Two days ago the top CEO's in the U.S. met together to discuss the corporate philosphy that has been prevalent in the U.S. since the 70's. The idea of shareholders/profit coming before all else. The conclusion was met that shareholders shouldn't always come first which is a huge shift in rhetoric from the past 50 years. All things considered all the CEO's did was sign a document but if they actually mean what they said and begin implementing change ot could mean that the U.S. will have a stronger workforce than ever before.
by metalman · 5 comments 5 years ago
heywood · 5 years ago
Yeah, good luck with that. Company I work for got billions in tax breaks and promised to hire thousands of new employees. Two years later they’ve laid thousands off and are demanding we give up benefits and wages we already have. Oh and they’re celebrating record profits even after buying several other multi billion dollar companies.
I’ve always considered my self a Libertarian but honestly I’ll never support corporate tax cuts again.
scatmandingo · 5 years ago
The problem isn’t the CEOs. It’s the day traders who want volatility in the market. If you don’t report increased profit every quarter they will dump your stock. The days of investing in the fundamental strengths of a company went away with flash trading. It’s all just ticker symbols and predictive algorithms. Will CEOs ignore their stock price despite their personal wealth being closely tied to it? We shall see.
heywood · 5 years ago
CEOs “earn” the majority of their pay from stock options. They make money for investors but they make a lot more for themselves.
interesting · 5 years ago
Truth be told most fortune 500 companies arent that bad and a lot of them are deeply invested in their employees. That being stated, once you start getting close to the fortune 50 or fortune 100 companies you start seeing some truly questionable practices.
deleted · 5 years ago
Shareholder capitalism has been a catastrophe for average Americans.
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