tag:blogger.com,1999:blog-7895164153505105997.post4046731280543360967..comments2024-01-17T00:45:37.075-08:00Comments on Bud Meyers: Pro-Corporate Democrat Hates American JobsBud Meyershttp://www.blogger.com/profile/02065020063363023395noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7895164153505105997.post-91077494182351192412015-12-21T22:31:05.541-08:002015-12-21T22:31:05.541-08:00To understand the real changes in the US economy o...To understand the real changes in the US economy over the last 60 years, compare two eras at General Electric: <br /><br />“Stockholders are confined to a maximum return equivalent to a risk premium. The remaining profit stays in the enterprise, is paid out in higher wages, or is passed on to the customer.” - Owen Young, President, General Electric Company (1922-1945) <br /> <br />“The shareholder is king - the residual claimant, and is entitled to the whole pot of earnings.” - Jack Welch, Chairman and CEO, General Electric Company (1981 – 2001) <br /> <br />Corporations today no longer serve as providers of large scale opportunity by building and maintaining strong commitments to their workers and their communities. Instead, their main function is to maximize share price (shareholder value) and compensation for top employees. <br /><br />As the shareholder revolution took off in the 1980’s, corporations largely stopped borrowing money to invest in business expansion, and instead borrowed money to return to shareholders in the form of dividends and stock buybacks. <br /><br />High corporate profits no longer lead to a higher level of investment. The corporate shareholder revolution has benefited from historically low interest rates, which has driven the cost of borrowing to historically low levels. <br /> <br />Sanders is the only candidate talking about this. It ain't just the global economy that is driving down wages folks. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-66525680283496958032015-12-20T15:03:15.313-08:002015-12-20T15:03:15.313-08:00"Hot bunking" is a USN (US Navy) term fo..."Hot bunking" is a USN (US Navy) term for having slightly more bunks than one-half of the crew complement; while one-shift is working, the other shift is sleeping; thus, the bunks are "rotated". IIRC, it's common practice on subs, not on surface vessels.JBHorenhttp://www.facebook.com/JBHorennoreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-62991764233478902712015-12-20T08:40:19.738-08:002015-12-20T08:40:19.738-08:00"See USN for details" --- what is this?"See USN for details" --- what is this?Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-7895164153505105997.post-64994223409806970692015-12-20T08:27:56.126-08:002015-12-20T08:27:56.126-08:00The "other side of the coin" (so to spea...The "other side of the coin" (so to speak) is the practice of foreign/guest-worker remittances: sending most/almost-all of one's paycheck back to family in the home country [and, thus, living four-(or more)-to-a-room here, in cramped homes and apartments, sometimes "hot bunking" (see USN for details).JBHorenhttp://www.facebook.com/JBHorennoreply@blogger.com