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Forum Post: Define Corporate Greed

Posted 10 years ago on Dec. 8, 2011, 10:40 a.m. EST by Perspective (-243)
This content is user submitted and not an official statement

It gets thrown around so much but I have yet to see a definition of it so help me out here.

43 Comments

43 Comments


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[-] 3 points by nucleus (3291) 10 years ago

ENRON, Arthur Andersen, etc.

WorldCom / MCI.

Child labor by Firestone, Apple, Nike, etc.

Halliburton no-bid government contracts.

Halliburton overcharging on government contracts.

Banks foreclosing on houses without due process.

Corporations avoiding taxes.

Outsourcing labor at $.10 on the dollar.

Raiding 401k group plans for executive golden parachutes.

Bernie Madoff

Subprime mortgages ...

[-] 0 points by Perspective (-243) 10 years ago

Interesting list even if I don't agree with it all. I'm still looking for a standard definition though. Thank you for commenting nuc.

[-] 1 points by nucleus (3291) 10 years ago

All this was done with one intent: "making" (stealing) more money. That's greed, as practiced by corporations (which are people, you know).

[-] 0 points by Perspective (-243) 10 years ago

But businesses exist to "make money". If they didn't they couldn't continue to operate. I guess the question is when does the line get crossed from making an acceptable profit (then the question is how do you determine that) to making a profit that is "greedy".

[-] 1 points by nucleus (3291) 10 years ago

Why don't GE, Verizon, BoA, etc., pay any corporate taxes? They all made piles and piles of money ...

[-] 0 points by Perspective (-243) 10 years ago

Ah now I'm with you on that also. I found it disturbing that Obama apppointed Immelt (a huge Obama donor) to be his jobs czar when GE is cutting people and paying not one cent of tax. Perfect example of pay to play.

[-] 2 points by nucleus (3291) 10 years ago

Profit is not the problem. It the accumulation of vast amounts of wealth that translates into power that is used to benefit those with wealth at the expense of everyone else. Thus the need for a truly robust tax system on both income and wealth to dismantle the aristocracy and prevent one from rising again.

This country never did so well as when the highest tax bracket was 70-90%. Paid off the massive WWII debt (debt was 120% of GDP in 1945, 30% in 1980), built a continental infrastructure, had a thriving middle class, ...

[-] 0 points by Perspective (-243) 10 years ago

Then we get back to the true problem of money in politics/govt. Or at least that seems to be what you're saying and the one thing I whole heartedly agree with is getting the money out of it. All campaigns should be publicly funded with each person receiving the same amount based on the office they are running for. It seems to me that would be a simple way to cure the problem. the drawback is getting it implemented.

[-] 1 points by nucleus (3291) 10 years ago

Because we seemingly must rely on these benefiting from a corrupt system to reform it. Thus we have OWS.

[-] 0 points by Perspective (-243) 10 years ago

You hit the nail on the head but I don't know if OWS is the answer.

[-] 1 points by nucleus (3291) 10 years ago

Give it some time, it hasn't even been 3 months yet and we are taking an entrenched, centuries-old power structure that is exceedingly well funded.

[-] 2 points by WorkerAntLyn (254) 10 years ago

Profits-Over-Humanity.

If an employer knows they can afford to provide their employees the necessary funds to survive, but do not, they are choosing their profits over their conscious.

If an employer knows that an overseas operation is practicing in sub-par conditions in safety and pay, but continues to use it, they are choosing their profits over their moral obligation.

Hence, Corporate Greed. The belief that their profits matter more than the lives of other.

[-] 1 points by Perspective (-243) 10 years ago

Great comment. Thank you.

[-] 2 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Try this on for size.

Corporate greed:

Pull as much revenue as possible in the shortest period of time possible out of company proceeds to enhance personal incomes of the executive officers and any board of directors.

Reinvest only enough money to keep the business operating, after all if it goes under for any reason you ( THEY ) will want to have pocketed as much as possible. The company does not matter to them. They can go elsewhere or restructure to continue their personal profits.

Pay you employees ( the 99% ) as little as possible to minimize overhead and maximize profit. Only partially fund retirement programs if you can get away with it, because again this is more money for their pocket. Encourage high turnover in your employee base as this keeps outlay low and so enables more money to be available for executives and board of directors.

All these things and more are part of corporate greed.

[-] 0 points by Perspective (-243) 10 years ago

Great comment. Thank you.

[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Your welcome. Please circulate.

[-] 1 points by DKAtoday (33802) from Coon Rapids, MN 10 years ago

Outsourcing to child labor/slave/sweatshops/countries.

[-] 0 points by Perspective (-243) 10 years ago

Great comment. Thank you.

[-] 1 points by JadedCitizen (4277) 10 years ago

Corporate greed: insidious corporate acts intended to produce more profit; an act of redefining corporations as people with the sole intent to purchase influence over legislators, i.e., deregulation; an act of fraudulent behavior in the shadows of deregulation; any other such act that puts corporate profits before public well being.

[-] 0 points by Perspective (-243) 10 years ago

Good comment. Thank you. I'd like to go farther in depth about corporate profit/public well being. How do we determine the public well-being and how corp profit affects it?

[-] 1 points by JadedCitizen (4277) 10 years ago

common sense. separate state and business. let public interest shape policy and not corporations.

[-] 0 points by Perspective (-243) 10 years ago

Ah ok,I misunderstood what you meant. Thanks again.

[-] 1 points by HoneyintheHeart (101) 10 years ago

Waste of time...define yourself

Atomicz, whatdaya think about representing natural resources instead of ridden corporate greed...

I would like to try to spin the issues a bit for you...currently in the world we attack issues that arise as they arise. Missing the point that these issues have originated long before any current situation because we (the people, majority anyway) have not been doing our jobs for millineia(s) now. As we see the issue as something to be fixed we are continually being through into this imperial/patriarchal cycle or system.

In short, we have a long way to go and even the majority of activism may be headed in the wrong direction...

The closest thing I know happening politically that I can endorse is Bolivia Set to Pass Historic 'Law of Mother Earth' Which Will Grant Nature Equal Rights to Humans www.pvpulse.com

where the intension is set and seemingly in a new type of direction where instead of taking the big man down we bagin to promote the world up, if that makes sense.

and I quote "The law redefines natural resources as blessings and confers the same rights to nature as to human beings, including: the right to life and to exist; the right to continue vital cycles and processes free from human alteration; the right to pure water and clean air; the right to balance; the right not to be polluted; and the right to not have cellular structure modified or genetically altered. Perhaps the most controversial point is the right "to not be affected by mega-infrastructure and development projects that affect the balance of ecosystems and the local inhabitant communities"

[-] 0 points by Perspective (-243) 10 years ago

Please stay on topic and post your green agenda elsewhere.

[-] 1 points by HoneyintheHeart (101) 10 years ago

this is a human agenda...omg more and more everyday this forum presents itself as just plain ignorant.

How is the otherside of the corporate coin a green agenda??? lol

"green" I dont endorse "green" such a confused term...

The best part is that the forum you created here seems to desire input BUT just that you want to hear your side...

THIS FORUM HAS BEEN CREATED BY ONE WHO LACKS OPEN PERSPECTIVE...BE WEARY OF TROLL LIKE STATE

[-] 0 points by Perspective (-243) 10 years ago

Lol why don't you make your own post? I asked a question in mine and other than you everyone stayed on the question. You however posted something that had nothing to do with the question. That means you're off topic. I didn't create this forum and I mostly disagree with OWS (ask around they'll tell you) but I do try to stay on topic when I comment.

[-] 1 points by AtomicZ (149) 10 years ago

This should be the OWS refrigrator magnet christmas stuffer

"Silly wabbit!

Capitalism is not the issue. A well regulated free market economy is how America thrives. Regulation is the democratic common ground between those who want to trust in a free economy and those who would prey on the people who want to trust in a free economy.

Unregulated predatory economic fascism is the problem. A system where the few can over-concentrate economic power to themselves in a way that deprives the majority of economic opportunity and subverts the political system with economic corruption. This system undermines the free flow of supply demand economics and hurts the majority..."

I WISH eye WROTE THIS

peace

AtomicZ...

[-] 0 points by Perspective (-243) 10 years ago

Good comment,thank you.

[-] 1 points by alsaba (2) 10 years ago

It appears the only help you desire is the usual vitriol conversation.

[-] 0 points by Perspective (-243) 10 years ago

Umm you seem to be the only person so far that feels that way. nucleus gave a good list and elaborated on it. gregb325 gave a list and also went into detail about his own personal experience. I can't see where I said anything vitriolic anywhere.

[-] 1 points by TheMaster (63) 10 years ago

Self interest is the only way.

[-] 1 points by gregb325 (133) from Scranton, PA 10 years ago

www.hkgroup.com Cutting employees, salaries, laying off long term workers replacing them with new employees (lower pay) while Keeping owners/families salaries intact, purchasing a new company helicopter, buying expensive autos for personal museum, vacationing while maintaining they are a patriotic god fearing family run company.

[-] 0 points by utahdebater (-72) 10 years ago

Sorry to break it to you, but life isn't exactly fair. Executives are simply making the most of what they're given. If you have a problem with that that's your problem, not the worlds.

[-] 1 points by gregb325 (133) from Scranton, PA 10 years ago

its called blowing smoke up my ass, and I dont like it....you? The employees are constantly asked to give back. All pretty much do. BUT when long term hard working employees are let go, only to be replaced with new faces so that the pay rate comes down from $17 an hour to $9 an hour, when 401k match is stopped, when the employee pays 75% of their insurance, when family memebers are hired at the expense of cutting 25 year employees, all becaues the executives greed is running the company into the ground. Its called corporate greed....the theme of this post. Personally, I cant wait for the top heavy greed corporation to capsize. All top heavy companies eventually do.

[-] 0 points by utahdebater (-72) 10 years ago

So why protest them when (if what you say is true) they're just gonna self destruct in the end?

[-] 1 points by gregb325 (133) from Scranton, PA 10 years ago

just an example of corporate greed. Pretty typical in America these days.

[-] 1 points by utahdebater (-72) 10 years ago

Still, what's the point of protesting something that's self destructive? If they're self destructive this is merely the peak of a cycle and it will soon drop off. THEN it will be time to go out and change the world.

[-] 1 points by gregb325 (133) from Scranton, PA 10 years ago

Good point.

[-] 0 points by Perspective (-243) 10 years ago

you started out good but then tapered off into people's personal things such as buying cars or taking vacations. These are things people purchase with their income not corporations.

[-] 1 points by gregb325 (133) from Scranton, PA 10 years ago

Good point.....but it is a family owned business, with approx. 15 of the top 20 positions being family...just dont tell us we need to take pay cuts, layoffs, closinigs to help save the company while no others in upper management are willing to sacrafice as they ask their work force to.

[-] 0 points by Perspective (-243) 10 years ago

An understandable position in your situation.

[-] 0 points by betuadollar (-313) 10 years ago

Corporate greed is when the CEO intentionally structures the company so that it is financially ripe for a takeover, all so he can retire early and finally cash out his stock options. Thousands are un-employed and he walks away a multimillionaire. Happens all the time.

It's all good, though. Because what it will do is ensure that the next generation is much more prudent in career choices and much more frugal in preparation of the future.