We are told we must accept and adapt to this new reality where a corporation like BMO that recieves huge tax breaks and records record profits will still layoff a thousand workers.
I say hell no, lets create a new reality and make them adapt to that.
hi Kev...I couldn't agree more. When I saw that story I just couldn't believe it. I had to look up the bank's financial situation to see if I was dreaming. And this is what I got from the frigging CBC:
ReplyDeleteOn the face of it, Bank of Montreal’s cutting of nearly 1,000 full-time positions in the fourth quarter of a year in which it made a record profit of $4.2 billion might come off as an unnecessarily cruel move, but some analysts say it's a predictable consequence of improved productivity and a stagnant economy.
Can you believe that crap? It's enough to make one vomit. You know when a rich bank can't even be a good corporate citizen, capitalism really has no future. And you're right. It's time for a new reality....
Hi Simon I read that CBC article before leaving for work It pissed me off so much I had to pull over and write this post on my way into work
ReplyDeleteWhat could "a stagnant economy" even have to do with it? They're either making profit or they aren't. If they are, evidently the "stagnant economy" didn't stop them from doing so.
ReplyDeleteI have nothing really against the BMO laying people off. But if they aren't going to be putting their money into employment, we should be taking a bunch of it away so the public sector can put money into employment instead. I mean, no hard feelings, but if corporations aren't doing anything useful with their money then there's no point letting them keep it; that's the "reality" we ought to be working with.
It's like you read my mind I could live with the tax breaks corps receive if they did create jobs but then they were never meant to do so in the first place, rather to starve government of the ability to do so
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