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Re: What are wall street scumbags good for? 

By: DGpeddler in POPE | Recommend this post (1)
Tue, 29 May 12 5:13 AM | 50 view(s)
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Msg. 59290 of 65535
(This msg. is a reply to 59281 by ribit)

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Yes ribit. When I worked in Atlanta a note from the main office came out saying that there were 75,000 workers and 75,000 management. They were getting rid of workers but not management. When they sold the company to SBC, they had 3,000 workers and 40,000 management. For some reason those 3,000 workers could not earn enough profit to pay for 40,000 supervisors and their own pay. Does that surprise anyone other than AT&T management?




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The above is a reply to the following message:
Re: What are wall street scumbags good for?
By: ribit
in POPE
Tue, 29 May 12 4:00 AM
Msg. 59281 of 65535

dgp
...at&t was never set up to operate a business. It was set up to operate monopolies over various political boundaries (state lines usually). Competence was not considered important.

...the operating companies would buy tools such as a pair of diagonal pliars that could be bought anywhere else for five bucks but they would buy them from Western Electric for Twenty or so bucks. That is one of the ways that money was moved from the operating companies to the owner company.

...when they found themselves in a position where they had to actually compete with other companies based on the quality and or the price of their product, they were unable to do so, and no one in management knew why. They were doing the same things they had done when all they had to do for a price increase was to go before the public service commission to competition. Nothing worked and the people in charge had ego's that would not allow them to admit their lack of knowledge or ask for help.


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