"And I just racked it, and they ran."

[Kevatc]

I don't see anyone jumping to a picket line to protest how corrupt the Native Americans divvy out funds from Casino earnings, yet when big companies make big money and give their CEOs big salaries, it's somehow wrong? These companies aren't sweatshops, mind you.

Big companies = publicly traded. Native American casino = sovereign. Apples and cinder blocks.

 

[greydog111]

Wal-mart is a publicly traded company, it belongs to its stockholders. Now one of the first things you learn in business school is that the primary mission of a corporation is to enhance shareholder value. A few, mostly smaller, corporations are closely held, i.e. a majority of the stock is owned by one person or a small group of people. Usually these majority owners make up the board thus their interests and those of the corporation are closely aligned. In most cases however, the stock of large corporations is held by all manner of mutual funds, IRA's, pension funds, investment firms, day traders, etc. etc. With this diffusion of ownership often comes a loss of any real direct accountability on the part of the board and management. Lacking a united overseeing force the only real mechanism keeping the company on track is its stock price - which as we have seen is subject to all kinds of manipulation. Making changes to the board of directors (who exercise control over senior management) is near impossible unless you are a big time player - in which case you are probably on the board already. Now as someone already mentioned the relationship between senior management and boards of directors tends to be highly incestuous. It is very common for CEO's and CFO's to sit on boards of other corporations. The end result is an extensive "old boys network" that puts self interest ahead of the interests of the shareholders (the owners).

As far as "its your money" I don't even know where to begin with such a can of worms. How do we objectively determine how much of "your money" is actually your money? How many people helped you make "your money". Who rightfully decides who gets what piece of the pie? Would you have the same amount of money under a different political system? No political system? What costs of your industry did you not pay directly (externalities)? What portion of "your money" was made possible by public infrastructure? What portion of the military was employed in protecting you so you could make your money? What is your "just" share of the tax burden?
Do you see how this is not a simple thing?
While capitalism is based upon selfish interest you cannot reduce it to the level of natural law, it cannot exist in a Hobbesian "state of nature". Once you throw out the rules (political structure) it quickly becomes every man for himself and thus no real conglomeration of wealth is possible.

I swore I was done, but, Bob this is the most thoughtful, cogient, and reasoned statement from you yet. I am reassured in the process of logic and rationality of our forum. By the way, Bi Mart is employee owned too. Greydog. Semper Fi and happy Vets Day to all.