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Monday, January 23, 2006

Profits before People

As American companies layoff workers and close plants, the reaction from Wall Street is generally a positive one, and the stock rises on speculation of higher profits. This so far has not been the case with the Tribune Company, as the stock hit a new fifty-two week low this morning of $29.55.

Ford Motor Company has announced just a few minutes ago that they will be closing four plants, and their stock should be showing a move in the plus column the next few weeks.

This trend across the country has a large impact on the buying power of the working class, not to mention the effect to union contracts; the union agreements are usually voided.

Are we headed for a two-class system, as we see in third world countries?

Stay Positive,
Eddie

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