The 4 Big Ways That Insatiable Corporate Hunger for Profits Has Devastated American Life -- and the

This is a 'companion thread' to other one I just posted, folks. I linked to it in another thread a few days ago, but it deserves its own thread and a discussion, along with the GOPer Stephen Fincher.

The 4 Big Ways That Insatiable Corporate Hunger for Profits Has Devastated American Life -- and the World Along with It
Big business is making its way around the world like a modern-day Attila the Hun, pillaging and despoiling the planet.
May 19, 2013
The damage caused by the relentless corporate drive for profits has become more clear in recent years. In the most important areas of American life, devastating changes have occurred:

Those areas are cost-prohibitive Health Care, cost-prohibitive Education, and:

Household Wealth: Median wealth fell by 66% among Hispanic households and 53% among black households between 2005 and 2009, mainly because of the mortgage banking collapse. Almost half of Americans have ZEROwealth, with their assets surpassed by debt.

Water and Food: Life-giving seeds and drinking water have been increasingly treated as products to be bought and sold.

All these areas of life have been degraded by a free-market system that has thrived on publicly-funded research, infrastructure, and defense. Yet in a brazen show of hypocrisy, major corporations have ignored all the problems they've caused, choosing instead to cut their taxes in half despite doubling their profits, to hold 60% of its cash offshore, to eliminate workers rather than create jobs, and to reduce the pay of their remaining employees.

An Apple executive explained: "We don't have an obligation to solve America's problems."

Yeah, well, that Apple executive is scum.

The World Bank estimates the total cost for a successful attack on malnutrition would be approximately $10.3 to $11.8 billion annually. Apple alone underpaid its 2012 taxes by $11 billion, based on a 35% rate.

It may be time to update [Apple's] quote: "We don't have an obligation to solve the world's problems."

Disgraceful and horrid attitude.

I am proud to star and flag this thread. Here are the criminals who are guilty.

reply to post by groingrinder


Thanks.
I thought maybe there'd be no traffic here.

And I thought, 'what a shame' about that.
~wild

Big business is making its way around the world like a modern-day Attila the Hun, pillaging and despoiling the planet.
May 19, 2013
The damage caused by the relentless corporate drive for profits has become more clear in recent years. In the most important areas of American life, devastating changes have occurred:

I totally meant to include these remarks in the ex-text of the OP!! They are not my words, and I'm sorry if it appeared that they were.
~w

reply to post by wildtimes

Dear wildtimes,

You know that I have great respect and warm feelings for you. May I suggest that there might be another way of looking at this? But first I must tell you that I admire the work you've put into your two recent threads, you should be proud of yourself.

Health Care: Almost half of the working-age adults in America passed up doctor visits or other medical services because they couldn't afford to pay. The system hasn't supported kids, either. A UNICEF study places the U.S. 26th out of 29 OECD countries in the overall well-being of its children.

There have been many times when I have skipped the doctor when I thought it was a small enough problem that spending the money wasn't worthwhile. The UNICEF study deseves a thread of it's own, but it's results are a little questionable. I hope no one is claiming that hospitals make a huge profit. Pharmaceuticals, maybe, but not doctors and hospitals.

Education: Student loan balances increased by 75% between 2007 and 2012.

Isn't that largely fueled by government student loan programs which make more and more money available, so colleges can up their tuition? I'm not sure that qualifies as corporate hunger for profits.

Household Wealth: Median wealth fell by 66% among Hispanic households and 53% among black households between 2005 and 2009, mainly because of the mortgage banking collapse. Almost half of Americans have ZEROwealth, with their assets surpassed by debt.

Again, I think this is driven largely by government policies and consumer misjudgments.

Water and Food: Life-giving seeds and drinking water have been increasingly treated as products to be bought and sold.

Designer seeds being sold? Sure, because farmers have concluded it's a better deal for them. I think only bottled water is being sold, unless you count municipal taxes and sewer fees. That doesn't sound corporate to me either.

Yet in a brazen show of hypocrisy, major corporations have ignored all the problems they've caused, choosing instead to cut their taxes in half despite doubling their profits, to hold 60% of its cash offshore,

I don't see how that's hypocrisy, and as the Apple executive said, we're just following the tax laws the American government has written. We're following the law. Change it, and we'll probably change our behavior.

Sounds like another government problem.

Inequality continues to grow, both between and within countries. Poverty levels haven't changed much in 30 years, with almost half of humanity, up to three billion people, living on less than $2.50 a day. A quarter of the world's children - over 170 million kids under age five - are growing up stunted because of malnutrition.

Inequality in the US is based largely on the loss of wealth Americans suffered when there home values fell. It's the household wealth issue again, stated in different terms.

there IS an obligation to pay for global energy consumption and infrastructure usage and industrial pollution. Yet a review of 25 multinational companies shows clear negligence in meeting that responsibility. The 25 companies, with almost a half-trillion dollars in 2011-12 income, paid just 8% in taxes to the U.S. and 9% to foreign countries. A 35% tax -- paid to ANY country or countries -- would have generated another $90 billion over two years, four times the amount needed to battle malnutrition.

As mentioned earlier, companies are paying the taxes that the law tells them to pay. If they were cheating, fine, go after them. But the problem seems to be government policies again.

A recent study estimated that toxic pollution affects the health of more than 100 million people, shortening their productive life spans by 12.7 years on average. A related study concluded that in 2010 over 8 million individuals were at risk of exposure to industrial pollutants at 373 toxic waste sites in three low-income countries (India, Indonesia, and the Philippines).

Isn't China the world's largest polluter? And if countries don't want certain industries, they can keep them out through government action.

I know I haven't treated this satisfactorily, but I'm just trying to start a discussion with you. Corporations do good and bad things, but I don't think they're as universally bad as the source article makes them out to be.

With respect,
Charles1952

reply to post by charles1952


You know I think you are a dear, charles.
Right now I'm a little fired-up, and need to sleep on it.
I will look forward to discussing with you more tomorrow.

I am not 'closed-minded' about getting to the bottom of things, I trust that you know that.

What are they going to do with all the money at the end!?

reply to post by wildtimes


Are you suggesting that corporations not be concerned with profit?

Seems rather silly.

Are you suggesting we go to a communist system where the people control everything?

I see the outline of a problem but absolutely no solutions being put up.

reply to post by Hopechest


No, I'm not suggesting communism. (How did I see that one coming? )
A profit is fine. EXPLOITING people and stripping them of their jobs IN THE NAME OF PROFITS is the problem.
Tax evasion, runaway greed, and a corrupted system of lobbying, bribery, untaxed "capital gains", insider trading and law exceptions are the problem.

Yes, the employees should have vested interest in the company as SHAREHOLDERS - and all should receive the rewards of their work so that when the business is profitable ALL of the people WHO WORKED should get something out of it (like, not having a factory collapse around them, or being "laid off" when jobs get outsourced).

Wall Street is a runaway disaster. Technology and the hyper-fast trading that goes on has made it into a monster with a life of its own - and it's deadly for humanity.

reply to post by charles1952


Okay, charles. I read through your post more thoroughly.

I understand your points, and I realize that lack of regulation and weak laws "can" be blamed, but people TAKING ADVANTAGE of those opportunities with NO REGARD for how it affects others is more of an issue.

For example: I know a Geological Engineer. He has been working in middle management for years. He was suddenly "let go" with no notice right before the holidays in 2011. Many months passed. He found another job and had to take a 'reduction in salary', but on accepting it he told the firm, "I want a guarantee that I will not be just punted, laid off, or outsourced."

They said, "no, no, we are very much about our employees." Sounds good, right? So, he took the job.
Then, at year's end in the new position, the management gave bonuses to EVERYONE - EQUAL bonuses - from the secretaries to the salesmen and managers. ALL of them got the same bonus, based on the profits of their work over the year. The company recognizes that it takes EVERYONE to make the ship stay afloat, doing what they do, devoting themselves to the company's best interest.

I think that is responsible business management. No "law" involved, just the "right thing to do."

Yet, when the Engineer told me this story, he was pissed off about it. "The secretary?!! I mean, c'mon! Why should she get an equal bonus?"

I was shocked. "Because she works as hard as you do in her capacity." And he shook his head and said, "She didn't bring in thousands in new sales."

I said, "SO WHAT?!! She's doing her JOB, and her JOB has a place in the company!"

He couldn't understand how I could think like that. And I can't understand how he doesn't respect the fact that the secretary is an important part of the company and was recognized equally.

Why should it be a "law" to make it necessary or doable?
It isn't.
But, I do see your points. In my mind, it's immoral and negligent of the Human Resource factor. It takes EVERYONE on a team to win. Do you see my point?

I've mentioned before that I was a supervisor for the housekeeping staff at a major hotel. Their hours were getting cut, they were being pushed beyond reason to work faster and harder with no increase. The newest hires got the least hours. I saw the frustration and fear on these 'minimum wage earners' ' faces, heard it when they spoke to me, felt it as tension. Yet, the thing is that if those 75 people simply all "called in sick" on the same day (no law against it!), and it happened to be a complete turnover of a conference (every guest leaving and a new guest checking into each of the 720 rooms within six hours) then WHO IS GOING to clean all those rooms? The handful of managers?

Yeah, right. :shk: The hotel would have to shut down. And yet, the most recognition the housekeepers get is one week a year they have 'donuts' bought by management for them. It's called "housekeeping appreciation week." What a farce. I had to leave that job it made me so sick....physically sick due to the damage of my sensibilities and values. I couldn't support management in good conscience, but they were willing to go against their own moral compass "because Corporate says we have to." It's impossible for me to do that. So, I left.

reply to post by wildtimes

Dear wildtimes,

You're wonderful, I agree with you completely. (Of course, I'd still think you're wonderful even if we didn't agree, that's just frosting.) I knew we couldn't be far apart.

I understand your points, and I realize that lack of regulation and weak laws "can" be blamed, but people TAKING ADVANTAGE of those opportunities with NO REGARD for how it affects others is more of an issue.

That's the right point to make, and I'm glad you made it.

HEY ATS! READ WILDTIMES! She takes a sound position and covers it with so much passion that you may miss it at first, but the point is there and she's right.

Please allow me to quote from a recent speech by Pope Francis, which was discussed in another thread.

Dear Ambassadors, there is a need for financial reform along ethical lines that would produce in its turn an economic reform to benefit everyone. This would nevertheless require a courageous change of attitude on the part of political leaders. I urge them to face this challenge with determination and farsightedness, taking account, naturally, of their particular situations. Money has to serve, not to rule! The Pope loves everyone, rich and poor alike, but the Pope has the duty, in Christ’s name, to remind the rich to help the poor, to respect them, to promote them. The Pope appeals for disinterested solidarity and for a return to person-centred ethics in the world of finance and economics.

www.zenit.org...

I think you, I, and the Pope are on the same page.

I think that is responsible business management. No "law" involved, just the "right thing to do."

Why should it be a "law" to make it necessary or doable?
It isn't.
But, I do see your points. In my mind, it's immoral and negligent of the Human Resource factor. It takes EVERYONE on a team to win. Do you see my point?

Yes, I see your point and agree completely.

And yet, the most recognition the housekeepers get is one week a year they have 'donuts' bought by management for them. It's called "housekeeping appreciation week." What a farce. I had to leave that job it made me so sick....physically sick due to the damage of my sensibilities and values. I couldn't support management in good conscience, but they were willing to go against their own moral compass "because Corporate says we have to." It's impossible for me to do that. So, I left.

I'm glad you did, that sort of thing can corrupt most people, given enough time.

The corruption of people in power leads to tremendous suffering, whether it's corporate power, governmental, corporate, academic, or in any field. There may be some temporary relief of the symptoms, but that's not the cure. I believe that a good government is one which makes it easy for it's citizens to be good. The entire culture needs to be changed, I know it sounds like a big task but we have changed our values on sex outside of marriage, acceptance of welfare, recognition of Blacks and Gays, modest dress, and many other areas. I hope we can change people's attitudes on this subject as well.

With respect,
Charles1952

reply to post by charles1952

The corruption of people in power leads to tremendous suffering, whether it's corporate power, governmental, corporate, academic, or in any field. There may be some temporary relief of the symptoms, but that's not the cure. I believe that a good government is one which makes it easy for it's citizens to be good.

I've been waiting for your response.

Thanks.....

Originally posted by Hopechest
reply to post by wildtimes

 

Are you suggesting that corporations not be concerned with profit?

Seems rather silly.

Are you suggesting we go to a communist system where the people control everything?

I see the outline of a problem but absolutely no solutions being put up.

You don't even have to go that route. Take some time out and read Henry Ford.

So somehow it's business fault that people breed more than they can feed. Am I missing something here.

reply to post by mikell

So somehow it's business fault that people breed more than they can feed.

What??? No. Not true. False. Wrong. Ignorant. Arrogant.
OMG. I can barely believe that you said this!!!!

It's 'business fault' that people are LOSING jobs due to outsourcing and overseas relocation. You actually believe, with a clear conscience, that it is "okay" for Americans to lose their jobs so that the 'business' can pay 2 cents per hour for workers in Bangladesh who might very well be CRUSHED by a factory collapse?

Am I missing something here.

Yes, you are.
Big time.

reply to post by wildtimes


I think a lot of people only consider what their own personal experiences and contributions to the problems are and formulate their opinion based on that instead of weighing what the aggregate results are.

I take a look at a pair of shoes I own, and even though it appears completely innocuous and irrelevant in the grand scheme of things I then think about a documentary I watched where they showed how a company like Nike monetizes every single operation down to the fraction of a second and how this factors in to where they decide to set up their factories and how much their workers get compensated and I end up feeling like #.

Or when I listen to artists like Buckethead and consider his motivations for doing the things he does, I think back to grade school when I was exposed to people like Alice Walker, and when I hunger and contemplate my options I admit I do not always make the best choices and I end up feeling like #.

I could go on and on with examples, but I suppose my point is that at least I recognize that there are some serious problems, which is a step that many people are never willing to take.

This is going to sound totally cliche and borrowed, but as Julius contemplated in Pulp Fiction, I know I am the weak, benefiting from the tyranny of evil men, but I am trying real, real hard to be the shepherd.

Picture yourself as a manager. Most get a bonus at the end of the year for how much money they have saved the company. Saving money for the company equals higher profits.

These money saving practices involve, providing little to no pay raises to the employees working under you, minimal to no compensation for employee travel, and layoffs to include only the most necessary individuals.

After all, no one in there right mind would quit in this economy where it may take months to years to get reemployed. Actually its exploitation but as a manager, would you do your best for the company?

For everyone's enjoyment (I promise it's on-topic):

reply to post by charles1952



Doctors make massive profits. I hear "well, they take on the risk and have large insurance payments". Um, all business pay something akin to malpractice. I pay it for my business to the tune of over 6 digits a year. Just in case a screw comes loose and bonks someone on the head or something.

But regardless of all that, doctors still make massive amounts of profit. Margins upwards of 50-70%. The harm to the economy is that so many are foreign doctors who export a portion of their earnings by sending it to family "back home". My wife has worked for two small town doctors running modest private practices. They each brought in more than 8mil/year. And would send anywhere from 20k to 100k overseas. One of them was before the patriot act, and he was accused shortly after 9-11 of helping fund the Taliban.

Originally posted by Hopechest
reply to post by wildtimes

 

Are you suggesting that corporations not be concerned with profit?

Seems rather silly.

Are you suggesting we go to a communist system where the people control everything?

I see the outline of a problem but absolutely no solutions being put up.

Wow. See you disagreeing with most of the threads on ATS. Of course that is your right, but are you a disagreeable person by nature or just on here? Are you trying to look like a sock puppet?

Wouldn't you feel more at home at some site that is less conspiracy/activist oriented? Maybe places like these:

Red State

Beyond Evangelical