about Corporate Governance.

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Response to cantbeserious (Reply #1)

Wed Jul 24, 2013, 09:12 AM

12. Er, not a fact. Or a law. A MYTH.

http://www.alternet.org/economy/dumbest-idea-world-corporate-americas-false-and-dangerous-ideology-shareholder-value

Shareholder value thinking is endemic in the business world today. Fifty years ago, if you had asked the directors or CEO of a large public company what the company’s purpose was, you might have been told the corporation had many purposes: to provide equity investors with solid returns, but also to build great products, to provide decent livelihoods for employees, and to contribute to the community and the nation. Today, you are likely to be told the company has but one purpose, to maximize its shareholders’ wealth. This sort of thinking drives directors and executives to run public firms like BP with a relentless focus on raising stock price. In the quest to “unlock shareholder value” they sell key assets, fire loyal employees, and ruthlessly squeeze the workforce that remains; cut back on product support, customer assistance, and research and development; delay replacing outworn, out- moded, and unsafe equipment; shower CEOs with stock options and expensive pay packages to “incentivize” them; drain cash reserves to pay large dividends and repurchase company shares, leveraging firms until they teeter on the brink of insolvency; and lobby regulators and Congress to change the law so they can chase short-term profits speculating in credit default swaps and other high-risk financial derivatives. They do these things even though many individual directors and executives feel uneasy about such strategies, intuiting that a single-minded focus on share price may not serve the interests of society, the company, or shareholders themselves.

This book examines and challenges the doctrine of shareholder value. It argues that shareholder value ideology is just that—an ideology, not a legal requirement or a practical necessity of modern business life. United States corporate law does not, and never has, required directors of public corporations to maximize either share price or shareholder wealth. To the contrary, as long as boards do not use their power to enrich themselves, the law gives them a wide range of discretion to run public corporations with other goals in mind, including growing the firm, creating quality products, protecting employees, and serving the public interest. Chasing shareholder value is a managerial choice, not a legal requirement.

Snip

Today, questions seem called for. It should be apparent to anyone who reads the newspapers that Corporate America’s mass embrace of shareholder value thinking has not translated into better corporate or economic performance. The past dozen years have seen a daisy chain of costly corporate disasters, from massive frauds at Enron, HealthSouth, and Worldcom in the early 2000s, to the near-failure and subsequent costly taxpayer bailout of many of our largest financial institutions in 2008, to the BP oil spill in 2010. Stock market returns have been miserable, raising the question of how aging baby boom- ers who trusted in stocks for their retirement will be able to support themselves in their golden years. The population of publicly held U.S. companies is shrinking rapidly as for- merly public companies like Dunkin’ Donuts and Toys“R”Us “go private” to escape the pressures of shareholder-primacy thinking, and new enterprises decide not to sell shares to outside investors at all. (Between 1997 and 2008, the number of companies listed on U.S. exchanges declined from 8,823 to only 5,401.)5 Some experts worry America’s public corporations are losing their innovative edge. The National Commission found that an underlying cause of the Deepwater Horizon disaster was the fact that the oil and gas industry has cut back significantly on research in recent decades, with the result that “knowledge and experience within the industry may be decreasing."

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Response to HughBeaumont (Reply #12)

Wed Jul 24, 2013, 10:21 AM

13. The IRS Will Question Corporate Returns That Do Not Show A Profit

Look up the code.

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Response to Gravitycollapse (Original post)

Wed Jul 24, 2013, 06:09 AM

4. Want to know how corporations work? Watch Nestle's CEO from 1:54:

 



Then go back to the beginning to learn that Nestle is the 27th largest corporation in the world and the #1 foodstuff corporation.

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Response to Fire Walk With Me (Reply #4)

Wed Jul 24, 2013, 06:23 AM

5. The Goal Of Corporations Is To Make Money By Monetizing Anything And Everything

This is driven by law which demands that the Corporate Fiduciaries are required to make a profit for shareholders.

If a company is in the food industry, that company would be compelled to search for new sources of revenue.

Monetizing water, while probably immoral, is a all part of what drives these corporations by law.

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Response to Gravitycollapse (Original post)

Wed Jul 24, 2013, 06:34 AM

6. This is the result of the disconnect......

between owners and labor.
When so many (stockholders, investors) have zero interest in companies other than "how much can I make" there is a problem.
Not just for labor but the long term viability of the company itself.

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Response to Gravitycollapse (Original post)

Wed Jul 24, 2013, 07:27 AM

9. It has nothing to do with "corporations".

Sucking the soul out of the peons goes back long before corporations were invented. Before that we had slavery and before that serfdom and before that something else.

The 1% are predators. Period. There are "good ones" like Bill Gates and Warren Buffet but that's like being grateful the mafia boss paid for the rec center.

The 1% are predators.....the only thing we can do as humans is every once in a while clean out the 1% and start over. It will take a few decades for the next crop of predators to rise to the top and humanity will have a few years of relative economic equality.

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Response to Gravitycollapse (Original post)

Wed Jul 24, 2013, 08:07 AM

11. Oh. You're saying if they were moral, they wouldn't be laissez faire. Okay.

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Response to ancianita (Reply #11)

Wed Jul 24, 2013, 04:47 PM

14. If they were moral, they would place their employees needs over profits.

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