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Corporate Greed

Entry 1030, on 2009-06-10 at 21:35:26 (Rating 5, Politics)

This blog entry is a bit of a rant and does stereotype certain types of people. If you have a problem with this then tough luck. Although I have indulged in a bit of rhetoric here I think the underlying message is sound.

The more I learn about corporations and the top levels of management the less respect I have for them. Just today there were two examples of corporate greed. First there was the generous offer by the top executives of Fonterra to freeze their pay. Some clown called Andrew Ferrier is CEO and he made a mere $4 million last year so I really just don't know how he'll survive without another 20% increase like he got from the year before.

Its bad enough that these scumbags accept huge salaries for doing nothing in particular but then adding insult to injury by pretending to make a non-existent sacrifice is just too much.

And then there's the banks. They are getting so bad that even our center-right government is talking about trying to put some controls on them. I don't think they would go as far as introducing regulations but there are more subtle pressures they might be able to use.

Another slimy individual by the name of Jenny Fagg is CE of one of our major banks which ships huge profits overseas every year. But too much is never enough for these people. They always want more and they never look beyond a quick profit no matter what the consequences are in the longer term.

I can never understand why people are so enthusiastic about encouraging foreign investment here. Why would investors from other countries invest here? There's only one reason I can think of: they think they can extract more money and feel less guilty about it than they would if it was their own country.

Can anyone really show me where foreign investment has had a good long term outcome for this country? The banks: ripping us off. Railways: run into the ground, profits extracted, sold back at twice what they were worth. Our airline? Almost destroyed and only saved by the government. Telecommunications? A horrible duopoly with over-priced mediocre services. The list goes on.

Its time people wised up and realised that foreign investment isn't as great as its meant to be and the type of person who runs a big corporation didn't get there because of his/her (some of the most evil are women, remember Theresa Gattung?) moral superiority. Show me a CEO and I'll show you someone motivated primarily by just one thing: greed!

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