You have probably heard of the Sarbaines Oxley Law (SOX) on corporate governance to make corporations totally transparent. And the voters and investors wanted this law so they could know which companies to invest in so they could make 20% per year on their money, which they damn well feel entitled to. The issues is that those corporations abroad do not have to follow those laws and therefore are able to scan and study all that financial data to beat American Companies in the market place.
Then the foreign companies can know where the best markets are, which sectors are most profitable and where the American companies are expanding; both market segments and sectors. It would be like inviting your opposing football team into your locker room and opening up the playbook for them, offering them some tea during halftime and before the game, but only for three hours.
A recent good example of this is Honda and Toyota, kicking General Motors butts. General Motors admits they cannot compete and each time the Japanese attack with a typhoon into their most profitable markets; GM has to readjust its strategy. But not before telling the world and the competition what that strategy is; 28,000 employees will be losing their jobs since GM can no longer run redline anymore under the SOX rules.
At Davos; Carly Fiorina former CEO of Hewlett Packard discussed the new boardroom where they spent two-thirds of the time talking to their lawyers and accountants and only one-third on strategic planning. Often making business decisions based on rules and over regulation than what was best for the company and consumer. SOX has done more to harm America and American Consumers and employees than any other single factor of any time period in our nations history; including 9-11.
Well Senator Sarbaines will not be running for re-election, but will keep his pension, while 28,000 autoworkers will hit the unemployment lines. And as for GM’s under funded pensions? Hey, I wouldn’t count on it. Thanks for nothing you worthless politicians. You sold us out to foreign competitors and stifled our innovative spirit and you won’t even admit you made a mistake? My god what kind of a human would do that to the country that gave them so much. Think about it.
“Lance Winslow” – If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs