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The "New" UPS - Scott Davis CEO - vs.- The 2013 Teamsters
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<blockquote data-quote="Dracula" data-source="post: 1106371" data-attributes="member: 42691"><p>None of this surprises me. This is the direction Wall Street has taken since Reagan threw off the reins. The chase for quarterly performance is one of the big reasons why the world economy crashed the way it did. When the only goal is aimed only a few quarters in advance, the urge to sacrifice long term stability for the big gains in the short term. If your bonus is determined by a quarterly goal, you will do whatever it takes to hit that goal, up to, and including cooking the books. This is what happened with the sub-prime mortgage securities. The same applies to cutting corporate costs. A CEO could easily cut large sections of a company apart and liquidate them, reducing costs and bumping up the stock price in the short term. The company, in many cases, is permanently damaged when reality sets in. But most of the time, that CEO is long gone when the hemorrhaging begins.</p><p></p><p>This is what happens when a private company goes public.</p></blockquote><p></p>
[QUOTE="Dracula, post: 1106371, member: 42691"] None of this surprises me. This is the direction Wall Street has taken since Reagan threw off the reins. The chase for quarterly performance is one of the big reasons why the world economy crashed the way it did. When the only goal is aimed only a few quarters in advance, the urge to sacrifice long term stability for the big gains in the short term. If your bonus is determined by a quarterly goal, you will do whatever it takes to hit that goal, up to, and including cooking the books. This is what happened with the sub-prime mortgage securities. The same applies to cutting corporate costs. A CEO could easily cut large sections of a company apart and liquidate them, reducing costs and bumping up the stock price in the short term. The company, in many cases, is permanently damaged when reality sets in. But most of the time, that CEO is long gone when the hemorrhaging begins. This is what happens when a private company goes public. [/QUOTE]
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The "New" UPS - Scott Davis CEO - vs.- The 2013 Teamsters
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