Unplugged
Well-Known Member
I strongly feel that the Wall Street system cannot be fixed, It must be gotten rid of. I know saying that gets you labeled a Communist among some circles but that is what I feel. The constant growth/ROI/Cash-Hoarding system just is not sustainable long-term.
I agree with you. There are a lot of reasons many big companies are buying back their stock at volumes in the billions of $'s to remove it from the market. Tech companies like IBM and Dell have been doing it a lot lately and in fact, last I read, Dell is going private again. Once a big corporation is off the streets, they have so much more control in that they cannot be penalized for decisions by outside markets, but simply by unhappy customers. This should be the genuine ultimate driver, customer satisfaction. Right now, most major companies are driven not by the customer but by performance criteria set by Wall Street.
I can't tell you how many times my company has not just performed up to their announced revenue targets, but surpassed them, only to be devalued on Wall Street because the company didn't perform to their estimates. That's the most ridiculous thing ever.