Friday, July 22, 2011
Corporate Profits Are, of Course, Doing Quite Well
The surest sign that there is a disconnect between what's happening for companies and what's happening for workers is when we look at profits.
American companies are addicted to unrealistic levels of profit and corporate boards are far too demanding of their own dividends to sustain our economy. In American business, the only quarter that matters is this quarter and profits MUST be delivered or everyone responsible will have to kick it old school out there on the bricks looking for another gig where mediocrity can be celebrated. Are there any heroes in corporate America? Or are there just rows and rows of bland villains making too much money for tightfisted jerkwads?
Unless and until a realistic leveling off of corporate profits, CEO compensation, and wages, forget about a growing economy and a healthy situation for American workers. The values are out of whack and the elites think there's another mile or two left on these bald tires. Well, these tires aren't going to take us much farther. It's time to invest in a new set and it's time to start hiring people.