So simply because you don't have something, no one else should either? You sound like my kids. It's not fair! He got candy and I didn't! There are many things you probably don't have. Let's start with a heart..... When any corporation makes a cut, just because they can, it doesn't make it correct, beneficial, or anything but greedy. Why should we share holders pay for the benefits of a retiree? Because they were promised benefits as part of their compensation package. Need another reason? That employee is part of the reason BB&T is where it is today, why the stock is over $42 today. How many employees are really going to go the extra mile and work their rear end off when they know they can be screwed at will at the end of their career. And don't hand me any crap about finding another job if you don't like what's going on. That's all it is, a load of crap. Our quality of life in America is sinking quickly because of thinking like yours. What happened to working hard to get ahead instead of whining about how well another individual may be doing. Economic slavery is every bit as reprehensible as physical slavery and that is where this country is headed.....to the company store. When did we lose the concept that one could actually work hard and expect to be rewarded? And promises to be kept? Not to be told at every turn about how lucky you are to even have a job.
<<<When any corporation makes a cut, just because they can, it doesn't make it correct, beneficial, or anything but greedy.>>>
The only purpose of stocks is to make their shareholders money thus by their very nature they are greedy. Stocks/companies are not living creatures thus they have no morals. The market does not reward stocks/companies, that are politically correct but underperforms the market. The market DOES reward companies that have increasing earnings, even if those earnings come from taking away prescription drugs from retired employees. The market does not really care about what is morally right or wrong as long as it makes money. All the market cares about is earnings and the pressure is on CEO�s to increase those earnings.
Good or bad this is the reality of the United States. It�s much different in Europe where companies keep their promises to their employees�but then again America has demonized Europe so we won�t be going in that direction any time soon.
I do not disagree that the purpose of a corporation is to make money for shareholders. I am a shareholder myself. I expect a return on my investment. I do not expect to get rich from every stock I own. There is a difference between profit and greed. Microsoft crossed that line with their one time dividend of $3 per share a few months back. Unfortunately (or fortunately), I have this notion that companies and technology exist to serve mankind, not the reverse. My problem is with analysts and the premise that every company has to significantly increase earnings every quarter without fail. It is not possible and a company unfortunate enough to miss expectations (reasonable expectations or not)gets crucified. Part two: what is a reasonable return? We allow are selves to accept the notion that corporations are not living creatures and have no morals. Corporations are run by people..... The vast majority of which do have morals. If we continue to accept what is happening, without fighting back, minumum wage will be the norm for everyone from fast food to CEO.