Max King of the Wild said:
Holy shit businesses make hundreds of millions of dollars in profits? why havent I opened up a local gyro/hot dog/taco place yet... PS. My post is obvious sarcasim. You are severly overestimating businesses. |
Not big ones. Though I'm not sure what a company like Best Buy make at this time, since as I said, retailers are feeling the pressures of poor economies. But I'll give you another example. Rogers Communications up here in Canada, their net income is 1.56 billion. Guess how many people they cut yearly? This past march they let 300 people go. I can assure you, they could have kept those 300 people and hired another 300 and it wouldn't have put a huge dent into their profits. But since they're used to making 1.56 billion dollars annually investors are gonna freak out if they don't make that, or get it higher. So what's the CEO supposed to do? Do what's best for the economy and keep people employed? Or cut jobs since that's the fastest way to get profits up? Sure ain't keeping people employed. And then people wonder why economies are bad.
Edit: Just looked up Best Buy's net income, they're profiting 1.23 billion dollars, yet they're closing stores and making people unemployed.
