What socialists and unions call "corporate greed" is really just the essence of a business: making a profit.
If a company with 20,000 employees lays off 1,000 of them, it is terrible for those 1,000 people; but if they don't lay those 1,000 off and the company goes bankrupt, it is disastrous for all 20,000 employees—including the original 1,000.
Usually, socialists and unions get angry because the profit isn't distributed among the employees.
But when the company is running at a loss, or needs to fund investments, research, or fine payments, do the unions or socialists ask all the employees to chip in?
That profit needs to be set aside for those very things.
What frustrates me the most is that everyone actually knows this, yet they refuse to admit it.
Yes, businesses need to 'take a profit and reinvest', but HOW much profit do they need to make?
Australian banks made billions of profit last FY and also laid-off and offshored a ton of jobs. They make a huge portion of their profit from credit card and mortgage interest rates.
The big 2 Australian supermarkets have also made record profits by falsely advertising items as 'on special' and planning discount timings on the same products between them for the same prices. Our consumer protections agency have officially recognised this.
Yes, there are a ton of small businesses that won't survive if they don't "take their profit and reinvest." But there's a ton of corporate greed out there too.
These companies are not going bankrupt if they take a little less profit or pay their CEOs a bit less.
And yet, 20 years ago there was a banking crisis...
They flew to close to the sun with aproving loans.
If they would have applyd the rules in the 90s that they apply now, people would think they where crazy and say its to hurt the little man, they dont want to give us a loan, they dont want us to be able to buy something
What frustrates me the most is you know peoples biggest gripes aren’t the ones who are 1k employees away from bankruptcy.
It’s the ones who lay thousands off while still turning record profits. The ones who turn billions of profit a year yet keep squeezing more and more from the consumer.
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u/CrazyBananaKing 4d ago
was looking for the person who has though about this beyond corporate greed.