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In Reply to: I'll bet the board was unanimous, they'll all sell their shares posted by risabet on April 26, 2007 at 16:56:11:
"I feel sorry for the workers who were not consulted."Surely it is shareholders that own the firm, it is only their approval that is required to sell it. The stark reality is very simple, the primary duty of any commercial enterprise is to make profit for its owners, everything else is secondary to this or undertaken to fulfil this duty.
Music making the painting, recording it the photograph
Follow Ups:
... is that investment is everything and that employees -- or to use the old, original term, "servants of the company" -- are of no account.Yes, it was Marx who said that the investor pays an worker the minimum he or she is willing to work for, and expropriates the "surplus value" of the workers effort. For my part I believe that the true entrepreneur, the risk taker, has an extremely valuable role to play, but the powerful financial interests that control the economy today are a long way from true risk-taking entrepreneurs. Rather they do everthing they can to minimize risk to themselves, and through their exercise of power, they do it by screwing over workers and communities.
Bill Bailey
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See my stereo config
Private property is sacred to Mammon.
< < the primary duty of any commercial enterprise is to make profit for its owners > >I would instead argue that the primary duty of any commercial enterprise is to make a profit. Otherwise it will go out of business and there is no point to the enterprise. But as long as it makes a profit, then it can do whatever it wants to do.
Here's an example. We spend about $12,000 a month to pay 100% health and dental insurance for our 16 employees *and* their families. We don't have to do this. We could instead give this money to the company owners.
But in my opinion (as one of the owners), that would suck. YMMV.
of change IMO. Where is it written that the only goal of commercial enterprise is profit for the owners. At some point the need of the workers and the communities they reside in must enter the equations.
"At some point the need of the workers and the communities they reside in must enter the equations. "Looked in the long term, a healthy wrker population and surrounding community is intrinsic to a healthy and profitable company. It's funny how most American businesses don't look beyond the next quarter or two.
Did you know that Panasonic has a 500 Year Plan for their company?
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