Progressive Politics

961 readers

201 users here now

Welcome to Progressive Politics! A place for news updates and political discussion from a left perspective. Conservatives and centrists are welcome just try and keep it civil :)

(Sidebar still a work in progress post recommendations if you have them such as reading lists)

founded 1 year ago

MODERATORS

TokenBoomer

After Gorging on Stock Buybacks for Years, Boeing Announces Mass Layoffs (www.commondreams.org)

submitted 5 days ago by TokenBoomer to c/progressivepolitics

4 comments fedilink hide all child comments

"The corporate cure is always the same—lay off workers," said one critic. "Stock buybacks and layoffs are joined at the hip. It's time they were outlawed entirely."

top 4 comments

sorted by: hot top controversial new old

[–] [email protected] 16 points 5 days ago (1 children)

They were illegal till 1982 (thanks to FDR) then like a lot of shit Regan ruined it and said they were exempt.

As always fuck you Reagan

[–] [email protected] 9 points 4 days ago (1 children)

The 1980s is when the baby boomers discovered the stockmarket but hadn't learned from the 1920s why some forms of regulation exist and then they just continued that mentality right up to the present.

[–] stoly 2 points 4 days ago

The last baby boomer turned 21 in 1985 so that tracks.

[–] [email protected] 7 points 4 days ago

Boeing, which is currently facing a machinist strike, spent an estimated $68 billion on executive-enriching share repurchases and dividends between 2010 and 2019—spending that critics say refutes the company's claim that layoffs and inadequate worker compensation are necessary.

We can't afford to pay our workers a living wage because we're greedy.