THE REAL SIGNIFICANCE OF BLANKFEIN’S COMMENTS. Billionaire Lloyd Blankfein, who cost Goldman biliions in fines and who argues for cutting back Social Security, Medicare and Medicaid, represents the worst kind of ‘corporate citizen.’ They say nothing while Trump and his cronies assault the rule of law and oversee the most corrupt administration in memory as long as they accumulate record wealth while the lower and middle classes get squeezed. (The top 20% hold 77% of all household wealth, more than triple that of the middle class [the middle 60%]. The top 1% alone holds more wealth than the entire middle class.) At the very least, “good corporate citizenship” means defending the rule of law.
Congress Approves First Big Dodd-Frank Rollback – The New York Times
Who paid Essential Consultants LLC, Michael Cohen shell company – Business Insider
Allegations of corporate payments made to President Donald Trump’s personal attorney Michael Cohen has shed light on and drawn scrutiny to Cohen’s shell company
“Excellent column by an entrepreneur. Even insiders know this!”
No matter how you measure it, CEO pay in the U.S. is excessive and part of a con that dates back to the 1980s.
Sadly, this is an old problem. China’s been a target of the industry for years–with serious health consequences.
Another example of the ‘Sheriff of Nottingham’ con. Of course, they’ll try to sell it as a ‘middle class’ tax cut. Not so.
It’s important to remember that professional sports is a business. In what industry would be OK to say, ‘We encourage our employees to hurt one another, even if it means they end up with brain damage”?
From the USA Today story below: “Trump lashed out at game officials for enforcing rules designed to protect players from dangerous hits, saying penalties are “ruining the game.” His sharp words come in the same week it was revealed that former NFL player and convicted murderer, Aaron Hernandez, who committed suicide in jail, had the debilitating brain disease chronic traumatic encephalopathy (CTE). According to the Mayo Clinic, CTE is “likely caused by repeated head traumas. … It has been found in the brains of people who played contact sports, such as football, as well as others.”
Trump made no reference to dangers, only penalties.
“Fifteen yards, throw him out of the game,” he said according to video of the speech. “They had that last week. I watched for a couple of minutes. Two guys just really beautiful tackle, boom, 15 yards. The referee gets on television, his wife is sitting at home, she’s so proud of him — they’re ruining the game. Right? They’re ruining the game. Hey look, that’s what they want to do. They want to hit, but it is hurting the game.”
Ongoing corporate ethics failures start in B-schools.
Classic problem in this industry. Short-sighted. Ignores the broad implications of what it does and doesn’t do.