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View Diary: They Wouldn't Pay You if They Could Get Away With It - UPDATED x 2 (136 comments)

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  •  Well said (3+ / 0-)
    Recommended by:
    nchristine, FindingMyVoice, LSophia

    What's also taking place is the natural consequence of megalithic investment firms taking control of companies. Shareholders used to be a lot of people and executives had to court their favor or be fired themselves. Now many companies are controlled by a handful of shareholders with gigantic stock holdings and it's easy for them to collude with management to enact the most predatory practices possible. They pretend it's all in service to future performance, as the press release states. The fact is when companies today generate huge, some would say obscene, profits, the leadership of the company instantly seem to adopt a Depression-era panic mentality, as if everything they built is going to somehow blow away overnight.

    In general top corporate executives and the brokers at giant investment firms share anti-social personality traits. Rather than working to improve standards, practices and performance at the companies they run, they'd much prefer to gather power in order to lord it over the rest of us like the sick fucking psychopaths they are.

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