[Scotty757]

This is unbelievable. Can you even *imagine* getting a check this Christmas for $100 million?

 

[Dedpoet]

If this were an oil company, there would be outrage. Just imagine it. "Interest rates are at a 2 year high and these finance companies are making record profits!"

 

[gtp]

This is exactly what's wrong with America right now. There are the super rich, then there is everyone else, and they are diverging exponentially. It is like the 1920s all over again, and we know what happened in '29! Now, maybe we have failsafes to prevent another big crash, but still something has got to give.

 

[Tyson]

Quote:

Originally Posted by gtp /img/forum/go_quote.gif This is exactly what's wrong with America right now. There are the super rich, then there is everyone else, and they are diverging exponentially. It is like the 1920s all over again, and we know what happened in '29! Now, maybe we have failsafes to prevent another big crash, but still something has got to give.

Seriously, do you think that the fact that there are rich people out there makes you (or anybody else) poorer?

I don't know about you, but I'm just as well off today as I was before these people got their bonus checks.

Besides, think of all the extra servants these people can now afford to employ. If that's not helping out the poor, then I don't know what is

 

[Jahn]

those guys have no life. i enjoy my tower of power far more than they do dreaming that they were on their yacht while they pull another all nighter at work.

 

[arnesto]

Quote:

This is exactly what's wrong with America right now. There are the super rich, then there is everyone else, and they are diverging exponentially. It is like the 1920s all over again, and we know what happened in '29! Now, maybe we have failsafes to prevent another big crash, but still something has got to give.

We'll part of the corporate strategy has been to offshore work, once we start offshoring. It becomes cheaper to replace the existing onshore workforce. The final result, is that onshore workers become easily replaceable and this reduces our compensation.

This will eventually reduce the number of middle income workers. The executives that make these decisions will increase profits for their company and get bigger bonuses. The flow of money that go to foreign countries, will gradually weaken the dollar making inflation go up.

Like the previous post, unchecked corporate behavior will create a country of the super rich and low income poor.

I will receive a 100 million dollar bonus and you can clean my toliet for minimum wage.

 

[juzmister]

Yeh it was an awesome year in the Investment Banking world...

 

[plus_c]

Quote:

Originally Posted by Jahn /img/forum/go_quote.gif those guys have no life. i enjoy my tower of power far more than they do dreaming that they were on their yacht while they pull another all nighter at work.

+1. I'm not paid nearly as well, but at least I see the sun every once in a while...

 

[F1GTR]

Quote:

Originally Posted by gtp /img/forum/go_quote.gif This is exactly what's wrong with America right now. There are the super rich, then there is everyone else, and they are diverging exponentially. It is like the 1920s all over again, and we know what happened in '29! Now, maybe we have failsafes to prevent another big crash, but still something has got to give.

Precisely...and the majority just turn a blind eye to it bc they've bought in to the whole "I can't do anything about it" mentality. I love the justification some people have for why 5% of the population owns 90% of the wealth.

"This global poverty, that we accept so commonly, turns people in to property, one step away from hell." - Lyrics Born

 

[Tyson]

Quote:

Originally Posted by arnesto /img/forum/go_quote.gif We'll part of the corporate strategy has been to offshore work, once we start offshoring. It becomes cheaper to replace the existing onshore workforce. The final result, is that onshore workers become easily replaceable and this reduces our compensation. This will eventually reduce the number of middle income workers. The executives that make these decisions will increase profits for their company and get bigger bonuses. The flow of money that go to foreign countries, will gradually weaken the dollar making inflation go up. Like the previous post, unchecked corporate behavior will create a country of the super rich and low income poor. I will receive a 100 million dollar bonus and you can clean my toliet for minimum wage.

That is exactly what they said with textile machines were introduced, the cotton loom was invented, when the automated assembly line was implemented, when computers started appearing in the workforce. Do you think we have more or less middle income workers now than we did before the introduction of these labor saving (ie, putting people out of work) inventions? Offshoring is no different - cheaper, better, faster. That's the nature of business. No one is guaranteed a job for life, and required skill sets change over time. If you are smart you adapt your skill set and education to keep up. If not, you are left behind, plain and simple.

Personally I see off shoring as a good thing, since the less people we actually have working "on" computers (ie, techies), the more smart and capable people we can have working "with" computers to create actual goods and services. And I say this as someone working for a large software company.

Remember, money is not wealth. Goods and services are wealth. Money is just a medium to facilitate the exchange of real wealth, these goods and services. So everytime someone finds a way to do something cheaper, or better, or invents something entirely new, real wealth is increased for everyone, regardless of the dollar amount on their paycheck.

 

[nikongod]

the scary thing with a lot of corporate bonus structures is that they allow a ceo to post record gains in 1 quarter, get bonuses, and then loose ALL of the money they next quarter. they also give bonuses for record gains in one spot, while at the same time having record losses in another.

if you look closely at the article, it even says that the general funds are DOWN significantly.

granted, a lot of it borders on fraud, but eeh, it also borders on what you get caught doing.

 

[F1GTR]

Quote:

Originally Posted by Tyson /img/forum/go_quote.gif Offshoring is no different - cheaper, better, faster.

This word doesn't even belong here, unless it refers to the corporate executives profit whoring.

Cheaper and faster rarely results in "better".

 

[arnesto]

Quote:

Originally Posted by Tyson /img/forum/go_quote.gif Offshoring is no different - cheaper, better, faster. That's the nature of business. No one is guaranteed a job for life, and required skill sets change over time. If you are smart you adapt your skill set and education to keep up. If not, you are left behind, plain and simple.

I have been hearing that same chant "cheaper, better, faster" in my company for the past 3 years. I better walk around my department and see if I can see anyone wearing nice headphones, and that will probably be you.

I've heard that argument before about corporate globalization, I'm sure it is good for companies like Microsoft because they will sell more software to offshore companies. But when you are in the trenches working everyday and you see co-workers getting laid off because someone is willing to do it offshore for 1/3 our pay. It sucks. And that's the reality of it.

 

[Zanth]

Not sure I need 100 million, but I can't say I would tear up the cheque if it was handed to me!

 

[Duggeh]

While the wealth divide has never been as large as it is now, the "poor" have also never been so rich as they generally are now.

The money which can be made availible to the people comes through the economic success of a country as a whole. To insinsuate that the existance of very rich people is wrong because they are rich is shortsighted, their wealth creates prosperity for those whom they employ, and for the shareholders who have invested their money in that persons company with the hope of returns.

Lower income poor only have a lower income when compared to the highest high earners. In reality, lower income workers have better income compared to middle and skilled class workers than they have ever done.