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 =
market.
*****
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 =
irony.
*****
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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