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With all the talk about the state of our economy, Obama being more of a socialist-type leader and the out-of-control bailouts, one wonders what is the idea of capitalism that this country was built on.
Wikipedia defines capitalism as,”Capitalism is an economic system and a form of society, in which resources are controlled by private power, as opposed to a state or public institution.” (to read the rest…)
If we are to survive as a capitalist country and continue what our fore fathers started two hundred and thirty two years ago, we must stop saving companies that are not doing the right thing to make it in the market.
The government should have never started with all this financial assistance to save companies that have been doing the wrong thing to make money. Things that could be considered morally wrong and legally questionable at best. If a board of directors want to give millions of dollars to a man that makes decisions that will eventually cause the company to lose billions of dollars, well then they get what they ask for, bankruptcy.
The big three automakers are another set of companies that should face the music like all other smaller companies must face if they don’t do the right thing to preserve their future. Chrysler became a privately held company about a year ago. The company choose Bob (corporate raider) Nardelli to be the CEO. If you guys are not familiar with Mr. Nardelli let me give you some first hand insight.
In the six years that Nardelli was the CEO of The Home Depot he removed more associates from the floor as well as eliminating many of the employee benefits. In effect of his decisions he ruined the customer service that The Home Depot was known for and help them stand out amongst the competition. How do I know this? I worked for The Home Depot before he got there and was there after he left. As a matter of fact, they fired him to get rid of him knowing that they would still have to give him $209 million departing package.
Let’s get back to capitalism. If this is the way the government is going to start defining the meaning of the word, well then I suggest that if you have a company the isn’t making the money that it needs to make payroll and pay your suppliers, go to Washington and ask for a bailout.
I don’t know about you, but I go into business to make money and I have only two choices… to either make it or break it and if I break it, it’s my problem not anyone else’s.

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