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View Diary: I'll gladly pay you in retirement for the work you do today (26 comments)

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  •  They do because they can (2+ / 0-)
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    KarenJG, FarWestGirl

    As long as public financing is necessary part of operating a corporation, there will be hired-gun CEOs and there will be Boards of Directors and stockholders to whom the CEO and Board are beholden.  The result will inevitably be overpaid CEOs whose purpose is to maximize short-term profits, sometimes at the expense of the company and its workers.

    If you get right down to it, shareholders are just as predatory as CEOs and board members.  Shareholders are forever shuffling their stock portfolios in order to maximize dividends, which puts businesses in competition for investment financing.  The bloodthirstiest tend to win, and fixing this is a diary unto itself.

    None of the above change the fact that providing some sort of secure pension for the greatest number of people means fully understanding the problems inherent to funding pensions.  A 2-dimensional view in which corporations and their CEOs are always at fault is a view that is doomed to failure because it doesn't consider all the inputs to a rather dynamic problem.

    "First they ignore you, then they laugh at you, then they fight you, then you win". Mohandas K. Ghandi

    by DaveinBremerton on Sun Jan 23, 2011 at 12:37:37 PM PST

    [ Parent ]

    •  Well, I agree (3+ / 0-)
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      KarenJG, Dude1701, FarWestGirl

      But I don't exactly have a 2-dimensional view on it.

      We haven't even discussed the role that congress plays when they play pension legislation and protection games.

      I use the role of corporations and CEOs as a starting point for the discussion and the blame, since I'm a labor advocate.  There are certainly situations where labor should adjust for bad times, and there are a number of ways these adjustments can be made.

      But don't try starting a discussion with workers about austerity and bad times while raking in the biggest compensation packages in the history of the universe, after you've stolen pension profits and spent them.  That's dishonest.

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