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Old Today, 07:55 AM
 
11,077 posts, read 11,013,577 times
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Funny, considering most of the trump tax cuts went to stock buybacks, while the Maga base focused on the shivers going for $1000 bonuses to workers lol

https://www.cnbc.com/2019/08/19/the-...objective.html

"While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders," said the statement, which signed by 181 CEOs. "We commit to deliver value to all of them, for the future success of our companies, our communities and our country."

"The American dream is alive, but fraying," said Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. and chairman of Business Roundtable, in a press release.
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Old Today, 08:08 AM
 
Location: United States
11,049 posts, read 5,130,804 times
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Quote:
Originally Posted by chopchop0 View Post
Funny, considering most of the trump tax cuts went to stock buybacks, while the Maga base focused on the shivers going for $1000 bonuses to workers lol

https://www.cnbc.com/2019/08/19/the-...objective.html

"While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders," said the statement, which signed by 181 CEOs. "We commit to deliver value to all of them, for the future success of our companies, our communities and our country."

"The American dream is alive, but fraying," said Jamie Dimon, chairman and CEO of JPMorgan Chase & Co. and chairman of Business Roundtable, in a press release.
This is laughable.

Our problem in this country has been that some many companies have moved their operations, and investments overseas, abandoning the communities, and people that depend on them.

Thank goodness we have President Trump working so hard to reverse these policies, and renegotiate trade deals.
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Old Today, 08:15 AM
 
477 posts, read 98,386 times
Reputation: 591
Jamie Dixon, speaking out for the common man.

That is absolutely priceless.

As Emperor, I can think of a few public policy initiatives that JPMorgan wouldn't be too thrilled with.

As a side note, I think it's a crying shame that tax law (double taxing of dividends, low capital gains rates) has encouraged the stock market to fixate on the wrong things. The laws of unintended consequences at work.
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Old Today, 08:23 AM
 
31 posts, read 5,611 times
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"While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders," said the statement, which signed by 181 CEOs. "We commit to deliver value to all of them, for the future success of our companies, our communities and our country."



Horse manure. That statement is made for public consumption drafted by the Communications or PR director. I had a Director once tell us we did not understand the concept of shareholder value. We had watched as this guy started dressing like the new CEO down to his where is waldo socks and aping his behavior. It became an office joke and people lost respect for him as he became such a sycophant.

I knew the guy pretty well, enough to not be afraid to speak my mind or communicate bad news. I told him over coffee in my office, I've worked in several large corporations vs you who have been here your whole career. I've been exposed enough to the CFO /CEO levels to see their behavior up close. Not one wouldn't pimp out his own grandmother to increase his bonus. The guys running us now are the worst of the bunch. The only share holder they care about is share holder number one.

I never saw any evidence to convince me otherwise.
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Old Today, 08:25 AM
 
Location: OH->FL->NJ
10,232 posts, read 8,194,495 times
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Overall will amount to a small blip.

The biggest economic whales would burn down an orphanage with the kids inside for 1 million dollars.
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Old Today, 08:35 AM
 
2,443 posts, read 669,198 times
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Hmmm...It appears the Business Roundtable might be considering 2 things:

1) Mr.Trump and the GOP will suffer staggering losses in the 2020 election

2) They have a deep fear of what the Warren effect will be on business, and are now trying to get ahead of the changes to come.

Random thoughts:

A great big shout out to Rep. Katie Porter of California's 45th district...keep up the good work!

Corporations cared about their employees and the local community in the mid 20th century. The Reagan revolution turned them into cut throat capitalists.

Last edited by corpgypsy; Today at 08:49 AM..
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Old Today, 08:41 AM
 
10,878 posts, read 13,776,010 times
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I think the bottom line is that in exchange for limiting individuals liability, there was supposed to be some public benefit to enabling corporations. I know Rush Limbaugh/Reagan/Alex P Keaton types think corporations exist in nature, but they don't. They are legal entities. It's not the same thing as opening a banana stand and exchanging your banana for someone else's goat.
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Old Today, 08:46 AM
 
13,817 posts, read 7,537,103 times
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Why didnít the article include the list of CEOís who pledged?
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Old Today, 09:01 AM
 
2,443 posts, read 669,198 times
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Quote:
Originally Posted by shadowne View Post
Why didn’t the article include the list of CEO’s who pledged?
The Business Roundtable is a lobbying group. The organization represents the nation’s most powerful chief executives and this is just a statement of how it is shifting its guidelines or current view regarding the purpose of a corporation.

It was not immediately clear which members of the Business Roundtable supported or opposed the change to its policy view. And it remains to be seen how much the companies will change their practices in light of the new commitments.

12:15 p.m. update according to new reporting: The new statement includes 181 signatures of the 192 current members of the Business Roundtable. Some companies that did not sign were not eligible to do so because an interim chief executive is in place or the company is transitioning between leaders. There were seven other CEOs who did not sign for various reasons: Roy Harvey at Alcoa, Stephen Schwarzman at Blackstone, Larry Culp at General Electric, Bernard Tyson at Kaiser Permanente, James Robo at NextEra Energy, Thomas Williams at Parker Hannifin and Michael Tipsord at State Farm.

A Business Roundtable spokesperson noted that a non-signature does not necessarily mean the CEO does not support the statement. I guess to see who the other members of this group are and then determine the signees we could go to the Business Roundtable website. I may do that later, but out of time, currently.

Last edited by corpgypsy; Today at 10:21 AM..
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Old Today, 09:15 AM
 
52,379 posts, read 42,133,031 times
Reputation: 32689
Quote:
Originally Posted by Kentucky62 View Post
"While each of our individual companies serves its own corporate purpose, we share a fundamental commitment to all of our stakeholders," said the statement, which signed by 181 CEOs. "We commit to deliver value to all of them, for the future success of our companies, our communities and our country."



Horse manure. That statement is made for public consumption drafted by the Communications or PR director.
Exactly. Just how gullible does one have to be to believe that these CEO's PR stunt is anything more than just that.

I mean, this is some global level virtue signalling.
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