Sacrificing future competiveness corporations do most anything to preserve current profits
As China Hacked, U.S. Businesses Turned A Blind Eye - NPR
"Technology theft and other unfair business practices originating from China are costing the American economy more than $57 billion a year, White House officials believe, and they expect that figure to grow.
Government and business leaders interviewed by NPR and Frontline said individual companies were making millions of dollars in China over the past decade and a half and didn't want to hurt short-term profits by coming forward. They demanded secrecy, even in the face of outright theft.
But now the impact of that secrecy is coming to light, they say. Companies are facing hundreds of millions of dollars in future losses from the theft, and U.S. officials say they are years behind trying to tackle the problem."
Big Tech's Big Tax Ruse: Industry Splurges on Buybacks Not Jobs - Bloomberg
"Some of the largest U.S. technology companies pushed for a corporate tax overhaul in 2017 by suggesting they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, data show these firms gave most of their huge tax savings to investors.
The top 10 U.S. tech companies spent more than $169 billion purchasing their shares in 2018, a 55 percent jump from the year before the tax changes, according to data compiled by Bloomberg. The industry as a whole authorized the greatest number of share buybacks ever recorded, totaling $387 billion, according to TrimTabs Investment Research. That’s more than triple the amount in 2017."
Another shining example of how the short-term maximization of shareholder value by our noble corporate executive class resulted in damaging and unforeseen results. But wait, There's more:
Australia approves vast coal mine near Great Barrier Reef - phys.org
Opponents warn it will create a new generation of coal exports—which will be burned in India and China—contributing to further degrade the planet.
Conservationists also say the mine threatens local vulnerable species and means coal will have to be shipped from a port near the World Heritage-listed Barrier Reef.
Supporters say it will bring thousands of much-needed jobs to rural Queensland.
But, I have a few questions regarding the progress resulting from their greedy, single-minded, shoulder-climbing pursuit of individual happiness
"Technology theft and other unfair business practices originating from China are costing the American economy more than $57 billion a year, White House officials believe, and they expect that figure to grow.
Government and business leaders interviewed by NPR and Frontline said individual companies were making millions of dollars in China over the past decade and a half and didn't want to hurt short-term profits by coming forward. They demanded secrecy, even in the face of outright theft.
But now the impact of that secrecy is coming to light, they say. Companies are facing hundreds of millions of dollars in future losses from the theft, and U.S. officials say they are years behind trying to tackle the problem."
Big Tech's Big Tax Ruse: Industry Splurges on Buybacks Not Jobs - Bloomberg
"Some of the largest U.S. technology companies pushed for a corporate tax overhaul in 2017 by suggesting they would go on hiring sprees and boost the economy. Just over a year after getting what they wanted, data show these firms gave most of their huge tax savings to investors.
The top 10 U.S. tech companies spent more than $169 billion purchasing their shares in 2018, a 55 percent jump from the year before the tax changes, according to data compiled by Bloomberg. The industry as a whole authorized the greatest number of share buybacks ever recorded, totaling $387 billion, according to TrimTabs Investment Research. That’s more than triple the amount in 2017."
Another shining example of how the short-term maximization of shareholder value by our noble corporate executive class resulted in damaging and unforeseen results. But wait, There's more:
Australia approves vast coal mine near Great Barrier Reef - phys.org
Opponents warn it will create a new generation of coal exports—which will be burned in India and China—contributing to further degrade the planet.
Conservationists also say the mine threatens local vulnerable species and means coal will have to be shipped from a port near the World Heritage-listed Barrier Reef.
Supporters say it will bring thousands of much-needed jobs to rural Queensland.
But, I have a few questions regarding the progress resulting from their greedy, single-minded, shoulder-climbing pursuit of individual happiness
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