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$1.7 billion payout to a failure - it's nice to be part of the ruling class

Discussion in 'Current Events' started by sun rise, Oct 22, 2019.

  1. sun rise

    sun rise "Let there be peace and love among all"
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    Here we have a co-founder of a company that tanked. His reward, $1.7 billion, for being a failure. It must be nice to be part of the ruling class where even failure is rewarded handsomely. Of course, $1.7 billion is a bit exceptional as a reward for failure, but it illustrates how the power of the upper class and gigantic corporations distorts what could and should be laughingly called the "plutocratic enterprise system"

    WeWork rescue 'hands co-founder Adam Neumann $1.7bn payout'
     
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  2. Shadow Wolf

    Shadow Wolf Crazy Diamond

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    As they say, we have Socialism for the rich, and Capitalism for everybody else.
     
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  3. HonestJoe

    HonestJoe Well-Known Member

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    That seems like a slightly dishonest spin. This isn’t a big wage pay out or golden handshake but a result of him selling his shares and he can only make money from that because the people buying them believe the company still has that much value. The company seems to be having problems at the moment but it seems to be some way from actually failing and the new owners must believe they can build it back up or they wouldn’t have invested so much in to it in the first place.
     
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  4. Howard Is

    Howard Is Lucky Mud

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    So he was cashed up enough to spend a lazy billion or so when he was hired ?

    Anyway, the Japanese are happy with his work.
     
  5. HonestJoe

    HonestJoe Well-Known Member

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    I've no idea what you mean. He was a co-founder so was never hired and presumably owned the shares because he would have once part-owned the entire company. Seriously, just read the article rather than the OP spin, it seems to be a relatively straight-forwards situation.
     
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