Google| Subject | Re: Calumet files Chapter 7 |
| From | PeterN |
| Date | 03/24/2014 14:38 (03/24/2014 09:38) |
| Message-ID | <lgpcgh02n8v@news1.newsguy.com> |
| Client | |
| Newsgroups | rec.photo.digital |
| Follows | Martin Brown |
On 3/24/2014 6:36 AM, Martin Brown wrote:
Martin BrownWhich was one of the reasons banks were originally prohibited from getting into non-banking businesses.
On 23/03/2014 00:37, Eric Stevens wrote:Eric StevensMartin Brown
On Sat, 22 Mar 2014 10:38:49 -0400, Robert Coe <bob@1776.COM>wrote:Robert CoeEric Stevens
And where is it written that even good corporations should be insulated from any form of public ownership? Corporations aren't reluctant to seek public "bailouts", willingly trading bonds or ownership stakes to get them.
It takes _two_ willing parties to do a deal.
No it doesn't. Try negotiating on price with a ticking bomb on the table and a gun held to your head, when you have toothache with a dentist, or bleeding to death with a US medic...
The banks were "too big to fail" and as such were able to completely screw over the tapayers in a "heads we win tails you lose" scam.
Shareholders never halt the increase the remuneration for CEOs in an unending spiral whilst simultaneously laying off workers to drive wages for the peons down. US and UK CEO to median wage ratios are obscene.In theory, I own x% of xx corporation. I, together with the other shareholders hire someone to manage the company. We are simply investors. If the manager makes money for me, I will happily pay him. Without me supplying the money and xx managing the company, there would be no company. Since management is paid based upon financial success, the Harvard B school teaching comes into play. Management makes decisions that will produce immediate profits. Money that should be set aside for future growth is not part of profits. therefore management has a built in conflict between the long term good of the company, and their pockets.
It is no surprise that they all sit on each others remuneration committees and make trite claims like "we are all in it together".-- PeterN
03/13/2014-
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