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Yesterday I posted my opinions about Macy's being shoved down the throats of Chicago after they took over Marshall Field's. I had good feedback, which is always welcome. My brother, however, raised a point which I feel is the core to many of societies problems.
"It (Marshall Field's) was underperforming, hence being bought three times.
I agree that every city needs it's identity but money dictates more."
I will key on the word underperforming.
In Economics 101 you learn that in business the goal is to make money. In the corporate world you have to make more money. It doesn't matter how much profit you make as long as you make more than the last time.
I used to work for the number 1 waste hauling company in the world. We were making $15 billion a year. Yet for the greedy money grubbers at the top, they wanted more. Wall Street wanted more. Every stockholder wanted more. They all said the company was underperforming. Well, the only way to make $15 billion look like more money is to lower your expenses. The fastest way to lower your expenses is to layoff workers. I survived one set of layoffs. That kept the money grubbers happy for awhile. But, they still wanted more. Long story short, my company sold themselves. I mean, they merged with a much smaller company, they gave the smaller company all the control, the smaller company laid off some 1300 employees, then they moved the company to Texas. But, guess what? On paper their profits went up. The grubbers were happy.
I would have celebrated my 18th anniversary with them. The people there treated me well. I was the first person with a disability to work for them. I was never physically stronger than I was working there. All the people were great. Yet, we were underperforming.
9 years has past since I, and many others were let go. The company stock price is at $34.90 today. Just a mere $6 more than it was when we were underperforming. I hope the grubbers are happy.
I'm trying to point out that as a society we need to look at more then just the bottom line. Otherwise, we are just an underperforming society. Our profits of hope must not be diminished.