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(The Intercept)   Law 1 The purpose of the corp is to provide $ to the CEO. All other considerations are secondary and expendable in serve to Law 1. Law 2 Corps engage in any behavior so long as it fulfills the mandate of Law 1. Law 3 Corps only alter behavior if   ( divider line
    More: Facepalm, Interest rate, Monetary policy, Central bank, CEO of Iron Mountain Inc., Joe Biden, Inflation, Corporation, Iron Mountain  
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989 clicks; posted to Business » on 04 Oct 2022 at 6:35 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook

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2022-10-04 6:47:42 PM  
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2022-10-04 7:13:06 PM  
Oh neat! I met that guy years ago and remember thinking 'What a sleazeball...'
2022-10-04 7:48:19 PM  
CEO compensation has LONG been a controversy in business finance.  Of course it's because compensation is not tied to any economic laws but rather to political power.  Even the Harvard Business Review three decades ago was on the issue:

There's much more controversy today because executive compensation has accelerated at an uneconomic rate.
2022-10-04 8:07:34 PM  
His whole business could be negated by a good blockchain solution, and he's going to raise the cost of physical storage. I hope most of any increases go towards paying the employees well enough they don't get any ideas about looking inside the boxes. I can almost guarantee there's more than paperwork in there. Hide the murder weapon and evidence in a bankers box for decades. Use the document service to move cash, store it for laundering. I bet the film showing what really happened to JFK is in there somewhere, labeled as a family birthday party.
2022-10-04 9:44:22 PM  
Corporations have a solution for all the inflation, and that's to import more low wage immigrants.

CEO's agree that this solution is much better than raising wages.

And of course the landlords love the increased housing demand this provides, which has added $3.7 trillion to their wealth.

quod.lib.umich.eduView Full Size
2022-10-05 7:26:27 AM  
"The comment is an unusually candid admission of a dirty secret in the business world: corporations use inflation as a pretext to hike prices."

No why is this not on every newscast and site? Why is this not screamed from the floor of congress?
2022-10-05 8:08:08 PM  
Yep, they can raise prices because there's no competition. Let's break up some of these companies.
2022-10-05 8:59:56 PM  
Iron mountain might find that most fortune 500 companies already have empty warehouses where they can store backups without paying their inflated amounts.

Long ago a corporate charter would have to list tangible benefits to the community to have the corporation created.  Now it is almost like they need to list tangible liability to the community.
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