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Thread: Obama Tells Companies to 'Step Up' and Hire Workers

  1. #91
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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by theplaydrive View Post
    I'm not talking about throwing away profits. I'm talking about not taking a $15 million dollar bonus when you can afford to hire people who need the money. I'm talking about companies whose quality of service is down because they are down to the bare minimum of employees (something investors also don't want to invest in), but who take that $15 million instead of hiring more regular employees.
    The investors reward the CEO for increasing their profits.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by MrVicchio View Post
    The investors reward the CEO for increasing their profits.
    CEOs can forego their pay as many have done.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by theplaydrive View Post
    CEOs can forego their pay as many have done.
    They forgo pay but not incentive packages, most fo that is PR moves to appeal to the class warfare crowd.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by MrVicchio View Post
    They forgo pay but not incentive packages, most fo that is PR moves to appeal to the class warfare crowd.
    That's true and if they were held accountable like public workers and unions are, then it people would demand more than a PR move.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by theplaydrive View Post
    I personally think that after the economy recovers, some business are going to suffer because they chose not to hire employees (for short term profit boosts) whose presence could improve their service while others did hire more people looking at the long term benefits of hiring more employees and not existing at the bare minimum.
    I don't disagree. Coming out of a recession, there can be opportunities not available during periods of economic growth. For example, top-tier programmers might be available to small- or mid-sized firms when typically they would have been unavailable on account of being retained by the industry leader who paid higher wages. Balancing is key. The business that is in a competitive position to snap up some of those top-tier programmers could well achieve long-term competitive gains from having to done so. The same would be true with respect to acquisitions. An acquisition might be too expensive during an economic boom. Coming out of a recession, the price could be far lower. Those are examples of investments that would be justified by the competitive situation (an opportunity to make marketplace gains in the long-run).

    The same kind of balancing is required between short-term and long-term decisions. For instance, a firm could set a goal of providing the highest possible profits each year. One cost that would be cut to the bone would be R&D, because R&D is treated as an expense for financial and tax accounting purposes. Such a firm might achieve higher short-term profits than a rival, but the rival's consistent R&D spending could lead to much larger long-term profits courtesy of resulting innovation and differentiation. Of course, in times of distress, a firm may not have the luxury to spend on R&D, e.g., when it has liquidity challenges that make it necessary to conserve cash in order to pay suppliers, employees, etc.

    In short, my point is that one cannot make a general statement that businesses should hire now, because the economy is improving. The decision is much more complicated.

    The President's argument is justified by his having broader interests to deal with (economic, political, social welfare, etc.) and it is a position I empathize with. In addition, a high unemployment rate is not good for the nation's welfare. For companies, the considerations are narrower and there can be conflicts between what the President needs/desires and what companies need/desire.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by theplaydrive View Post
    CEOs can forego their pay as many have done.
    Why should they have to?

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by muciti View Post
    Why should they have to?
    I'm not saying they should have to, I'm saying when they don't in some cases (cases when they can and when that money can be used to hire people who won't hurt the company), they share responsibility in the high unemployment rate.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by muciti View Post
    Why should they have to?
    it's the whole 'share the wealth' & 'sometimes, you've made enough money' redistribution nonsense.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by MrVicchio View Post
    This is what's wrong with Obama. He doesn't understand what makes businesses tick, economies grow. The man's ignorance is damned scary.
    What a joke Obama is. "Do it NOW! Your dear leader has spoken!" LOL....This may work for Chavez, not here.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

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    Re: Obama Tells Companies to 'Step Up' and Hire Workers

    Quote Originally Posted by theplaydrive View Post
    I'm not saying they should have to, I'm saying when they don't in some cases (cases when they can and when that money can be used to hire people who won't hurt the company), they share responsibility in the high unemployment rate.
    Playdrive- You do not seem to understand the concept of free enterprise. A business has no responsibility to reduce unemployment rates. It is not their responsibility to reduce the deficit. Their only responsibility is to make as much money as possible. That is the point of a business. Otherwise it is a charity. If as a country we want to encourage business to hire, then we need to provide the incentives for them to do so. You cannot blame a business or a person who does what is in its own best interest (legally). Its our responsibility to make sure that it is in a businesses best interest to hire us.

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