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Response to Zalatix (Reply #75)

Fri Dec 30, 2011, 10:21 PM

80. There needs to be a collective change in the way companies think

Right now there is only focus on the next quarter. Every other company is out to best another company in next quarter. They've done this over the past few decades by using accounting tricks, cutting jobs, offshoring jobs, cutting benefits, stacking government in their favor, etc. And somebody at the top is getting a lucrative bonus for doing these things, because in the immediate short term, it does make the company more profitable. In the long term, they are clearly eroding their own source of long-term income, the American consumer. The elite job-killing bonus-takers do not toss enough money amongst themselves to make up for the unemployed consumer base. Nobody in Corporate America cares anything about this long term view because most of their compensation is tied to how well they do next quarter.

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