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Corporations profit are soaring. CEO salaries saw unprecedented growth. Yet workers salaries lost value because of inflation. Corporate America, driven by shareholders, is only about the short term profits. Not long term viability.
Corporations profit are soaring. CEO salaries saw unprecedented growth. Yet workers salaries lost value because of inflation. Corporate America, driven by shareholders, is only about the short term profits. Not long term viability.
My company was owned by a private equity firm. It was mismanaged, they sold all the assets, paid themselves hundreds of millions of dollars in bonuses, with loans. Didnt pay their sales taxes for 3 years. Then declared bankruptcy. The Judge rejected their bankruptcy plan, because so many people are suing them.
I call this predatory capitalism. Capitalism is the best system, but only when you have an ethical basis. We have a weird mix of ethical capitalism, predatory capitalism, crony capitalism. A company like Kwik-Trip, that treats it workers well, has excellent customer service, and excellent value is totally dominating the marketplace. Its astonishing how much better quality control a privately owned company, with a long term plan, than a corporation worried only about quarterly reports.
I dont know anything about the KC plant, but I have posted previously that I think HDs Board of Directors is out of touch, and misleading the company.
Corporations profit are soaring. CEO salaries saw unprecedented growth. Yet workers salaries lost value because of inflation. Corporate America, driven by shareholders, is only about the short term profits. Not long term viability.
the real theft from the American worker is all the public employee pensions being paid out. CEOs and such have nothing on the fleecing of the public going on by so called public servants.
Just one state as an example, Illinois twenty three thousand retirees receiving over one hundred thousand per year of your tax dollars. Seventy one thousand active employees of the state receive more than one hundred thousand. That CEO may earn a truck load more than the guy on the line but he ain't going to be the reason your taxes will balloon and the state won't give a **** if you cannot pay your taxes and just take your stuff.
It is sad that it's been closed but you can't keep a plant open when there is a decline in purchasing of the product produced. Having been through a couple of layoffs myself, I wish those affected good luck and the ability to find meaningful work elsewhere. If you are one, look into trade school or college to improve marketable skills or skills that can lead to business ownership.
Harley has been consolidating its operation since Keith Wandell was the CEO, back in 2008.....the crisis affected everyone and H-D was no different.
By that time, their core consumers have been diminishing as they kept putting even more bikes on the streets (remember the 90's when H-D had a waiting list?)
Since then, Capitol Dr. Plant has been closed and consolidated into Pilgrim Rd. (and now is a U-Haul location and self-storage...been there last week), Franklin Dist Center was closed and outsourcing was the solution.
Remaining are Tomahawk (fiberglass), York (final assembly) and Pilgrim Rd (Powertrain).
Another point to notice is that it's more interesting to have a single facility that can do just about everything from end-to-end than several different properties scattered through the country.
Other partners also shut down its doors as part of Wandell's reorganization....CastAlloy in Australia is an exampla.
On the other hand, HD has it's international Mkt growing and its expansion with an all new Assembly line in Brazil (the 1st was opened in 1999 and now expanded in 2012), the India operation and now Thailand are examples that the investment is going elsewhere....not to say they're thinking in also having a similar operation in Europe.
Note, that despite the many assembly lines overseas....all components are US-Made (i've seen at the Brazilian Plant).
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