Wedding photogs expensive? Have you seen other professions eroded by hacks?

"Mxsmanic" wrote in message
...

Only a very shortsighted capitalist would drive jobs overseas.

That would be the *vast* majority of big corporations then.

Trevor.

"Robert Coe" wrote in message
...
: Only a very shortsighted capitalist would drive jobs overseas.

Then the U.S., at least, has a lot of shortsighted capitalists.

Exactly, and it's not alone.

Trevor.

On Sun, 05 Feb 2012 10:21:19 +0100, Mxsmanic wrote:
: PeterN writes:
:
: Not at all an accurate statement. You may check discussion boards on
: management compensation.
:
: Management compensation is based directly on management's ability to generate
: profits for the next quarter, even if it means destroying the company over the
: longer term.

It's worse than that. CEOs sit on each other's Boards of Directors and help
jack each other's compensation up, using the entirely spurious argument that
"we have to do it to hold onto such a skilled and valuable executive". It's a
plus if the company actually is profitable, but it usually isn't a
requirement.

Not generating profits can get a CEO fired or his company merged out of
existence, but then he leaves with a huge golden parachute that his cronies
from the other companies have quietly put in place.

Bob

On 2/5/2012 12:19 AM, Robert Coe wrote:
On Sat, 04 Feb 2012 22:58:54 -0500, wrote:
: On Sat, 04 Feb 2012 21:54:56 -0500,
: wrote:
: : On 2/4/2012 8:59 PM, Robert Coe wrote:
: :
: :snip
: : Careful, Rich will call you a communist for saying that. ;^)
: :
: :
: : To change the topic, when is Martha's birthday?
: :
: :http://www.buy.com/prod/1-1-ef-70-200mm-7d-coffee-cup-mug-for-canon-lens-new/219203527.html
:
:guffaw!! Not for almost a year, but I see your point! But how could a mug
: that shape stay upright? It looks *WAY* top-heavy. :^)

And after what happened to that top-heavy cruise ship, I don't think I want
the risk of having coffee all over my floor!


Some years ago I went into a research library carrying my coffee mug.
The librarian gave me that stern librarian look while informing me that
only spill proof mugs were allowed. I said this was, and proceeded to
demonstrate by turning it upside down. I soon realized that I had
forgotten to tighten the top. The librarian, recognized my embarrassment
and told me that empty mugs were OK.



--
Peter

On 2/5/2012 4:21 AM, Mxsmanic wrote:
PeterN writes:

Not at all an accurate statement. You may check discussion boards on
management compensation.

Management compensation is based directly on management's ability to generate
profits for the next quarter, even if it means destroying the company over the
longer term.

So, that is not a shareholder decision.

--
Peter

On Sun, 05 Feb 2012 08:55:33 -0500, tony cooper
wrote:
: On Sun, 05 Feb 2012 10:21:19 +0100, Mxsmanic
: wrote:
:
: PeterN writes:
:
: Not at all an accurate statement. You may check discussion boards on
: management compensation.
:
: Management compensation is based directly on management's ability to generate
: profits for the next quarter, even if it means destroying the company over the
: longer term.
:
: Northwestern University's graduate school of business failed to
: properly educate me, I guess. I wasn't taught that corporations were
: required to compensate management personnel on a quarter-by-quarter
: profitability scale. I left under the impression that all
: corporations are free to determine management compensation according
: to their own goals, and that those goals could be long-term.

Two quarters without "expected" earnings and Bain Capital will have you in
their gun sight.

Bob

On 2/5/2012 11:17 AM, Mxsmanic wrote:
tony cooper writes:

I wasn't taught that corporations were required to compensate
management personnel on a quarter-by-quarter profitability scale.

It is not required by law. It is simply a de facto business standard. And,
unfortunately, it's not a very smart one.

I left under the impression that all
corporations are free to determine management compensation according
to their own goals, and that those goals could be long-term.

In practice, the goals are set by anonymous shareholders, and they are always
short-term profit goals.


Where is your data to back up that statement?




The only time you see long-term goals is when a company is controlled by a
majority stockholder with a keen personal interest in the long-term health and
success of the enterprise. This is the case with many privately-held
companies, for example.


--
Peter

Eric Stevens wrote:
On 04 Feb 2012 20:16:50 GMT, (Ray Fischer) wrote:
RichA wrote:
There is a complaint in the trade's industry in Toronto that Third
Worlder's with no apparent training or skill are vastly underpricing
jobs, eroding wages in the industries (mostly contractors) and hurting
the industry's overall image by doing sub-par work.

http://www.dpreview.com/news/2012/01...rices#comments

Isn't "eroded by hacks" another term for "capitalism" and "market
forces driving down costs"?

Whatever it is, its not capitalism.

Of course it is.

How about a variation of 'bad
money drives out good'?

That's capitalism. Free market.

Nobody said that capitalism, by itself, is smart. Unregulated
and unmoderated capitalism can be extremely destructive.

--
Ray Fischer | None are more hopelessly enslaved than those who falsely believe they are free.
| Goethe

Mxsmanic wrote:
Ray Fischer writes:

Isn't "eroded by hacks" another term for "capitalism" and "market
forces driving down costs"?

Only a very shortsighted capitalist would drive jobs overseas.

Really? If I make myself a millionare why would I care about driving
jobs overseas? If the local economy tanks I still have the resources
to move to somewhere pleasant.

--
Ray Fischer | None are more hopelessly enslaved than those who falsely believe they are free.
| Goethe

Robert Coe wrote:
On 04 Feb 2012 20:16:50 GMT, (Ray Fischer) wrote:
: RichA wrote:
: There is a complaint in the trade's industry in Toronto that Third
: Worlder's with no apparent training or skill are vastly underpricing
: jobs, eroding wages in the industries (mostly contractors) and hurting
: the industry's overall image by doing sub-par work.
:
: http://www.dpreview.com/news/2012/01...rices#comments
:
: Isn't "eroded by hacks" another term for "capitalism" and "market
: forces driving down costs"?

Careful, Rich will call you a communist for saying that. ;^)

Yes, well, it does seem that his understanding of capitalism and
socialism are reversed.

--
Ray Fischer | None are more hopelessly enslaved than those who falsely believe they are free.
| Goethe