Corporate Myopia: Shortsighted Businessmen
The phrase pretty much defines itself. It is summarized in the obsession with quarterly bottom-line over long-term profitability. This obsession manifests in many ways, public and private ... legal and illegal.
The question is not what does "Corporate Myopia" mean but why is it prevalence increasing at the highest level of corporate decision-making. The answer is simple: Bastard Stocks, that is, stocks that are divorced from the corporate cashflow which prey on workers' pensions and savings. Bastard stocks flood the public markets in the form of IPOs and stock options. Because corporate kingpins make more money from selling funny paper to foolish workers (who are more interested in daily sports than lifelong survival), the kingpins keep printing this private currency to trade for public currency.
Bastard stock options have been and are the death certificates of America. By focusing on the value of symbols rather than value of substance, corporate kingpins have opted to send American jobs overseas to benefit from the inherent short-term gains of dysfunctional currencies. By hiking short-term bottom-line gains, bastard stock opters gain more money for themselves.
Because stock options are so filthy lucrative, the top CEO's pay themselves little or nothing. Bile Guts of Maggotsoft only paid himself a few hundred thousands of dollars in salary while cashing in billions of self-printed stock options to pursue his quest to buy a Nobel Peace Prize. The "do no evil" boys of Google paid themselves nothing while cashing in billions of stock options, giiggling all the way to the bank when not buying $50 million jets for private use.
Some of the richest companies setting on billions of dollars have paid little or no dividends, e.g., Apple, Microsoft, Google. Why should the insiders pay dividends when they can print private currencies to trade for the public currencies with which they buy their M&M's: mansions and mistresses. Why should corporations sitting on trillions of dollars spend them on creating jobs when the cash reserves serve to inflate market prices and allow buybacks. This is not capitalism. It is decapitalism which is economic bloodshed. Therein is the rub.
The massive transfer of wealth to the top fewer few is part and parcel to why the middle-class is disappearing. But the middle-class has only itself to blame ... finding once again that igknowance is bliss until the igknowed problems blitz your life away. Afterall, all play and no politics makes Jack and Jill desperate, destitute and demised. The rub is how these former middle-class rubes will be the angry masses behind class warfare that will rub out the legal thieves better known as Wall Stealers.
It is just the way it has been throughout history and will be once again. Greedy businessmen for short-term gains favor Kodak moment morality instead of the video calculus of cradle-to-grave morality.
But, the elephant in the room, makes the economic myopia un-important: Global Dying from rising CO2 gases tied to the corporate rush for more money in the short-term. As shown in the AlphaTrifecta, they and theirs breathe the same air that is spiking the rise in autism, ADHD and alzheimer as well as allergies. As ole Geo. S. said, those who don't learn from the past are doomed to repeat it.
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