While Trump Fiddles, Ford Sacrifices 20,000 Employees to Wall Street Investors
I’ll say this for Donny Boy, he really knows how to throw a good reality show. If you were running a live reality show where the goal was to be as outrageous a President as possible in order to keep viewers transfixed on the over-the-top ego-tripping plot, you’d be loving this Trump guy because he attracts and keeps viewers. Come to think of it, everything Trump has done makes sense if all he is is the star of a reality TV show. I think it’s possible that that’s how he sees it, in which case his months in the White House are numbered. But…(freely stealing from Trevor Noah)…
Ain’t nobody got TIME for that!
Meanwhile, back in the corporate boardrooms, Ford has decided to lay off 20,000 probably salaried employees out of a total work force of 201,000 world wide. Ford made a profit of $1.6 billion in the first quarter of 2017, but that’s just not enough to satisfy our financial aristocratic investor class. Pretty important news, I should think, but the antics of Survivor: Child-in-Chief in the White House are sucking up even much of the alternative media’s and ALL of the M$M news organizations’ attention.
Did I see this on TYT or Rawstory or Late Breaking News on JPR, much less on CBS, CNN, MSNBC, or Fox? No. It’s a lead story in today’s World Socialist Web Site.
I’ll post just a few paragraphs of this well-written article, starting with the first two paragraphs and ending with what a Ford employee told a WSWS reporter in the last two:
Just days after shareholders and investors criticized the top executives of Ford Motor Company for the “pathetic performance” of its stock price, the Wall Street Journal reported that Ford is planning to cut 10 percent of its global workforce. The jobs massacre, primarily targeting salaried workers, could affect up to 20,000 of the company’s 201,000 workers worldwide.
The number two US automaker has reported steady profits for seven straight years, including record earnings and operating margins in the last two years, and $1.6 billion in profits in the first quarter of 2017. Nevertheless, Wall Street has punished the Dearborn, Michigan-based corporation by driving down its share value by 40 percent since mid-2014.
<lots of detail about Wall Street machinations and shameless greed and lies>
“We’ve just had a bunch of new people hire in,” James, a worker with five years at Ford’s Chicago Assembly Plant, told the World Socialist Web Site. “I can’t imagine how that would affect you, if you had just started getting your financials in order, and now you’re about to lose your job.
“At the end of the day, investors’ dividends have been breaking records. They’ve got plenty of money. The company and us, we have different needs altogether, but they’re more concerned about the investors’ profits. That’s the problem with capitalism, this whole society and the powers that be.”
The whole article is definitely worth your time. That said, I think it’s important for everyone here not to focus exclusively on Dynasty: The White House reality TV show starring Donald J. Trump. We need to raise as much hell as we can about lots of other corporatist abuse that’s happening all over the place, and questioning the value of a governmental system that allows such abuse to continue, and even rewards it!
Oh, that system has value, all right! It has lots of value for our insatiable and parasitic investor class. But not for those Ford employees and their families. Certainly not for me, and definitely not for most of you who are reading this. I’m not trying to start a CT here(as many of you know, I’m quite skeptical of CTs), I don’t think this was planned by some evil, secret cabal in advance. Damned near everybody, including most of our financial aristocratic bloodsuckers, thought we’d be talking about President Clinton right now.
But why not ruin the lives of at least several hundred thousand ordinary people when the entire nation’s attention is focused on either the Donald Show or the NBA Finals? When you count the families and the local businesses who will lose out when they lose customers, and when you count the citizens of localities who will lose a lot of tax revenue, you could be looking at a million people here. And Ford knows that.
Ford’s stockholders and CEO will rake in tens of millions of dollars, at least, by sacrificing the livelihoods of employees when they’re already fucking filthy rich. And the Democrats won’t emit a squeak of protest, either, because they or their donors’ are investors, too, or because they’re totally focused on the Inept Orange Idiot.
Sorry I went on a bit of a rant there, but this shit really pisses me off. Mrs. Barbarian says the whole Trump thing is a fucking distraction and refuses to watch any of the unfolding story with its inevitable conclusion. So Wall Street, etc can do things like Ford is doing and not even get much bad press. They see an opportunity to do that, and they’re seizing and squeezing it.
Do you think we should keep an eye out for more things like this, which are likely to be coming down the pike in the next few months? If nothing else, this stuff needs to be remembered come the elections.OzoneTom, Enthusiast, A little weird and 23 othersgrouchomarxist, h-32, Fasttense, ctsnowman, Koko, Johnny Rash, Fuddnik, Baba OhReally, tripleQ, Marym625, 99Forever, beemerphill, DesertRat2015, hopemountain, PTTP, Doremus Jessup, wilsonbooks, aspirant, FanBoy, bbgrunt, N2Doc, 7wo7rees, mmonk like this"Identity politics is the last refuge of the politically incompetent." --Me, with a hat tip to Isaac Asimov
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