Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
There was a company where the employees owned 51%, but due to poor CEO decision, not only was the equity built up eroded and wasted, the acquired and later accumulated debt by CEO over indulgence in poor investment and selling off lucrative components, resulted to drive it straight into bankruptcy. This was aided by an over exaggeration by the CEO of what figures mean. They saw a 19 Billion dollar annual generation of income, but were void of being aware that it takes billions of expense to generate 19 billion income, able to yield 1 billion in profit.
Before long they whittled that 1 billion profit into multi billions of debt, underfunded pensions and every other felonious decision imaginable. Still, the "Poor Decision Making CEO walked away with a golden parachute to the tune of $Million". In the wake was a devastated company, many laid off employees and pensions destroyed and turned over to the Pension Guarantee Company.
Let's take RadioShack for example. In 2009, in the midst of the recession, the company banked ~$200M dollars. Now, largely due to poor management, the entire company is worth about half that. A whole bunch of people will now lose their jobs, and almost a billion dollars in shareholder value squandered. Sure, retail's a tough business, but it's not THAT tough. Also, look at JCP.
There was a company where the employees owned 51%, but due to poor CEO decision, not only was the equity built up eroded and wasted, the acquired and later accumulated debt by CEO over indulgence in poor investment and selling off lucrative components, resulted to drive it straight into bankruptcy. This was aided by an over exaggeration by the CEO of what figures mean. They saw a 19 Billion dollar annual generation of income, but were void of being aware that it takes billions of expense to generate 19 billion income, able to yield 1 billion in profit.
Before long they whittled that 1 billion profit into multi billions of debt, underfunded pensions and every other felonious decision imaginable. Still, the "Poor Decision Making CEO walked away with a golden parachute to the tune of $Million". In the wake was a devastated company, many laid off employees and pensions destroyed and turned over to the Pension Guarantee Company.
They were **** poor owners in that case. There are far more CEOs running their business properly than these extreme examples you can come up with
They were **** poor owners in that case. There are far more CEOs running their business properly than these extreme examples you can come up with
If you understood corporate structure as you claim, you'd have a different concept to understand how employee ownership works. the structure of the agreement is what you'd need to have knowledge of. Then you'd know the position the CEO holds in making decisions, what ever the situation the CEO follows the stock ticker, not the voice of the owners. That's why CEO pushed to be not only CEO but Chairman of the Board - if you understand the collusive mix that is, then you would understand the post as expressed.
If you understood corporate structure as you claim, you'd have a different concept to understand how employee ownership works. the structure of the agreement is what you'd need to have knowledge of. Then you'd know the position the CEO holds in making decisions, what ever the situation the CEO follows the stock ticker, not the voice of the owners. That's why CEO pushed to be not only CEO but Chairman of the Board - if you understand the collusive mix that is, then you would understand the post as expressed.
Owners can remove board members and CEOs so again back to my post.
The college example is greatly over rated. College if done right isn't some rediculous cost, yes it has outpaced any inflation but this is another example of how Americans have let wants get ahead of or change needs not to mention not everyone is college material. Kids don't have to leave home for college, don't need to rack up 30-50k a year just for the education and "experiance" the truth is on average only 70% of grads are in debt when they get out and with an avg debt of 29k or so. These numbers would be even lower if you went to community college first and then transferred. All that said it's an expense you keep using as an example and greatly overblown.
Yep, but the journalists who write the "college is expensive" articles, think your kids need to go to Ivy League universities, or they'll spend their lives as street bums. "Community college" is not in their vocabulary.
What did a crappy car like the Nova cost back in the '60s? You can get a Nissan Versa for $12,000 today, which is just a better car in all respects anyway. That's less than $1,600 in 1962 dollars. Were Novas really much cheaper than $1,600?
Novas, Dodge Darts, Ford Falcons, etc. , had a base price around $2k. Performance or luxury versions, with a V-8, A/C, automatic, etc. about $3k.
Take any car from 50 years years ago, and multiply X 10, and you'll come close to the equivalent cost today within any given category.
A solution is to work your full-time job and start a business that you can do part-time or in your spare time. There are many network marketing businesses to choose from that people can do with small up front cost.
Yea I know some will say scam or they won't make any money. Here's the problem with those arguments. There are people making money in the network marketing industry. Legally.
Success at such ventures varies among individuals. There's probably far more failures than successes. Given the proliferation of such "opportunities" as presented through various advertising media, and the resulting inflow of participants, everyone should end up rich. And that doesn't seem to be the case.
Starting a business is given too often as a means to cure one's financial ills. Many people, especially the demographic these "firms" prey on, end up worse off than they were before they invested in such "opportunities".
Recommend the whole interview. 90% is about the economy but from 9 minutes and 40 seconds until 10 minutes and 30 seconds he talks about the whole globe becoming a "two tiered society". Exactly what we're talking about here and other threads. He mentions this in the beginning of the interview too but the minute I've listed the main part.
Watch from 9:40 to 10:30 if you don't have time to watch it all.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
