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Originally posted by McGotti
Most real hard working people do not know that they need to step on as many people as they can to reach their own finacial goals...and most of the people at the bottom are people that were unaware about this dog eat dog...stab your co-worker in the back mentaility that is the american workplace.
I by now probably could have been making alot more money and been in a higher position if I had been as selfish and back-stabbing as the people that I see get promoted.
All this leads to the fact that most U.S. workers that desreve a nice pay check are usually giving way to the more selfish people who have learned the rules to the game that is success in the work place.
[Edited on 11-3-2004 by McGotti]
Outsourcing the American Economy
By PAUL CRAIG ROBERTS
Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing's benefits, corporate outsourcers sponsor misleading one-sided "studies."
Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing's impact. But so far there has been no debate, just a shouting down of skeptics as "protectionists."
Now comes an important new book, Outsourcing America, published by the American Management Association. The authors, two brothers, Ron and Anil Hira, are experts on the subject. One is a professor at the Rochester Institute of Technology, and the other is professor at Simon Fraser University.
The authors note that despite the enormity of the stakes for all Americans, a state of denial exists among policymakers and outsourcing's corporate champions about the adverse effects on the US. The Hira brothers succeed in their task of interjecting harsh reality where delusion has ruled.
In what might be an underestimate, a University of California study concludes that 14 million white-collar jobs are vulnerable to being outsourced offshore. These are not only call-center operators, customer service and back-office jobs, but also information technology, accounting, architecture, advanced engineering design, news reporting, stock analysis, and medical and legal services. The authors note that these are the jobs of the American Dream, the jobs of upward mobility that generate the bulk of the tax revenues that fund our education, health, infrastructure, and social security systems.
The loss of these jobs "is fool's gold for companies." Corporate America's short-term mentality, stemming from bonuses tied to quarterly results, is causing US companies to lose not only their best employees-their human capital-but also the consumers who buy their products. Employees displaced by foreigners and left unemployed or in lower paid work have a reduced presence in the consumer market. They provide fewer retirement savings for new investment.
Nothink economists assume that new, better jobs are on the way for displaced Americans, but no economists can identify these jobs. The authors point out that "the track record for the re-employment of displaced US workers is abysmal: "The Department of Labor reports that more than one in three workers who are displaced remains unemployed, and many of those who are lucky enough to find jobs take major pay cuts. Many former manufacturing workers who were displaced a decade ago because of manufacturing that went offshore took training courses and found jobs in the information technology sector. They are now facing the unenviable situation of having their second career disappear overseas."
American economists are so inattentive to outsourcing's perils that they fail to realize that the same incentive that leads to the outsourcing of one tradable good or service holds for all tradable goods and services. In the 21st century the US economy has only been able to create jobs in nontradable domestic services-the hallmark of a third world labor force.
Prior to the advent of offshore outsourcing, US employees were shielded against low wage foreign labor. Americans worked with more capital and better technology, and their higher productivity protected their higher wages.
Outsourcing forces Americans to "compete head-to-head with foreign workers" by "undermining US workers' primary competitive advantage over foreign workers: their physical presence in the US" and "by providing those overseas workers with the same technologies."
The result is a lose-lose situation for American employees, American businesses, and the American government. Outsourcing has brought about record unemployment in engineering fields and a major drop in university enrollments in technical and scientific disciplines. Even many of the remaining jobs are being filled by lower paid foreigners brought in on H-1b and L-1 visas. American employees are discharged after being forced to train their foreign replacements.
US corporations justify their offshore operations as essential to gain a foothold in emerging Asian markets. The Hira brothers believe this is self-delusion. "There is no evidence that they will be able to outcompete local Chinese and Indian companies, who are very rapidly assimilating the technology and know-how from the local US plants. In fact, studies show that Indian IT companies have been consistently outcompeting their US counterparts, even in US markets. Thus, it is time for CEOs to start thinking about whether they are fine with their own jobs being outsourced as well."
The authors note that the national security implications of outsourcing "have been largely ignored."
Outsourcing is rapidly eroding America's superpower status. Beginning in 2002 the US began running trade deficits in advanced technology products with Asia, Mexico and Ireland. As these countries are not leaders in advanced technology, the deficits obviously stem from US offshore manufacturing. In effect, the US is giving away its technology, which is rapidly being captured, while US firms reduce themselves to a brand name with a sales force.
The McKinsey report "should be viewed as a self-interested lobbying document that presents an unrealistically optimistic estimate of the impact of offshore outsourcing and an undeveloped and politically unviable solution to the problems they identify." www.counterpunch.org...
2007: The Staggering Social Cost of U.S. Business Leadership (.pdf) This year we find that average CEO pay is 364 times the pay of an average US worker. faireconomy.org...
For fourteen years, in conjunction with the Institute for Policy Studies, UFE has published an annual report – Executive Excess (PDF) – comparing the pay of top CEOs to average workers.
We believe that the lack of pay equity in the US can be addressed by changing the rules. The better informed average workers are, the more they will be empowered to generate changes. faireconomy.org...
In addition to reports, we organize shareholder actions and support policy efforts by others.
Local is Global: "Shrink, Shift and Shaft"
We have observed a growing trend in modern "free" market systems that aims to institutionalize the financial interests of a wealthy minority at the expense of the needs of the impoverished majority. Nationally, this is accomplished through a strategy we call "shrink, shift and shaft":
•shrink public sector services and the power of democratic institutions and organized labor;
•shift the tax burden from the wealthy (owners and investors) to the worker;
•shaft those left behind by eliminating good paying jobs and eroding the social safety net.
The "shrink, shift and shaft" strategy relies on our government's ability to gain and maintain access to cheap labor markets and natural resources. Such tactics not only pit US workers and communities against each other and against those of other countries in a brutal race to the bottom; they also repress resistance against economic and ecological exploitation.
This economic model, often called neoliberalism, has yielded injustice, suffering, unemployment and a state of constant insecurity for the vast majority of the world's population.
Outrageous executive pay is symptom of a disease that has infected our entire economic system. It is a disease of greed and corruption made worse by the Bush administration’s obsession with further deregulating Wall Street and ideological aversion to oversight and accountability in our financial system.
While overpaid executives do well in the good times and bad (and they do very, very well indeed), America’s working families are bearing the worst economic crisis in our country since the Great Depression. Whether measured in lost jobs and homes, lower earnings, eroding retirement security or devastated communities, workers have paid the price for Wall Street’s greed.
But it gets even worse. The cost of deregulation and financial alchemy are far higher than the devastating direct effects on workers. The lasting damage is in missed opportunities and investments not made in the real economy. While money poured into exotic mortgage-backed securities and hedge funds, our pressing need for investments in clean energy, infrastructure, education and health care went unmet.
To fix our broken system we must re-regulate our financial markets. Just as passing the Employee Free Choice Act is central to securing the economic future of America’s working families, so is ensuring our financial markets are regulated.
The good news is that the framework for the needed financial services regulatory reform already is in front of us. The Special Report on Regulatory Reform by the Congressional Oversight Panel identifies the key principles essential for meaningful financial reform. The panel was established by Congress to monitor the bailout and to help ensure that aid to the financial sector is accompanied by meaningful market reforms. The report concluded that “the present regulatory system has failed to effectively manage risk, require sufficient transparency and ensure fair dealings.”
The new rules we need can be put this way: No more gambling with public money, no lying and no stealing. Self-regulation is not acceptable. Any regulator of system wide risk must be a fully accountable body and should not have the power to override investor and consumer protections.
U.S. Rep Barney Frank (D-Mass.) and Sen. Christopher Dodd (D-Conn.), chairs of the House Finance Committee and the Senate Banking, Housing and Urban Affairs Committee, respectively, are working on new financial regulations right now. But banks, CEOs and their corporate lobbyists are working hard behind the scenes to make sure whatever new regulations are passed are toothless Band-Aids, designed to maximize PR benefit, not fix the system.
Take action today and tell Frank and Dodd we're counting on them to draft legislation that truly strengthens our financial regulations and begins curing the disease that has infected our economic system. We can’t afford not to.
A chief executive officer of a Standard & Poor's 500 company was paid, on average, $10.4 million in total compensation in 2008, according to preliminary data from The Corporate Library.
Excessive executive compensation has taken center stage since the government bailout of banks that began in September 2008. Americans have expressed outrage as CEOs and other executives responsible for the financial crisis have pocketed millions of dollars from bonuses and golden parachutes. CEO perks alone grew in 2008 to an average of $336,248—or nine times the median salary of a full-time worker. Meanwhile, the economy tanked for working people while many companies were bailed out with more than $700 billion in taxpayer money, as well as low-interest loans and guarantees.
The case studies here focus on 10 executive compensation practices that define a broken system in which the American taxpayer is left holding the bag. Also in Executive PayWatch, you can find CEO compensation data for some of the country's largest companies, compare your pay to the CEOs, learn more about executives enjoying job and retirement security while fighting to keep workers from getting contracts, find out what you can do to put balance back into our economy and play a satisfying online game: Boot the CEO. www.aflcio.org...