How the cult of shareholder value is cannibalizing corporate North America

Financial Post
As I read through this article, I couldn't help thinking, as I read some of the defenses of the proponents of this sort of business practice, of that W.C. Fields quote, "If you can't dazzle them with brilliance, baffle them with bullshit."
And it's a whole lot of bullshit. These companies have been overheating their own stocks, and calling it profit. They've been raiding their own savings to placate demanding and aggressive shareholders. And in the end, it's all make-believe. They're rearranging the deck chairs on the Titanic.
It's an ages old scam, Three-card Monte, but it's played using banks instead of cards.
Feel safe and secure with our financial leadership?

Comments

Private Equity is a TERRIBLE Investment... Who Keeps Giving Them Money? — How Money Works

Not too much to comment. Business in the USA and by extension Canada is bad right now. Probably for a generation. We really do need a generational plan to get us out of this mess. A ten to twenty year program, unfortunately. Placing pieces onto the board and moving them where they need to be to make things work again. By pieces, I mean people. We need good strong policies to implement as well. There's a lot to think about.

The potential Canadian federal government budget

If Trudeau has brought in Mark Carney as a kind of special advisory role, then it's likely the upcoming budget will resemble the budget the Labour government in the UK unveiled just recently. It'll likely be a large stimulus bill aimed at getting cash into hands and raising taxes on the wealthy and corporations. If the howls for Trudeau's resignation are any indication, he's probably placed a lot of confidence into Carney, and why wouldn't he? Carney's well-respected and liked by the Canadian public and seen as someone who's able to stand up to bullies such as Harper and Poilievre. The work in policy Carney has done recently inspires me quite a bit, and I'm quite a bit of a radical, standing considerably to the left of the federal NDP. From the results of the Cabinet shuffle, Trudeau seems to be keeping Carney at arms length away from the Cabinet, but I wouldn't be surprised if Carney is on speed dial for both him and the entirety of Cabinet. But it...

BC Election Preliminary Results Thoughts and Feelings and Some Preliminary Analysis

The BC NDP will possibly hold onto power in the province of BC. With a Confidence and Supply Agreement with the Greens, they should aim for four years of stable government. However, they should also look inward. They should take good lessons from this near-loss of power. The BC NDP wanted to take a "centrist" position —that they were "safe for business"— but have no idea that the further right the party tacks, the more this plays into the right's strengths giving parties like the BC Conseratives headwinds to go even further right. Rather than safe, the BC NDP needed to announce policies that would've been like swinging haymakers at certain business interests especially for rentals; businesses taking advantage of low wages for international workers; and universities taking advantage of international students. For current rent prices, this plays twofold against the NDP. Rent prices as they are now depress voter turnout for the NDP. People see the NDP as ineffe...

Metaneos

Search This Blog