1400 people told they'll lose their jobs in Indiana

[Inactive]

Sad but this was done in a respectful way. Layoffs from mid 2017 to 2019. At least they weren't given their pink slips then and there.

This reminds me of the time over here where a Christian man closed up his shop a week after his employees unionized. He used this excuse:

"We are required by scripture to live peaceably with all men"

 

[Sufiyan]

If only they listened to Mr Perot. This is what happens when you have big business conservatives running the show. A culture of maximizing short term profits and forgoing any long term visions. Gone are the days the Henry Fords would double the salaries of their employees relative to the market rate so they could afford the cars they produced and resulting in a major long term gain for the corporation.

 

[Inactive]

Ford doesn't even produce cars that consumers want.

Lets be honest; if you owned a corner store you'd want to pay your workers the minimum required so why not corporations?

I don't really blame these companies for doing what they have to do to remain competitive. They answer to their shareholders and pay dividends.

My own company that employs me has shareholders to keep happy. They have no obligation to any worker. The CEO will be thrown under the bus to protect the bottom line.

Any one of us would ship jobs to Mexico if we were in that position

 

[Sufiyan]

Which is why innovation and corporate loyalty is at an all time low. Its a indisputable fact that innovation and the long term trend of a corporation depends intricately on how much they invest into their employees. Its no surprise innovation and corporate loyalty was at its height in the 60s and 70s when innovations were widespread and prosperity was achievable by most. Shipping jobs to be done by the lowest common denominator is all about the gain in the short term. A fat executive does this so they can get theyr next signing bonus to buy a new yacht without regard for the actual long term future of the company. Companies are now starting to feel the real pain in shipping all of theyr technology jobs overseas and the inferior quality of product that resulted from such choices and many have gone underwater since. A CEO who is all about the short term gain is not a person who is fit to be a CEO just like a leader who follows public opinion at any time is not fit to be a leader at all. Imagine how messed up the political system would be if we had an election anytime a government leader made a decision that was at odds with the majority at the time??? It takes vision that cannot be understood at time by the people around them that separates the CEOs and the presidents from the corporate jockeys and the senators.

 

[Kaafiye]

Which is why innovation and corporate loyalty is at an all time low. Its a indisputable fact that innovation and the long term trend of a corporation depends intricately on how much they invest into their employees. Its no surprise innovation and corporate loyalty was at its height in the 60s and 70s when innovations were widespread and prosperity was achievable by most. Shipping jobs to be done by the lowest common denominator is all about the gain in the short term. A fat executive does this so they can get theyr next signing bonus to buy a new yacht without regard for the actual long term future of the company. Companies are now starting to feel the real pain in shipping all of theyr technology jobs overseas and the inferior quality of product that resulted from such choices and many have gone underwater since. A CEO who is all about the short term gain is not a person who is fit to be a CEO just like a leader who follows public opinion at any time is not fit to be a leader at all. Imagine how messed up the political system would be if we had an election anytime a government leader made a decision that was at odds with the majority at the time??? It takes vision that cannot be understood at time by the people around them that separates the CEOs and the presidents from the corporate jockeys and the senators.

Although I understand where you're coming from, you have to realize that a CEO who acts against the best interests of his company won't last for very long. If a company is short-sighted enough to behave in a manner detrimental to their own employees, then they will go under and be replaced by another company that's smarter and can think long-term. If anything, this is further proof that capitalism is the best economic system to raising the collective prosperity of a nation. No company that doesn't provide value to their employees and customers will last for very long. I can think of hundreds of large businesses that have gone bankrupt because of their own stupidity, and now they've been replaced by more responsible corporations.

 

[Sufiyan]

Although I understand where you're coming from, you have to realize that a CEO who acts against the best interests of his company won't last for very long. If a company is short-sighted enough to behave in a manner detrimental to their own employees, then they will go under and be replaced by another company that's smarter and can think long-term. If anything, this is further proof that capitalism is the best economic system to raising the collective prosperity of a nation. No company that doesn't provide value to their employees and customers will last for very long. I can think of hundreds of large businesses that have gone bankrupt because of their own stupidity, and now they've been replaced by more responsible corporations.

I disagree. There are elements of capitalism that are desirable but a purely capitalistic society always results in something like those feudal European societies where you have a massive underclass of serfs and a small number of aristocrats and 'lords' or 'ladies'. A middle class cannot exist in a natural way in such a system as the forces that act work to squeeze all of the wealth towards the top. In other words a middle class is not an equilibrium solution to any capitalistic model. The inevitable collapse of the US empire will be a real world example of why this system is fundamentally unstable. I havent even gone into the argument of finite resources and how capitalism demands exponential growth into the future. In the end conservation laws and thermodynamics are the ultimate repudiations of the pure capitalistic model.

 

[Kaafiye]

I disagree. There are elements of capitalism that are desirable but a purely capitalistic society always results in something like those feudal European societies where you have a massive underclass of serfs and a small number of aristocrats and 'lords' or 'ladies'. A middle class cannot exist in a natural way in such a system as the forces that act work to squeeze all of the wealth towards the top. In other words a middle class is not an equilibrium solution to any capitalistic model. The inevitable collapse of the US empire will be a real world example of why this system is fundamentally unstable. I havent even gone into the argument of finite resources and how capitalism demands exponential growth into the future. In the end conservation laws and thermodynamics are the ultimate repudiations of the pure capitalistic model.

You really need to read Friedrich Hayek's piece on the price system and how prices regulate production in an economy. Capitalism is based on maximizing production, and it's the capitalist system that was responsible for lifting billions of people out of poverty, primarily in China and India.

The reason why the US Economy collapsed in 2008 was due to the Federal Reserve tampering with the economy, primarily through pumping trillions of dollars of money into the banking system and then going ahead and guaranteeing all of the debts issued by these Banks. That's not capitalism. That's government-sponsored corruption and is the furthest thing from genuine free market capitalism.