More Evidence of Corporate War Profiteering

This article highlights several points from the new report from the Institute for Policy Studies and United for a Fair Economy, "Executive Excess 2006." Some of the highlights include the pay rate increases for defence industry CEO's since 9-11 and oil CEO's, both US and European, and their respective pay raises. It also raises interesting questions about the overall pay grades of their respective employees and one or two insightful comparisons.



For anyone who has been following big business trends over the last decade, including under Bill Clinton, will not be surprised by this article, just more dismay, but for those of you who don't really know the solid facts on some of the world's richest CEO's, then this article is definitely something you should read. It puts things back into perspective, because these pay grades are not the entire company, they are just the CEO.

While profits are something that I believe we have to have, there is something called "excessive", and I believe that this article really points that out. Those of you who know me know how I feel about corporations and Large multinational NGO's.... This shows you why I feel the way I do... the ripofl that is occurring at our expense, don't forget we give oil companies billions in grants and tax breaks, and WE pay in taxes for the defense companies to make the products they make, we are footing the bill and it really seems like these CEO's and contractors are just sucking it up and ripping us off.

Hope you all read and are just as offended as myself..

[edit on 31-8-2006 by Elsenorpompom]



[edit on 31/8/2006 by Mirthful Me]

This some B*!@%@$# I'm tried of we the people being used like this!!!!!!!!!

PS: I'm having a Bad day sorry

But think, even as far back as our colonial seperation from the UK (really, even further) this type of profiteering happens. That's why, if handled right, wars make whole countries richer.

Originally posted by jlc163
wars make whole countries richer.

Balderdash, all countries are made of individuals and the vast majority of these individuals are not made richer by war. Wars only make certain Old World Order (owo) cabals richer and these cabals have no national loyalties.

The evidence has been in on corporate war profiteering for years and the defendants are never charged with the crime because they own the US system of government from start to finish. Additionally, no public oversite is possible because the accounting books are fraudlently shrouded in a veil of national security.

Originally posted by jlc163

But think, even as far back as our colonial seperation from the UK (really, even further) this type of profiteering happens. That's why, if handled right, wars make whole countries richer.

That formula worked during ww2 when we were coming out of a depression...
mainly because we actually had jobs available...

Now it works only as well as "trickle down" economics...
or should i say "piss on the guy under ya" economics, because that is what it is...

and if contacts were true fair bid contracts, then mom and pop companies could compete for some of these rich making defense contracts... but guess what?

they aren't, and the big guys always get the "no bid" contracts (or little guys that are owed a political favor) so the wealth doesn't go around...

and in regards to war profiteers... here is some info on how some of the legacys started...

preston bush was a war profiteer, and sold to the nazis (do a find on page, its a long article)

of course, we also have the Cheney connection, and the various companies that are tied in one way or another, TITAN, Dyncorp... ect
all are apparently hunting buddies of someone up top...

[edit on 31-8-2006 by LazarusTheLong]

Just to let you all in on the Staffs stance, or Springers anyway on this. What money they make, how they make it, and what they do with it is none of your business. I can see their point, I mean, war profiteering is a serious problem, its sick, and involves alot more than just corporations. Yes, that means it's a business even for the so called opposition. Shocking.

I prefer to see people speak for themselves...

and in that regard, I agree and disagree with "your Springer" statement...

If people make money from a contract during war, great for them, AS LONG AS THE GOT THE CONTRACT FAIRLY...

and until i see the process used that would guarantee that, then i see these greedy unethical profiteers as scum...

I do love posts like this - whine because you are not in on the big money. For some perspective, lets look at some rough numbers on revenue and CEO pay. For kicks we will keep the percentage the same so here we go:

Revenue
2,000,000 CEO PAY ~ 200,000 or 10% (probably small business and owned by CEO)
20,000,000 CEO PAY @ 10% = 2,000,000 (a lot higher than what most companies pay at that level - more like 250k-500k)
200,000,000 CEO PAY @ 10% = 20,000,000 (whoa now - that's some serious coin)
2,000,000,000 CEO pay @ 10% = 200,000,000 (what..!! nobody making 200mil at a 2B shop, more like 20mil at this level)....

and so on up the scale - percentages are a wonderful thing as the headaches go up in direct proporation to the size of the company while the pay typically does not.

So is it wrong, bad whatever?? Public companies are owned by guess what, the public and that means potentially you and me and lots of other little people. We demand that they grow and provide us an increase in stock price and if excess profits exist, a dividend payment. IF we are happy with those numbers, CEO gets happy pay as voted on by the board, who we happily vote on.

If you don't like it, become an owner and join the party or conversely, you can start your own company and rake it in yourself. Trust me, starting a company and making it big is no piece of cake....

Another thing to mention, is that those big companies with pricey CEO's employ thousands of workers, and thru trickledown provide massive local economies where they operate. Do they have to..?? Is it mandated somewhere that they have to have workers or staff at certain levels - NOPE. Only mandate is that owners are in it to make money and if the owners are happy, CEO's get bank as their life is not their own at that level. We expect them to run a massive ship and make us owner’s money - and that my friends is the bottom line.

Bitch and moan all you want, but as they say, if you can't beat'em, join'em – read, BUY STOCK and join the party..!! Ain't capitalism grand, just choose your picks wisely....

Originally posted by df1

Originally posted by jlc163
wars make whole countries richer.

Balderdash, all countries are made of individuals and the vast majority of these individuals are not made richer by war.

1. Who the hell runs the friggen countries?
2. Who provides job, those with money or those without?

What happens:
1. New Technology. Almost evey single war brings this about.
2. Whole segements of the population that never worked before got used to working and don't want to stop working (reference to WWII)...and 2 people working have more money to spend...and create needs for more jobs becuase they aren't home with their kids.
3. Baby boom...ie. more people to sell/buy and make money.
There's more, but I'm not going to post more to this list of things that help an economy that come from war.

I said nothing about the individuals that get ground under the big corporation's foot, as they were TOTALLY IRRELEVANT TO MY COMMENT. I said nothing about National ebt either, since it wa salso totally irrelevant...National Debt is an issue when we are forced to pay it. Go pick on someone who gives a damn. And anyway, who said all the poor people don't gain from it...talking about genralizations. My hometown econmy is benefitting financially from this war, thank you very much, and I mean the middle class. We're still an oil based economy.

My statement still stands. Countries gain and lose whole piles of wealth due to war. When managed right, they gain from it, severely gain form it. Not every war casues net gains...so even if a Government doens't make the right moved during a war, and they lose, MY POINT WAS STILL VALID. Again, I don't really care.

that totally ignores that these CEOs got their jobs and their contracts thru illegal NO bid processes, and connections
In fact, that totally defies the spirit of free market in which you speak...

A true objectivist will hate the corrupt money maker, as much as the leech...

I respect a TRUE free market, where any company can compete, and the one that can do the best job for the best price gets the contract...

and I will continue to bitch and whine, until a true free market takes over all this connection based corporate war profiteering...

and i refuse to support the cycle of corruption by investing in companies that swindle the American people out of a free market, and substitute a kickback and cradle market...

You have to stand up for what you beleive, or you are giving up your voice for your interests (in this case, my interests are Americas best interests)

It all comes down to "is our country better off in war"
it aint...
you gave some examples, so shall I... (and of course some people will benefit from defense jobs, but those only)
Your town is doing grand,

well, my whole industry is sinking badly... and has since 9-11...
the automotive repair market... and of course, that includes effects upon the big three (soon to be the big two, then the big one, owned by germany)

I work for an international parts sale house... more than half of my customers have gone out of business since 9-11...
more than half my competitors have gone out since 9-11
war has not boosted one thing in my industry... peace boosted us nicely...
I know of 23 unemployed highly trained transmission mechanics that are going to work at walmart soon... because they have to.

I know that we almost got a government contract, but didn't due to it going to a friend of the policy makers (a more expensive bid also)...

I know that we will soon be at the whim of foriegn countries if we want to actually repair a car with new parts... we dont make em here anymore...

I know that domestic companies have no choice but manufacture parts overseas and in Mexico which also cuts jobs...

the defense industries are doing nicely... that is good, since we will all be working for them soon... since everything else is going to hell in a handbasket...



[edit on 31-8-2006 by LazarusTheLong]

Originally posted by jlc163
1. Who the hell runs the friggen countries?

Those that count the votes. Diebold counts the votes and winners distribute the spoils of victory to their powerful friends.

2. Who provides job, those with money or those without?

Let me rip off a few billion dollars and I will benevolently provide you with a job. Id sure be in the market for employees that will cover my butt even when Im wrong.

I said nothing about the individuals that get ground under the big corporation's foot, as they were TOTALLY IRRELEVANT TO MY COMMENT.

You sound like a perfect fit to be employed by "the powers that be", they also find individuals irrelevant.

My hometown econmy is benefitting financially from this war, thank you very much, and I mean the middle class. We're still an oil based economy.

I bet it makes you proud to be an american. How many dead muslims does it take to buy a new house in your town? How many dead muslims does it take to fill up the gas tank of an suv in your corner of americana?

Again, I don't really care.

The problem with america is most americans are just like you, they dont really care. Apparently as long as things are ok in your hometown "the powers that be" can commit whatever atrocities they desire with your tacit approval.

The things you didnt say speak volumes about you.

The problem we have, when defense companies have paid for influence with our leaders, is that WAR is what they buy with that influence...
they dont buy peace man... it aint profitable...

obvious agendas speak volumes to CT'ers

Originally posted by LazarusTheLong


and in regards to war profiteers... here is some info on how some of the legacys started...

The legacys started way before that... back in the bronze age or whatever. Here, the Gatling gun and Colt revolver were some of the first weapons dynastys.

The only thing different today is the technology used.

Is this supposed to be some kind of revelation?

Munition Maker

I am the Cannon King, behold!
I perish on a throne of gold.
With forest far and turret high,
Renowned and rajah-rich am I.
My father was, and his before,
With wealth we owe to war on war;
But let no potentate be proud . . .
There are no pockets in a shroud.

By nature I am mild and kind,
To gentleness and ruth inclined;
And though the pheasants over-run
My woods I will not touch a gun.
Yet while each monster that I forge
Thunders destruction form its gorge.
Death's whisper is, I vow, more loud . . .
There are no pockets in a shroud.

My time is short, my ships at sea
Already seem like ghosts to me;
My millions mock me I am poor
As any beggar at my door.
My vast dominion I resign,
Six feet of earth to claim is mine,
Brooding with shoulders bitter-bowed . . .
There are no pockets in a shroud.

Dear God, let me purge my heart,
And be of heaven's hope a part!
Flinging my fortune's foul increase
To fight for pity, love and peace.
Oh that I could with healing fare,
And pledged to poverty and prayer
Cry high above the cringing crowd:
"Ye fools! Be not Mammon cowed . . .
There are no pockets in a shroud."

--- Robert Service, 1874–1958

Poetry of Robert Service

Originally posted by jsobecky
The legacys started way before that... back in the bronze age or whatever. Here, the Gatling gun and Colt revolver were some of the first weapons dynastys.

The only thing different today is the technology used.

I agree with you but the old money is still there and they have always been behind all the wars. . .

Wars are profitable, very profitable.

Just another conspiracy angle to the debate.