Profits At Largest 500 Corporations Grew By 81 Percent In 2010

[Capt Bringdown]

The 2011 Fortune 500 list was unveiled today, surveying the growth and profits of the nation’s largest 500 corporations. (http://thinkprogress.org/2011/05/05/fortune-500-corporations-81/)

All told, the Fortune 500 generated nearly $10.8 trillion in total revenues last year, up 10.5%. Total profits soared 81%. But guess who didn’t benefit much from this giant wave of cash? Millions of U.S. workers stuck mired in a stagnant job market. [...] Nevertheless, we’ve rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans.

At the same time, corporate tax revenue as a percentage of GDP is lower than it has been in years, meaning that not only is the wealth not trickling down, but that these big firms are also becoming less and less likely to pay their fair share.

[rascal]

The fat cats on top are getting fatter.
They don't even want to pay fair wages. Back in the 1950s, 1960s a guy could buy a house on a factory workers salary and support his wife who could stay at home with the kids.

[Wild Cobra]

Aren't you guys tired of having your panties in a wad? So what. Corporations gained back some revenues they lost over the years. So will the people if the government stops making it so hard to have productive jobs here.

[CubanMustGo]

It's all about feeding the C-level guys and the mega-stockholders. Fuck the people who actually make those profits possible.

[Viva Las Espuelas]

Hmm. Fannie Mae, Freddie Mac, GE, NBC, General Motors, Chrysler.......
Damn. The government is doing pretty damn good :tu


Nothing to see here. Move along.

[greyforest]

Aren't you guys tired of having your panties in a wad? So what. Corporations gained back some revenues they lost over the years. So will the people if the government stops making it so hard to have productive jobs here.


http://gregonpolitics.files.wordpress.com/2010/12/share-of-wealth-held-by-the-bottom-99-and-top-1-in-the-united-states-1922-2007.jpg

[Wild Cobra]

http://gregonpolitics.files.wordpress.com/2010/12/share-of-wealth-held-by-the-bottom-99-and-top-1-in-the-united-states-1922-2007.jpg
So you're jeolous. Instead of striving to be rich, or accept it can happen, you want to talk down and destroy others.

Fuck You you communist scumbag!

[ChumpDumper]

lol

[Warlord23]

So you're jeolous. Instead of striving to be rich, or accept it can happen, you want to talk down and destroy others.

Fuck You you communist scumbag!

5-star post. Will recommend it as sig-worthy.

[Stringer_Bell]

This is great news! We've been hearing for years that the economy is in a rut, but these companies prove that it's possible to overcome the odds. Not only that, the consumers they serve also profit because it means their needs are being met.

Who said Obama was bad for business? 81% jump in profits ftw!

Oh my bad, I give credit to Bush tbh. He fucked up the gameboard so bad that a massive profit jump was inevitable when shit started getting back to normal. Thanks GW!

communist scumbags :lmao

[ElNono]

I concur... I assume that from here on out we'll stop hearing any kind of bitching on how Obama's economy is a failure...

[Capt Bringdown]

Another tax cut is in order, jobs just aren't trickling down yet.

[greyforest]

So you're jeolous. Instead of striving to be rich,
Aren't the people striving to be rich the "jeolous" ones?


you want to talk down and destroy others.

Fuck You you communist scumbag!
ROFL

I'm pointing out that corporate profit does not correlate with the income or welfare of the general populous, as the original post CLEARLY illustrates.

Reagan's "trickle-down" theory would entail that the top 1% wouldn't accumulate MORE of the wealth, right? Since the top 1% gets MORE of the wealth, wealth is in fact trickling UP! Is your mind blown?

[TDMVPDPOY]

10t in revenue, how much of that goes to taxes in america and not horded into tax minimization schemes....where it comes down to 10% or lower....

[mingus]

So you're jeolous. Instead of striving to be rich, or accept it can happen, you want to talk down and destroy others.

Fuck You you communist scumbag!

it's got nothing to do with that. i'm rich as hell and i disagree with everything you're saying.

[Winehole23]

I concur... I assume that from here on out we'll stop hearing any kind of bitching on how Obama's economy is a failure...Its future success is not a foregone conclusion either.

Me personally, I'm still braced for something even worse to happen. Not that Obama will necessarily be at fault for that. Unfortunately for Mr Obama (in this he resembles all his predecessors), being technically blameless qua Presdient will in no way prevent him from being conveniently blamed/praised for whatever horrible/great thing happens next.

[Marcus Bryant]

Its future success is not a foregone conclusion either.

Me personally, I'm still braced for something even worse to happen. Not that Obama will necessarily be at fault for that. Unfortunately for Mr Obama (in this he resembles all his predecessors), being technically blameless qua Presdient will in no way prevent him from being conveniently blamed/praised for whatever horrible/great thing happens next.

Such is the nature of our binary politics.

[DarrinS]

Great news for employees of those companies and for people who have stock/401k investments in those companies.

[boutons_deux]

"Great news for employees of those companies"

give the link where the employees of those companies got any raises in line with the companies' increased profits.

CEO Bonuses Rose By Nearly 20% In 2010, While Average Worker Saw Income Stagnate

For the surveyed CEOs, the sharpest pay gains came via bonuses, which soared 19.7% as profits recovered, especially in some hard-hit industries. … Net income rose by a median of 17%; shareholders at those companies enjoyed a median return, including dividends, of 18%.

Median household income has fallen nearly 5% over the past decade and in 2010 was $50,221. The lack of wage growth has made it difficult for average Americans to keep up with rising prices on everything from gas to food.

http://thinkprogress.org/2011/05/09/ceo-pay-350-companies/

that "past decade" above was driven by VRWC policies of cutting taxes on corps and wealth, screwing employees and unions, and driving up the national debt with bogus/botched wars. Employment growth was the lowest since WWII.

UCA's motto is "Greatest Good For the Smallest Number"

[Wild Cobra]

Great news for employees of those companies and for people who have stock/401k investments in those companies.
No shit, but the "have-nots" want to sink those who have risen above them instead of attempting to rise themselves.

Typical liberal lowest common denominator thinking.

[Trainwreck2100]

Great news for employees of those companies and for people who have stock/401k investments in those companies.

Really cause I'm an employee of one of those companies and we still have restricted raises (2%), and 2 weeks ago they eliminated the position i was to be promoted to.

[Wild Cobra]

Really cause I'm an employee of one of those companies and we still have restricted raises (2%), and 2 weeks ago they eliminated the position i was to be promoted to.
That's probably due to the extra mandated health care insurance costs. It's cheaper to work people overtime than hire new people.

[DarrinS]

Really cause I'm an employee of one of those companies and we still have restricted raises (2%), and 2 weeks ago they eliminated the position i was to be promoted to.

I can guarantee you they won't give out raises or create new positions if they are NOT growing.

[Wild Cobra]

I can guarantee you they won't give out raises or create new positions if they are NOT growing.
LOL...

No shit!

[Spurminator]

But they will sometimes eliminate positions and require people to work longer hours even if they are growing.

[DarrinS]

But they will sometimes eliminate positions and require people to work longer hours even if they are growing.


Sometimes.

[boutons_deux]

"I can guarantee you they won't give out raises or create new positions if they are NOT growing."

And you cannot gurantee that they will give out raises or create new position if they ARE growing. In fact, the entire VRWC strategy of busting unions is to suppress salaries and benefits, and make current employees work more for same or less. In this current labor-busted market, employees are intimidated into getting shafted into more work for same pay, or taking new jobs with much lower pay.

Productivity has been exploding, employees' boats have not, as the VRWC always intended, been floating up. Same strategy as trickle down. Cut taxes for the wealthy, and everybody benefits. bullshit

[DarrinS]

And you cannot gurantee that they will give out raises or create new position if they ARE growing.


That's right. If you want a guarantee, go work for the state and bill your fellow citizens for your guaranteed health care, pension, etc.

[Wild Cobra]

But they will sometimes eliminate positions and require people to work longer hours even if they are growing.
No shit. I'm working 50+ hr weeks.

It's OK to eliminate unfilled positions. That is meaningless. They can make a new position any time. It's not necessarily permanent. It just keeps HR from having extra checks o see if they should fill a position or not.

[Wild Cobra]

"I can guarantee you they won't give out raises or create new positions if they are NOT growing."

And you cannot gurantee that they will give out raises or create new position if they ARE growing. In fact, the entire VRWC strategy of busting unions is to suppress salaries and benefits, and make current employees work more for same or less. In this current labor-busted market, employees are intimidated into getting shafted into more work for same pay, or taking new jobs with much lower pay.

Productivity has been exploding, employees' boats have not, as the VRWC always intended, been floating up. Same strategy as trickle down. Cut taxes for the wealthy, and everybody benefits. bullshit
You clearly miss the point Mr. Entitled.

[Wild Cobra]

That's right. If you want a guarantee, go work for the state and bill your fellow citizens for your guaranteed health care, pension, etc.
Need money...

Get Tax Payers!

I looked for that funny spoof, but couldn't find it.

[Spurminator]

No shit. I'm working 50+ hr weeks.

It's OK to eliminate unfilled positions. That is meaningless. They can make a new position any time. It's not necessarily permanent. It just keeps HR from having extra checks o see if they should fill a position or not.

And as long as you'll work how ever many hours it takes for you to keep your job, they'll never fill it.

You do 50 hour weeks? We need you to work 60 now. Here's a 3% raise.

Hey, champ, you're doing swell, we're going to give you more responsibility and a promotion with a 5% raise. Also, we're eliminating your peer that also handled your role, you'll be doing their job too. 70 hour weeks.

It's a race to get workers working as many hours as possible, for as little salary as possible, with fewer competing companies for them to go to when they hate their jobs.

[Wild Cobra]

And as long as you'll work how ever many hours it takes for you to keep your job, they'll never fill it.

I have a choice. I am either on the overtime list or not. I choose to be on it.


You do 50 hour weeks? We need you to work 60 now. Here's a 3% raise.

No, they are careful not to over work us.


Hey, champ, you're doing swell, we're going to give you more responsibility and a promotion with a 5% raise. Also, we're eliminating your peer that also handled your role, you'll be doing their job too. 70 hour weeks.

What else do you fantasize about?


It's a race to get workers working as many hours as possible, for as little salary as possible, with fewer competing companies for them to go to when they hate their jobs.

I don't know where you are dreaming up such shit from, but most work places know better than stressing their employees that much.

[Mikesatx]

It is easy to manipulate numbers to get to whatever point you want. Up 81% in 2010 what were the numbers in 2008 and 2009? If your 100k portfolio was down 55% you would have 45k. If the following year your portfolio was up 81% you would have $81,450. If its your money are you up 81% or still down almost 20%?

The other point not mentioned is that jobs have started to come back in the private sector this year. Companies haven't known what the tax environment would be until the end of last year. They still don't know what the new health legislation will translate to.

Individuals are doing the same things companies are doing. Cutting back and deleveraging.

[Wild Cobra]

That's exactly right Mike. You have to remember the mentality of those like Capt Bringdown and Boutons. They are fanatical liberal. However, they forgot the first rule of the fanatic:

when you become obsessed with the enemy, you become the enemy.