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angrychair

(8,594 posts)
Tue Oct 3, 2017, 04:40 PM Oct 2017

Corporate 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.

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Corporate profiteering on tragedy (Original Post) angrychair Oct 2017 OP
I'm sorry, I'm glad they did that. I hope other companies do too. Hoyt Oct 2017 #1
As I said angrychair Oct 2017 #2
They could have, but they did what very few did. Hoyt Oct 2017 #3

angrychair

(8,594 posts)
2. As I said
Tue Oct 3, 2017, 05:31 PM
Oct 2017

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.

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