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Growth At Any Cost
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Whatever you think of the Occupy Wall Street movement, you have to address whether they have a point when you see how companies flush with cash use the money to buy back stock while they continue to lay off workers. That happens because the management feels that its primary duty is to the shareholders and not either to the workers nor the long-term health of the company (and the economy). Buybacks help artificially inflate share prices in the short term (and earn bonuses) by reducing the number of outstanding shares, but they mask a lack of growth. So, if business is actively looking to help the shareholders and screw the workers in the name of pumping up their share prices and bonuses, does that mean that the OWS crowd is, at least in one way, right? (New York Times)
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