More corporate greed

[andy158]

Think about this the next time you put ketchup on your fries.

http://finance.yahoo.com/news/Heinz-4Q-profit-climbs-will-apf-1699439385.html?cmtnav=/mwphucmtgetnojspage/headcontent/main/1699439385//date/desc/11/s6229878

Not a good example of economic recovery.

[justbroke]

I never call it corporate greed, now that I work for a corporation. It's shareholder greed. They want dividends, higher stock value, and higher EPS (earnings per share -- outstanding). A lot of this is also fueled by "institutional" stock holders like... yup... your 401(k).

Since the 1990s, corporations have always re-balanced the workforce when looking forward or going into a new market. Rising costs will always stifle any desire to compensate employees or keep them employed. I have been through one "union" shop where it was closed, despite being the BEST operating facility worldwide. It was that they had to close one and ours just happened to have been near a lease renewal!!! Yup, 300 jobs of the BEST -- according to actual data and surveys of both employees and customers -- was closed for no other reason than to shave off a $2-3 million in costs. The company made a $10B profit that year.

So, I won't stop patronizing Heinz, because that will only cause further grief for the workers if Heinz stops making ketchup in North America. Yes, a vicious circle indeed.