Results 51 to 69 of 69
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07-13-2020, 08:17 AM #51
that I was stupidly way late to the game. I actually beleived we were there to maximize shareholder wealth and made decisions from that basis. Somewhere Al Pachino from scent of a woman is screaming GET THE FUKIN EARWAX OUTTA YER EARS.
Looking back corporate america Is all about maximizing MY wealth. fuck everyone and everything else.
Not bitter, and can't really complain, but wished' Ida learnt that a whole lot sooner."Can't you see..."
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07-14-2020, 07:17 PM #52Registered User
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I don’t actually have a problem with corporate America. I think corporations have definite advantages over other types of businesses, although not in all cases.
Also, I think greed is good.
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07-14-2020, 09:05 PM #53
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07-15-2020, 05:15 AM #54Registered User
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07-15-2020, 06:06 AM #55man of ice
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07-15-2020, 06:18 AM #56
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07-15-2020, 06:40 AM #57
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07-15-2020, 06:50 AM #58Registered User
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I think this varies by industry, I can see your POV coming from the medical field. In my industry, CPG/ distribution, the vast majority of the executives I deal with worked their way to the top.
Also, there’s many MBA folks out there who worked a full time job, had kids and earned their MBA at the same time...I did it and it was extremely hard so don’t under sell that. Now if we’re talking a 26 yo w/ no work experience that is different.
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07-15-2020, 07:06 AM #59
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07-15-2020, 07:09 AM #60
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07-15-2020, 07:36 AM #61Registered User
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That’s kind of what I assumed...asinine decisions poolside are even better.
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07-15-2020, 07:42 AM #62Rope->Dope
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07-15-2020, 08:25 AM #63
What do you hate most about Corporate America?
Stakeholder theory has been taught at business school for at least thirty years
Unfortunately leaders are incentivized to ignore stakeholders
I have found working for small companies difficult
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07-15-2020, 08:31 AM #64
Following the BLM protests we received an email with a video clip titled “A Message about Inclusion and Diversity” from our 45yo, white, male, Mormon “Chief People Officer” where he tasked the one African American executive in the company to lead a committee to increase our diversity.
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07-15-2020, 08:38 AM #65
Elizabeth Warren made a similar point years ago and got vilified for it (by some):
“I hear all this, you know, ‘Well, this is class warfare, this is whatever,’” she said. “No. There is nobody in this country who got rich on his own. Nobody.
“You built a factory out there? Good for you. But I want to be clear: you moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did.
“Now look, you built a factory and it turned into something terrific, or a great idea? God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.”
"fuck off you asshat gaper shit for brains fucktard wanker." - Jesus Christ
"She was tossing her bean salad with the vigor of a Drunken Pop princess so I walked out of the corner and said.... "need a hand?"" - Odin
"everybody's got their hooks into you, fuck em....forge on motherfuckers, drag all those bitches across the goal line with you." - (not so) ill-advised strategy
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07-17-2020, 07:25 AM #66On eve of bankruptcy, U.S. firms shower execs with bonuses
Nearly a third of more than 40 large companies seeking U.S. bankruptcy protection during the coronavirus pandemic awarded bonuses to executives within a month of filing their cases, according to a Reuters analysis of securities filings and court records.
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J.C. Penney has not posted an annual profit since 2010 as it has struggled to grapple with the shift to online shopping and competition from discount retailers. The 118-year-old chain, at various points, employed more than 200,000 people and operated 1,600 stores, figures that have since been cut more than half.
On May 10, J.C. Penney’s board approved compensation changes that paid top executives, including CEO Jill Soltau, nearly $10 million. On May 13, Soltau received a $1.7 million long-term incentive payment and a $4.5 million retention bonus, court filings show.
The annual pay of the company’s median employee, a part-time hourly worker, was $11,482 in 2019, a company filing shows.
J.C. Penney filed for bankruptcy two days after paying Soltau’s bonuses. At a hearing the next day, a creditors’ lawyer argued the payouts were designed to thwart court review. The payouts were timed “so that they didn’t have to put it in front of you,” said the lawyer, Kristopher Hansen, addressing U.S. Bankruptcy Judge David Jones.
Jones - who is also overseeing the Whiting Petroleum, Chesapeake Energy and Neiman Marcus cases - told Reuters that such bonuses are “always a concern” in bankruptcy cases. “That said, the adversarial process demands that parties put the issue before me before I can take action,” he added, emphasizing he was speaking of general dynamics applicable to any case. “A comment made in passing by a lawyer is not sufficient.”
In its statement earlier this year, J.C. Penney said the bonuses were among a series of “tough, prudent decisions” taken to safeguard the firm’s future.
https://www.reuters.com/article/us-h...-idUSKCN24I1EE
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07-17-2020, 09:36 AM #67
The bonuses definitely rank up there.
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07-17-2020, 09:37 AM #68
There's also this: https://www.theatlantic.com/ideas/ar...-class/605878/
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07-18-2020, 03:15 PM #69
Good read. You hear about management consultants all the time but I hadn't paid enough attention to know there was a movement to specifically eliminate middle management. What's interesting is corporate America will eventually shoot itself in the foot with all its nonsense. By universally eliminating the middle class and limiting people's potential for career and income growth, not to mention cutting back education, the population won't have as much spending power to buy the products and services these companies produce. Share prices are driven by expectation of future growth. If people don't have money to spend it will impact future growth.
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