General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsCorporate profiteering on tragedy
It was announced that MGM Grand was giving $3 million dollars to the Las Vegas victims fund.
Sounds great and gets them great press.
Except their 2017 1st quarter profits is $2.1 billion dollars. So giving $3 million is insignificant just in comparison to their 1st quarter profits alone.
http://mgmresorts.investorroom.com/2017-04-27-MGM-Resorts-International-Reports-First-Quarter-Financial-And-Operating-Results
These type of gifts are financially insignificant publicity stunts.
While everything is helpful it pales in comparison to the need and their ability to contribute in a meaningful way.
Hoyt
(54,770 posts)Giving is great but they could easily give 10s of millions if not more with a negligible impact to their diluted earnings per share.
I just despise the the constant need to work an angle by corporations that take so much and return so little.