Originally Posted by Dnic41
Simple. Publicly traded companies need to die. This bow down and do everything for the sake of the shareholder needs to stop.
What is wrong with a healthy profit? Simple, never ending greed.
The problem isn't the company, but the laws in which they have to be ran under. The laws that were passed by our Government, they are wrong, and essentially state that a Corporation must protect Shareholder interests at pretty much any cost.
My company is a Corporation, we are currently fighting
to change to a Partnership. Part of doing this is dealing with a full audit by the tax authorities, to make sure we aren't hiding anything. We just want to get to a structure that allows us a little more freedom with our business, instead of having to follow absolutely insane laws/rules.
A great example of a pain in the ass, although small, is accounting for purchases. If a purchase is $200 or greater we have to break it down in the books, line item by line item. How does this become a pain in the ass? Well..
Let's say we send in a fleet vehicle for service, lets say that service is $600 and was various parts. We have to pay our people to enter into the books EVERY line item for the entire order. Instead of that person just entering in "$600" under vehicle maintenance with the invoice number, and filing the invoice into our records they have to break it down...
Oil Filter -
Or however it is broken down on the invoice from the shop. We already have to keep the detailed invoice in our permanent records, but we have to enter line item by line item. The Government, as a Corporation, is so permanently attached to your ass, it makes operations difficult at times. So situations are created of having these "small" rules, but when you have 15,000 small rules to follow, things get difficult. Carrying a single brick isn't a big deal, but when you have to carry a whole bunch of those little bricks, it gets heavy.
What I am getting at is people are so quick to come down on Corporations as evil, when in a lot of situations they are just following the laws and rules they have to follow. Obviously you have cases of extreme greed that were illegal, like predatory lending, but in scale those were rare situations.
Look at the big financial crash, that was an issue of greed and new laws by the Government.Edited by PostalTwinkie - 3/24/14 at 11:09am