How far will e b @ y and their Exec's go to protect their bottom line and bonus'? Watch 60 minutes tonight! 2 2

[MAR1979]

What they will show is simply only what they have so far been able to uncover.

Edited March 26, 2023 by MAR1979

[Axelrod]

I have no idea what this story is about, but your headline just made me think of this quote, which is so very true.

“it is difficult to get a man to understand something, when his salary depends on his not understanding it.” - Upton Sinclair.

[Gaard]

I don't get it.

[ADAMANTIUM]

On 3/26/2023 at 6:11 PM, Gaard said:

I don't get it.

Read the last page of this thread, or watch sixty minutes? I actually have no idea but can guess given these details...

 

 

[Axelrod]

So, not so much about protecting their bottom line as basically, just some ******* executives getting vengeful on some people after a bit of criticism.

It does make the point that the guys at the top are often very insulated from the consequences of their "directives."  They say "do something" and then they don't necessarily know or care how it actually gets done and thus keep their deniability for later on.  

And people will do incredibly ***** things in the name of their jobs.  

[MAR1979]

Fact: Percentage of Senior Executives in Mid-Large-Huge Corporation that are Sociopaths far exceeds rest of the population.

Much published over the past few decades but start here:

https://www.forbes.com/sites/stephaniesarkis/2019/10/27/senior-executives-are-more-likely-to-be-psychopaths/?sh=42ab8fa247c4

https://fortune.com/2021/06/06/corporate-psychopaths-business-leadership-csr/

Edited March 27, 2023 by MAR1979

[theCapraAegagrus]

It's why I don't buy/sell on eBay often anymore.

[ThothAmon]

Didn’t watch it as it was really old news unless they did it twice?  I’ve bought and sold on eBay since 1997 or so and also am a shareholder. Notwithstanding that the stock price is half of what it was a year ago, it’s still a convenient place to sell my slabs. Although I’ve noticed far less traffic. I make up for any losses with volume. Imho eBay cut its own throat when it firewalled its users from contacting each other. Probably would have been Facebook if they let their “community” commune. 

[Stefan_W]

On 3/27/2023 at 9:00 AM, ThothAmon said:

Didn’t watch it as it was really old news unless they did it twice?  I’ve bought and sold on eBay since 1997 or so and also am a shareholder. Notwithstanding that the stock price is half of what it was a year ago, it’s still a convenient place to sell my slabs. Although I’ve noticed far less traffic. I make up for any losses with volume. Imho eBay cut its own throat when it firewalled its users from contacting each other. Probably would have been Facebook if they let their “community” commune. 

Their business model depends on fees, and people contact each other to cut out the middle man and avoid fees, so I guess that part was inevitable. Becoming FB means having different revenue streams that are outside of fees and I guess that was a bridge too far compared to their established sales model. 

I always post a bunch of comics in the New Year and stop selling when I hit a certain point in sales, and yeah I also notice far less traffic even from a year ago. There are also far fewer terrible offers so I guess it is not all bad  

[Tec-Tac-Toe]

The few comic books, approximately five (without checking), that I have bid on in the last year, give or take, have sold for much more than I was willing to pay. Up to three years ago I likely typically bid on or purchased five comic books in ten minutes and would win a great many of those I bid on, most at very good prices. Those days appear to be gone.

[nochips]

All they care about is fees and getting more money from the sellers. 

[Dr. Balls]

Senior executives, and the sheer amount of them on corporate payroll is the slow death of Capitalism.

[shadroch]

It's almost as if those execs think they should make a profit or something. 

[MAR1979]

IMHO no difference between a Senior Exec at large corps and racketeers. 

BTW Ive worked back office in Fortune 20 corps nearly my entire career. The evil that execs do hold no bounds. They are nearly as vile as politicians. Yet still not as bad as Comic dealers ;)

Edited March 27, 2023 by MAR1979

[WolverineX]

On 3/26/2023 at 9:45 PM, MAR1979 said:

Fact: Percentage of Senior Executives in Mid-Large-Huge Corporation that are Sociopaths far exceeds rest of the population.

Much published over the past few decades but start here:

https://www.forbes.com/sites/stephaniesarkis/2019/10/27/senior-executives-are-more-likely-to-be-psychopaths/?sh=42ab8fa247c4

https://fortune.com/2021/06/06/corporate-psychopaths-business-leadership-csr/

Not surprising.  Who does capitalism reward?  

[shadroch]

Capitalism is its own reward.

[workingdog]

I watched the segment.  I feel bad for that couple.  And while I like Sharon Alfonosi, I think eBay would have suffered much more flesh wounds if Lesley Stahl had done the piece.  She doesn't hesitate to go for the jugular.

[Dr. Balls]

On 3/27/2023 at 8:46 AM, shadroch said:

It's almost as if those execs think they should make a profit or something. 

https://www.cbsnews.com/news/ceo-pay-in-940-more-than-40-years-ago-workers-make-12-more/

I am all for capitalism, but I will drop that link to every single person on this planet that have the misguided notion that corporate executives somehow "earn" their living through intelligence, ambition, knowledge or skills other than understanding how to screw over people with a straight face. They are a cancer on capitalism.

Creating shortcuts, cutting corners on quality, shirking responsibility, eroding the brand identity, providing lesser services while giving yourself raises and bonuses is not about profit, it's about colossal-sized ineptitude masquerading as "skillful business practice". In no way, shape or form do the companies I purchase product from on a weekly basis perform better, provide better service or a higher quality product than they have given me years prior - except it now costs a whole lot more. This is beyond inflation or "making profits", it's fleecing the average joe pennies at a time. 

For all of Ebay's fees, am I getting better service? No. Am I getting a better experience? No. Am I getting higher sales because they are driving more people to their platform? No.. Am I being rewarded for buying or selling in some sort of loyalty program? No. So why does Ebay profits continue to go up - while providing less for the fees they charge - and my profits go down? Because they have too much top end executive BS to pay for, and while the world adjusts to inflation, driving down expendable income, they demand that their pay go up. And they do that with fees, fees and more fees. Yeah, yeah, don't like it, don't use it - but when everyone is doing this, it exposes the problem that I spoke about: Senior executives, and the sheer amount of them on corporate payroll is the slow death of Capitalism.

I don't have the luxury of arbitrarily raising prices and a customer base large enough that they will simply pay whatever I charge. That's just the way it goes, but not for corporations - if they have to sustain $500M of executive payroll, you can bet that last dollar in your wallet you'll be paying for that sustainability before one of those people takes a paycut due to bad performance, slow sales or downsizing. I love this country, I love capitalism. I love money. I live the American Dream, and to me, the biggest threat to that is not whacko politicians but corporations creating their own Broken Window policies that continue to encourage the slow death of what the country is built on. 

[Dr. Balls]

On 3/27/2023 at 9:38 AM, shadroch said:

Capitalism is its own reward.

100% agree. Living life in America is a reward in itself, owing it in large part to Capitalism. I love this place, I hate to see it ruined.

[shadroch]

On 3/27/2023 at 9:48 AM, Dr. Balls said:

https://www.cbsnews.com/news/ceo-pay-in-940-more-than-40-years-ago-workers-make-12-more/

I am all for capitalism, but I will drop that link to every single person on this planet that have the misguided notion that corporate executives somehow "earn" their living through intelligence, ambition, knowledge or skills other than understanding how to screw over people with a straight face. They are a cancer on capitalism.

Creating shortcuts, cutting corners on quality, shirking responsibility, eroding the brand identity, providing lesser services while giving yourself raises and bonuses is not about profit, it's about colossal-sized ineptitude masquerading as "skillful business practice". In no way, shape or form do the companies I purchase product from on a weekly basis perform better, provide better service or a higher quality product than they have given me years prior - except it now costs a whole lot more. This is beyond inflation or "making profits", it's fleecing the average joe pennies at a time. 

For all of Ebay's fees, am I getting better service? No. Am I getting a better experience? No. Am I getting higher sales because they are driving more people to their platform? No.. Am I being rewarded for buying or selling in some sort of loyalty program? No. So why does Ebay profits continue to go up - while providing less for the fees they charge - and my profits go down? Because they have too much top end executive BS to pay for, and while the world adjusts to inflation, driving down expendable income, they demand that their pay go up. And they do that with fees, fees and more fees. Yeah, yeah, don't like it, don't use it - but when everyone is doing this, it exposes the problem that I spoke about: Senior executives, and the sheer amount of them on corporate payroll is the slow death of Capitalism.

I don't have the luxury of arbitrarily raising prices and a customer base large enough that they will simply pay whatever I charge. That's just the way it goes, but not for corporations - if they have to sustain $500M of executive payroll, you can bet that last dollar in your wallet you'll be paying for that sustainability before one of those people takes a paycut due to bad performance, slow sales or downsizing. I love this country, I love capitalism. I love money. I live the American Dream, and to me, the biggest threat to that is not whacko politicians but corporations creating their own Broken Window policies that continue to encourage the slow death of what the country is built on. 

Does the company and its directors take care of their customers or its shareholders.   If the stock is doing well and producing steady dividends, most shareholders will be happy. Sell your place, put your money to work and focus on what really matters. I wish I'd done it sooner.