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View Diary: CRACK!: Bank of America Downgraded (234 comments)

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  •  Harvard business review advice re OWS (31+ / 0-)

    to businesses:

    So if Occupy Wall Street is leaderless and unfocused, why isn't it going away? The persistence of the "occupations" is a signal that there is authentic, deep-seated unhappiness with the failings of the U.S. economic system. It's an indicator that economic inequality is perceived as an important issue — one requiring business's immediate attention.

    ...Here are a couple of things corporate America can do: First, businesses need to address the protesters' key points — that a very low percentage of Americans possess a disproportionately large slice of wealth and that there's a high ratio of average CEO pay to average employee pay in the U.S., compared with other countries. This assertion that economic inequality is persistent and rising is on target, as both academics and unions have shown.

    ...Second, businesses should find ways of empathizing with protesters' frustrations on points of genuine concern. This empathy could be expressed by individual business leaders (as Laurence Fink of BlackRock did) or by the business as a whole (as Ben & Jerry's did). Companies like Google that have a history of contributing to social causes or billionaires with established records of giving such as Bill Gates and Warren Buffett are best positioned to lead the engagement from the side of business. That should not, however, be a reason for other business leaders and businesses to remain on the sidelines of the conversation started by the protesters. Any open and sincere engagement by businesses will show that the commercial world is not content being seen as part of the problem and is keen to be part of the solution. Even if businesses entirely disagree with the demonstrators' viewpoints, they need to approach the protesters as equals in public discourse. Business leaders' views will be better received if they are presented with humility.


    Earth provides enough to satisfy every man's need, but not every man's greed. Mohandas K. Gandhi

    by Patriot Daily News Clearinghouse on Fri Oct 14, 2011 at 09:22:56 AM PDT

    [ Parent ]

    •  yes, a few more crumbs will solve everything (5+ / 0-)
      Recommended by:
      liberte, Cliss, Ian H, Laconic Lib, farlefty

      I'm not being sarcastic; it might be just that easy for corporate America to buy us all off, but that would mean OWS will have failed.

      Do you know why they call it the American Dream? Because it only happens when you're asleep.

      by Visceral on Fri Oct 14, 2011 at 09:42:06 AM PDT

      [ Parent ]

    •  OWS (9+ / 0-)

      was built around the same principal as the Internet - de-centralized, and without any controlling authority, so that parts can be lost, and the rest just fills in.

      I am not religious, and did NOT say I enjoyed sects.

      by trumpeter on Fri Oct 14, 2011 at 09:45:07 AM PDT

      [ Parent ]

    •  Ha ha ha. Those little bastards do not have the (3+ / 0-)
      Recommended by:
      Laconic Lib, wonmug, farlefty

      courage to engage with the 99%, and besides, they would come off soooo insincere that- well, too little too late.  Even if they did try, we really need to cut their balls off.  Then we might change something.  In my humble opinion,(sorry Harvard), they better take some action instead- along the lines of "stop fucking us" and leave the approaching for later!

      This "Trickle Down" thing has turned out to be somebody pissing on my leg and tellin' me it's rainin'.

      by swtexas on Fri Oct 14, 2011 at 01:30:26 PM PDT

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      •  That's what they buy Senators & Congress critters (4+ / 0-)
        Recommended by:
        Laconic Lib, wonmug, NoMoreLies, farlefty

        to do.  And these highly compensated financial managers are totally blind to the obvious reasons for this bought constituency being a critical problem, crass political corruption, in the minds of the 99% of the rest of us.

        “Who do you think pays the taxes?” said one longtime money manager. “Financial services are one of the last things we do in this country and do it well. Let’s embrace it. If you want to keep having jobs outsourced, keep attacking financial services. This is just disgruntled people.

        He added that he was disappointed that members of Congress from New York, especially Senator Charles E. Schumer and Senator Kirsten Gillibrand, had not come out swinging for an industry that donates heavily to their campaigns. “They need to understand who their constituency is,” he said.

        Okay, I bolded that last part, although it should leap out for most people with 'traditional' understandings of constituencies and how elected representative government is claimed to work here.  In a couple of pithy quotes, the vast disconnect between Wall Street's elite and the rest of us merely civilian 99 percenters is perfectly typified.  Along with asserting all the protesters are just disgruntled people, and that they can't possibly be of the working middle class. (Since they'd be too busy trying to keep their jobs and survive another month?)

        Yes, not snark, not The Onion. They really did say that, according to the NY Times ace financial sector reporter Nelson Schwartz:

        In Private, Wall St. Bankers Dismiss Protesters as Unsophisticated

        Yep, Mr. Schartz is the same reporter who also got the inside scoop that BoA was busy preparing in advance of possible avalanche of negative WikiLeaks revelations.

        We need to be putting the question to all our Senators (and elected officials) and demand some real accountability and honesty, "Just who do you esteem as your real constituents and exactly where do the rest of the 99% of us really fit in?  What percentage of loyalty to you actually feel you have to the 99% of the rest of us?"

        When life gives you wingnuts, make wingnut butter!

        by antirove on Fri Oct 14, 2011 at 09:28:15 PM PDT

        [ Parent ]

    •  I hate Bill Gates so he isn't a good example (2+ / 0-)

      thanks for the information, PDNC.

      We don't need any more moldy crumbs. This is what he is taking about.

      People are more important than profit. They can start with that morality.

      The radical Republican party is the party of oppression, fear, loathing and above all more money and power for the people who robbed us.

      by a2nite on Fri Oct 14, 2011 at 02:02:46 PM PDT

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      •  Expecting morality from corporations is insane... (7+ / 0-)

        If by acting morally they put themselves at a disadvantage vis-a-vis the competition, then acting morally is nothing short of suicide.  That's why have to have strong, rigorously enforced regulations, because corporations literally can't police themselves if they want to survive.

        Yes, I'm aware that there have been a few exceptions, but Ben & Jerry's sold out, the old HP is gone, and that's all I got off the top of my head.  

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