HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Krugman: When a business ... » Reply #29
Introducing Discussionist: A new forum by the creators of DU

Response to backscatter712 (Original post)

Sun Nov 25, 2012, 06:12 PM

29. They think of employees as a COST, not an INVESTMENT.

On top of that, executives at the Fortune 2000 are held by their nuts by the investment bankers and other Wall Street types. THOSE people truly regard employees as fodder ... a COST. The focus on the stock market, the availability of investment capital (nobody thinks about corporate bonds anymore), and the "Quick Ratios" that measure "productivity" in terms of direct labor employee compensation (NOT executive overhead pay!) are symptoms of a CAPITALIST attitude that regards Labor as an "evil" (even though it's labor that CREATES wealth).

Once upon a time not really that long ago, we regarded investment in corporate stock as a long-term method to preserve the value of capital -- not some roulette wheel for instant riches -- and we evaluated stock on the basis of fundamentals. No more. Folks who "play the market" don't even know what that means. (Warren Buffett does.) It's about the quality of the product and the reliability of the processes that create the product and the longevity of the work force and the operational background of the executives and the education and training of the workforce and how all that compares to both the market and the competition, foreign and domestic. Why? Because it was about the long term! It was NOT about the "quick kill"!! Companies once invested in on-the-job training! Because of that, they hired employees with a track record of LEARNING. Now, they look for "plug-and-play" workers who're already experienced in some proprietary (i.e. vendor's) technology and without an interest in advancing to a level where they did other things. (God forbid any insecure, wet-behind-the-ears MBA hire someone who might be able to do his job! Better!)

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 100 replies Author Time Post
backscatter712 Nov 2012 OP
Lionessa Nov 2012 #1
1StrongBlackMan Nov 2012 #47
AAO Nov 2012 #57
1StrongBlackMan Nov 2012 #61
AAO Nov 2012 #62
99Forever Nov 2012 #2
christx30 Nov 2012 #14
Populist_Prole Nov 2012 #23
Myrina Nov 2012 #76
knitter4democracy Nov 2012 #3
ladym55 Nov 2012 #9
mysuzuki2 Nov 2012 #43
AAO Nov 2012 #58
AnneD Nov 2012 #80
knitter4democracy Nov 2012 #83
AnneD Nov 2012 #85
knitter4democracy Nov 2012 #91
AnneD Nov 2012 #97
Mosby Nov 2012 #87
AnneD Nov 2012 #90
Ikonoklast Nov 2012 #4
dreamnightwind Nov 2012 #69
morningglory Nov 2012 #5
Third Doctor Nov 2012 #20
BlueJazz Nov 2012 #6
sigmasix Nov 2012 #7
HiPointDem Nov 2012 #15
Egalitarian Thug Nov 2012 #42
AnneD Nov 2012 #82
WillyT Nov 2012 #8
LuckyLib Nov 2012 #10
rrneck Nov 2012 #11
Lydia Leftcoast Nov 2012 #12
Third Doctor Nov 2012 #21
Sunlei Nov 2012 #13
Egalitarian Thug Nov 2012 #45
1StrongBlackMan Nov 2012 #79
stubtoe Nov 2012 #81
libdem4life Nov 2012 #16
DonCoquixote Nov 2012 #17
ck4829 Nov 2012 #18
Initech Nov 2012 #60
cloudbase Nov 2012 #19
Populist_Prole Nov 2012 #26
gollygee Nov 2012 #30
SharonAnn Nov 2012 #54
Skittles Nov 2012 #22
triplepoint Nov 2012 #24
TexasBushwhacker Nov 2012 #56
Mosby Nov 2012 #88
Populist_Prole Nov 2012 #25
handmade34 Nov 2012 #27
Patiod Nov 2012 #37
Rain Mcloud Nov 2012 #28
LineReply They think of employees as a COST, not an INVESTMENT.
TahitiNut Nov 2012 #29
Yo_Mama_Been_Loggin Nov 2012 #31
SheilaT Nov 2012 #32
catrose Nov 2012 #33
cthulu2016 Nov 2012 #34
LiberalEsto Nov 2012 #35
SCVDem Nov 2012 #36
Bozvotros Nov 2012 #38
RainDog Nov 2012 #39
sheshe2 Nov 2012 #40
Manifestor_of_Light Nov 2012 #41
Beartracks Nov 2012 #44
Egalitarian Thug Nov 2012 #46
Curmudgeoness Nov 2012 #48
1StrongBlackMan Nov 2012 #49
Lint Head Nov 2012 #50
caveat_imperator Nov 2012 #64
Lint Head Nov 2012 #67
patrice Nov 2012 #51
patrice Nov 2012 #52
SunSeeker Nov 2012 #53
laundry_queen Nov 2012 #63
SunSeeker Nov 2012 #65
Nikia Nov 2012 #84
SunSeeker Nov 2012 #93
Chan790 Nov 2012 #55
Initech Nov 2012 #59
NickB79 Nov 2012 #66
trueblue2007 Nov 2012 #68
blackspade Nov 2012 #70
Hekate Nov 2012 #71
MessiahRp Nov 2012 #72
davidn3600 Nov 2012 #73
leeroysphitz Nov 2012 #74
mac56 Nov 2012 #75
WinkyDink Nov 2012 #77
BlueStreak Nov 2012 #78
texshelters Nov 2012 #86
BlueStreak Nov 2012 #89
texshelters Nov 2012 #98
JoeyT Nov 2012 #94
Selatius Nov 2012 #95
texshelters Nov 2012 #99
bluescribbler Nov 2012 #92
woo me with science Nov 2012 #96
PD Turk Nov 2012 #100
Please login to view edit histories.