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View Diary: CA-Sen: Carly Fiorina's priorities (280 comments)

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  •  What's Best for Business? (3+ / 0-)
    Recommended by:
    drewfromct, Zack from the SFV, kurt

    Best solely for shareholders?
    Best solely for CEOs, Board Members and top mgmt?

    We're in tough times now so different rules apply.

    But the M&A orgy of the last 20 years, funded in large part by unsustainable debt (watch the huge corporate bond re-sets in the next 4 years from some of those mergers that defied rules of "basic economics") was built on a very narrow and short-term definition of who "business" is and what "best" means in both nature and duration.

    If I create a job, the salary and expenses of that position are deductions from the income on which taxes are paid.

    But we've abandoned the idea that improving our employees purchasing power will improve all businesses and improve our communities.

    We're locked in a death race to the bottom with societies that don't protect employees, don't preserve the environment and don't assure the safety or quality of their products.  

    On the upside, we can buy that product (tainted in so many ways as it is) a few bucks cheaper at the BIG BOXMART store. (The fact that those savings are far exceeded by the relative drop in our purchasing power is not of concern to those whose purchasing power has sky-rocketed under this new definition of what's 'best for business'.

    If you say "Let them eat cake", don't accuse the offended peasants of feeling "entitled". It makes them nostalgic for their knitting.

    by Into The Woods on Thu Jun 10, 2010 at 11:04:05 AM PDT

    [ Parent ]

    •  What's best for business (0+ / 0-)

      is profit, measured in various ways. Could corporate structure rules be reformed? Right on! But that's exactly what I was talking about—something that government needs to do. All the corporation should be expected to do is to follow the rules. Tough times don't mean that different rules apply, unless you have a rule about what is meant by "tough times" and then specify what changes take place.

      •  Corprate Culture - Not Just Structure (0+ / 0-)

        I really don't know if you can regulate the current culture out of existence.

        You can remove some of the most obvious financial incentives that reduce the percieved risk and magnify the short-term profit.

        You can bring 'new' exotic instruments under the regulatory rules created to facilitate and preserve (not shackle) the free market and by doing so redirect some of that huge amount of money now captured by private wagers into more constructive investments.

        Bad times = last 18months - i.e. Great Recession exceeded in recent history only by Great Depression of the 30s.  That's my definition of bad times and yes, what I would consider proper and appropriate in terms of layoffs, wage freezes or cuts, benefit reductions is different during that time from what I would consider proper and appropriate when the goal is not survival but carving off more money from the 95% to further enrich the already wealthy 5% - which is what happened over the last 20 or more years.

        If you say "Let them eat cake", don't accuse the offended peasants of feeling "entitled". It makes them nostalgic for their knitting.

        by Into The Woods on Thu Jun 10, 2010 at 01:43:47 PM PDT

        [ Parent ]

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