(en) That's capitalism

Dr Groove (dr_groove@geocities.com)
Thu, 19 Jun 1997 11:23:43 +0000

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This article is from the Irish Anarchist Paper =

Workers Solidarity, No 51 Summer 1997

That's capitalism

A hurdle as important as the 4 minute mile was finally =

overcome in Corporate America when a CEO finally cracked =

the $100 million dollar compensation barrier in the non-Bill =

Gates division. This stunning achievement was attained by =

Lawrence Coss, head of Green Tree Financial, a firm that =

loans money for mobile homes. Mr. Coss was given a $102 =

million bonus because, said company spokesman John =

Dolphin, "The shareholders are delighted with Green Tree's =

performance... The only downside is you have to answer the =

media critics." (What a downer).

Meanwhile only the Wall Street Journal of March 27th =

reported on how Mr. Coss managed to delight his =

stockholders. Green Tree's profits came from low income =

senior citizens who pay inflated loan rates for their =

"manufactured homes" because of what the American =

Association of Retired Persons describes as a lack of lending =

competition. Mr. Coss had the "vision" to see this captive =



Explaining why his Christian Broadcasting Network was =

going to begin producing soap operas and game shows, Pat =

Robertson admitted: "Frankly, only a masochist would want =

to watch religious shows all day long."


Ryanair Chief Executive, Michael O'Leary, received =A316.75 =

million in bonuses alone over the last three years. This is =

enough to provide all 650 of his low paid staff with =A325,760 =

each. But O'Leary has refused employees' demands for =

improvements in pay and conditions because the company =

"can not afford it".


The 'market socialism' of the Stalinist regimes in China and =

Vietnam has moved into the slave market. At least 12,000 =

Vietnamese women have been sold to Chinese brothels or =

forced into 'marriages' with Chinese men since 1991, =

according to the official Vietnam Womens Union. Most of =

the women were kidnapped by criminal gangs and sold on to =

pimps, who prevent them returning home.


In the run up to the general election Fianna F=E1il, Labour and =

DL all argued over who was most sincere in wanting to =

legislate for a minimum wage. So how come the Southern =

Health Board, packed with politicians and their supporters, =

only pays a miserly =A31.40 an hour to their 2,000 home helps? =

These workers do vital work, looking after the ill and elderly =

in their own homes. The last increase they got was five years =

ago when they were given an extra 25p an hour.


US Vice President Al Gore visited Japan recently, and claimed =

that the United States and Japan would become leaders in =

persuading other industrial and developing nations (such as =

China and India) to pass environmental laws (such as limits =

on carbon monoxide and other greenhouse gases). Of course, =

no mention was made of the United States or Japan of passing =

any environmental laws regarding their own countries. And, =

or course, the press did not bother to point out this little =



The British advertising agency Impact FCA has created a new, =

insidious marketing plan for its German telecom company =

Siemens. They have employed 100 London cab drivers to =

insert little plugs and comments for Siemens products into =

their casual banter with their passengers. The drivers must =

mention three key selling points: German technology, a small =

but powerful battery, and the ability to upgrade the telephone =

for more services. What if this trend continues? Corporate =

sponsorship of waitresses, bartenders, even average citizens =

on the street?


The cheek of the bosses knows no bounds. At the annual =

shareholders meeting of Irish Life, the chairperon, Mr Conor =

McCarthy, said the firm's performance over the past year was =

"a cause for celebration". This did not go down well with the =

staff who have been locked out since February. "Celebrations =

for yourselves, the fat cats taking big pay rises" was the =

response from 100 workers present.

------------------------------------------------ This article is from the Irish Anarchist Paper =

Workers Solidarity, No 51 Summer 1997

The whole issue and previous issues can be found at http://www.geocities.com/Athens/2724/anpubdx.html

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