This is the word I was looking for. Predatory Capitalism. This is the practice of squashing the little guy to line your pockets.
Here is a thought, publicly traded corporations have a legal responsibility to their shareholders to maximize profits at any cost. Doesnt the nature of this beast create predatory capitalism by nature. Dont they have to lie, cheat, squish, outsource, steal, destroy, live and die for the bottom line?
Is this not pure evil?
As far as non predatory capitalism (the little guy with the good idea) thats a different beast
I watched the high cost of low price last night. Robert Greenwald is no Michael moore. It was boring but made a point.
Thank God I dont work for a publicly traded company.
I believe there needs to be regulation to stop these beasts from ruining, raping, and pillaging the world.
Also another topic, Health Care. Its a right and cannot be humanely managed by a soul-less for profit corporation.
I am to the point that Dennis Kucinich is the only presidential candidate I can stand> He has no chance of winning but I am going to vote for him anyway
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"...publicly traded corporations have a legal responsibility to their shareholders to maximize profits at any cost."
I don't think "at any cost" is part of their legal obligation, but I do agree that there are some companies that act as if it is. I don't want to rehash stuff I've already said, but I don't think it's fair to conclude that every publicly traded company is without conscience any more than it's fair to say that every democrat is a spineless commie or that every evangelical is a judgmental bastard.
Dorsey,
Thats the wonder of this great nation. We can disagree.
I would like to ask if you can name one publicly traded corp that has done the right thing when it wasnt in the best interest of their bottom line or they were not forced to do so by the government.
I am always pliable and willing to change my views in the sight of proof.
If you want to get more depressed and outraged, rent MaxedOut. The major banks are pretty scummy, too. (and by "pretty," I mean "very.").
They've got blood on their hands.
Y'know, that's a very loaded question, because you assume that doing good must oppose the bottom line. I could bring up the Red campaign, or the hundreds of millions of dollars that the Target Corporation pours back into its community, or any of the thousands of corporate philanthropic programs that exist. Does the fact that these companies ultimately derive a benefit nullify the good that they did? I don't think it should.
But to answer your question, yes. My sister-in-law suffers with Multiple Sclerosis. Because of a job change and the timing of her benefits, her insurance wouldn't cover her treatment. Later that year, she was at some sort of event where a number of medical and pharmaceutical companies had set up exhibits. She got into a conversation with one of the big pharma reps, whose company manufactured the weekly injection that she needed to keep her MS under control. The price tag on this drug was over $1,000/month, partly because it is so fragile, that it has to be used within a couple weeks, and requires special handling. After hearing her story, the rep asked for her name and number. He called her the following week and told her that the company was going to give her the medication. For over six years, they have been sending my sister-in-law weekly packages at no cost. I'm sure there's a cynical spin that can be put on this story, but I think it's pretty damned decent.
Again, please don't think I'm the poster boy for big business. I'm not. A lot of companies are indifferent to their responsibility to be good citizens. But I don't think it's fair to paint them all with such a broad brush. And I know that you won't affect any change at all by standing around calling them the devil. That's my only point.
(If you email me, I'll tell you the name of the company).
Dorsey,
You raise some good points and some examples of corporations doing good. I guess my point about the bottom line still stands but I am getting burnt out on this and I will lay off for a while. You are right that calling them the devil isnt helping.
Ninjanun,
I might watch that movie too. Your statement put some perspective into this. My passion about this is causing me to become outraged and depressed. I think I will chill for a while and at least regroup my thoughts.
watch Bill Moyer's interview with John Bogle (former CEO of Vanguard) this week
http://www.pbs.org/moyers/journal/index-flash.html
to hear a great discussion on capitalism in this day and age.
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