via Common Dreams I by Kenny Stancil I December 17, 2020

‘Sick’: Most Profitable US Companies Fired Workers, Enriched Shareholders During Pandemic

“…An in-depth investigation published Wednesday by the Washington Post illuminates how “big businesses are having a very different year from most of the country,” which is suffering as a result of the federal government’s negligent response to the ongoing public health catastrophe and inadequate provision of financial assistance to working-class households.

“This is a global crisis but the big companies are not treating it as one—they haven’t skipped a beat,” said William Lazonick, an emeritus economics professor at the University of Massachusetts at Lowell.

The Post shared examples of the “surprisingly upbeat” outlook shared by executives at some of America’s largest corporations: “I don’t think we’ve ever been more excited or energized about our prospects,” PayPal finance chief John Rainey said on a November conference call. “These are times when the strong can get stronger,” Nike chief John Donahoe told analysts in September…”

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