Posts Tagged ‘economics’

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Timeless Words of Wisdom

April 5, 2020

“You know Burke, I don’t know which species is worse.  You don’t see them fucking each other over for a goddamn percentage.”

— Ellen Ripley, Aliens

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BailoutBS

March 22, 2020

So wait.  In the last 5 years, airlines spent $44B on stock buybacks.  That’s 96% of their free cash flow.  Plus billions more on dividends.  They did not improve their services, nor improve their structure, nor, and this is the biggie, did they save anything for the inevitable downturns or other acts of woe.*

They act fiscally irresponsible, line their pockets, impoverish us, and now they want a bailout?  They have the audacity to ask for a bailout?  A bailout that is essentially in size of what they spent on buybacks?

This is why good governance is important.  This is why oversight is important.  This is why societal involvement and accountability is important.

THIS is why your/our vote matters!

 

* Nor, of course, did they boost their employee pay, or working conditions, or aid the consumer in any way… but that’s a whole other story.

** As a whole, the top 500 companies spent $5T on buybacks + dividends vs $4.5T in earnings — they are willingly and wantonly enriching themselves while foisting their liabilities into debt and the public trust & our pocketbooks (by both charging more and paying employees less, plus foisting costs into the environment into which we all live).  All aided by the recent tax code “revision” (read: giveaway).

 

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Quote of the Day

February 16, 2019

“I saw Activision’s statement about why they “broke up” with Bungie over at GameSpot, but it’s like…  more than seven billion wasn’t “enough” according to the onyx spire they worship.  I don’t think they can be trusted to determine what constitutes enough.

I own a company, I understand that they have to make money, but the top of that organization is completely divorced from every other part of it.  It’s sick in the particular, unaccountable way that is an accelerant to revolution.  The people who generate the wealth they bathe in are so abstract as to be inconceivable.  I have some experience with this; there are people who will pulp you to get a “good year.”  One hesitates to suggest that they serve Evil Gods, you know, far be it from me to make a moral pronouncement, but their purposes are inimical to human flourishing.  The human being, essentially considered fungible and endlessly replaceable in its capacity to generate value, exists nowhere in their calculus.

The parable of the golden goose has endured for a reason, and that is because none of these motherf’rs ever seems to learn it.”

Tycho (from Penny Arcade)