CEOs Say Corporations Need To Change The Rules Of Capitalism | Velshi & Ruhle | MSNBC

CEOs Say Corporations Need To Change The Rules Of Capitalism | Velshi & Ruhle | MSNBC


>>>THIS MORNING SOME OF THE>>>THIS MORNING SOME OF THE MOST POWERFUL CEOs IN THE WORLD MOST POWERFUL CEOs IN THE WORLD INCLUDING HEADS OF APPLE, INCLUDING HEADS OF APPLE, AMAZON, PEPSI, AND WALMART ARE AMAZON, PEPSI, AND WALMART ARE TALKING ABOUT CHANGING THE RULES TALKING ABOUT CHANGING THE RULES OF CAPITALISM. OF CAPITALISM. THE BUSINESS ROUND TABLE A GROUP THE BUSINESS ROUND TABLE A GROUP OF NEARLY 200 CEOs FROM MAJOR OF NEARLY 200 CEOs FROM MAJOR U.S. CORPORATIONS ISSUING A U.S. CORPORATIONS ISSUING A STATEMENT YESTERDAY SAYING THAT STATEMENT YESTERDAY SAYING THAT THE PURPOSE OF A CORPORATION IS THE PURPOSE OF A CORPORATION IS LONGER TO SERVE SHAREHOLDERS IN LONGER TO SERVE SHAREHOLDERS IN THE COMPANY’S BOTTOM LINE THE THE COMPANY’S BOTTOM LINE THE NEW FOCUS THIS, INVESTING IN NEW FOCUS THIS, INVESTING IN EMPLOYEES, DEALING ETHICALLY EMPLOYEES, DEALING ETHICALLY WITH SUPPLIERS AND SUPPORTING WITH SUPPLIERS AND SUPPORTING THE COMMUNITIES IN WHICH THEY THE COMMUNITIES IN WHICH THEY WORK. WORK. SOUNDS GOOD. SOUNDS GOOD. BUT IS IT FOR REAL. BUT IS IT FOR REAL. CHRISTOPHER LEONARD AND DAN CHRISTOPHER LEONARD AND DAN NATHAN AND A DEAR OLD FRIEND OF NATHAN AND A DEAR OLD FRIEND OF MINE, CHAIRMAN OF RIDHOLD WEALTH MINE, CHAIRMAN OF RIDHOLD WEALTH MANAGEMENT. MANAGEMENT. BARRY, TO YOU FIRST. BARRY, TO YOU FIRST. THIS ALL SOUNDS REALLY GOOD. THIS ALL SOUNDS REALLY GOOD. CAN CEOs ACTUALLY CHANGE THE CAN CEOs ACTUALLY CHANGE THE RULES? RULES? JP DIMON IS A FIDUCIARY EAR. JP DIMON IS A FIDUCIARY EAR.>>YOU HAVE TO THINK LONG TERM>>YOU HAVE TO THINK LONG TERM OR SHORT-TERM GOALS. OR SHORT-TERM GOALS. AND LET ME GIVE KUDOS TO JAMIE AND LET ME GIVE KUDOS TO JAMIE AS CHAIRMAN OF THE ROUNDTABLE. AS CHAIRMAN OF THE ROUNDTABLE. IT’S NOT EASY TO MOVE A BATTLE IT’S NOT EASY TO MOVE A BATTLE SHIP LIKE THAT. SHIP LIKE THAT. THEY’RE VERY SLOW TO MAKE THEY’RE VERY SLOW TO MAKE CHANGES. CHANGES. THIS IS HALF A CENTURY OF THIS IS HALF A CENTURY OF ADHERENCE TO AN ESOTERIC BELIEF ADHERENCE TO AN ESOTERIC BELIEF SYSTEM. SYSTEM. THE ONLY THING THAT MATTERS IS THE ONLY THING THAT MATTERS IS PROFITS. PROFITS. WHEN YOU THINK ABOUT EMPLOYEES, WHEN YOU THINK ABOUT EMPLOYEES, CUSTOMERS, WHEN YOU THINK ABOUT CUSTOMERS, WHEN YOU THINK ABOUT THE COMMUNITY YOU WORK IN, IF THE COMMUNITY YOU WORK IN, IF YOU MAKE THE FOLKS REALIZE THAT YOU MAKE THE FOLKS REALIZE THAT YOU’RE A POSITIVE FORCE, THAT’S YOU’RE A POSITIVE FORCE, THAT’S GOING TO END UP WORKING IN YOUR GOING TO END UP WORKING IN YOUR FAVOR IN THE LONG RUN. FAVOR IN THE LONG RUN. THE FOCUS ON JUST NEXT QUARTER’S THE FOCUS ON JUST NEXT QUARTER’S EARNINGS, THAT’S A VERY EARNINGS, THAT’S A VERY SHORT-TERM BELIEF SYSTEM, WHICH SHORT-TERM BELIEF SYSTEM, WHICH UNFORTUNATELY HAS DOMINATED UNFORTUNATELY HAS DOMINATED CORPORATE AMERICA. CORPORATE AMERICA.>>SO YOU’RE BACKING THIS AND>>SO YOU’RE BACKING THIS AND BELIEVING IT IN A BIG WAY? BELIEVING IT IN A BIG WAY?>>WELL, NO.>>WELL, NO. LET’S BE CLEAR, I CAN’T HEAR LET’S BE CLEAR, I CAN’T HEAR WHAT THEY ARE SAYING. WHAT THEY ARE SAYING. THEY ARE SPEAKING SO LOUD. THEY ARE SPEAKING SO LOUD. LOOK AT SOME OF THE SIGNATORIES LOOK AT SOME OF THE SIGNATORIES TO THIS. TO THIS. WHO IS BETTER AT TAX AVOIDANCE WHO IS BETTER AT TAX AVOIDANCE THAN APPLE AND AMAZON. THAN APPLE AND AMAZON. THEY SIGNED ON. THEY SIGNED ON. RATHER THAN WAVING A FLAG, HOW RATHER THAN WAVING A FLAG, HOW ABOUT YOU PAY YOUR TAXES? ABOUT YOU PAY YOUR TAXES? I COULD GO THROUGH JUST ABOUT I COULD GO THROUGH JUST ABOUT EVERY ONE OF THE SIGNATURES AND EVERY ONE OF THE SIGNATURES AND TELL YOU WHAT THEY HAVE DONE TELL YOU WHAT THEY HAVE DONE WRONG THE PAST 30 YEARS. WRONG THE PAST 30 YEARS.>>CHRISTOPHER, THIS SOUNDS>>CHRISTOPHER, THIS SOUNDS REALLY GOOD. REALLY GOOD. TO BARRY’S POINT, THEY HAVE A TO BARRY’S POINT, THEY HAVE A BAD TRACK RECORD. BAD TRACK RECORD. ARE YOU BUYING THIS? ARE YOU BUYING THIS?>>OKAY.>>OKAY. RHETORICALLY THIS IS RHETORICALLY THIS IS SIGNIFICANT. SIGNIFICANT. THIS WOULD BE A CHANGE IN THE THIS WOULD BE A CHANGE IN THE CORPORATE THEORY WE HAVE BEEN CORPORATE THEORY WE HAVE BEEN RUNNING UNDER SINCE THE 1970s. RUNNING UNDER SINCE THE 1970s. THERE IS AN IMPORTANT PART THERE IS AN IMPORTANT PART MISSING WHICH IS PUBLIC POLICY MISSING WHICH IS PUBLIC POLICY AND WHAT THE FEDERAL GOVERNMENT AND WHAT THE FEDERAL GOVERNMENT DOES. DOES. THE BUSINESS ROUNDTABLE WAS THE BUSINESS ROUNDTABLE WAS FORMED IN 1972 WITH A SPECIFIC FORMED IN 1972 WITH A SPECIFIC GOAL OF LOBBYING AGAINST THE GOAL OF LOBBYING AGAINST THE REGULATORY STRUCTURE OF THE REGULATORY STRUCTURE OF THE TIME, WHICH WAS CALLED THE NEW TIME, WHICH WAS CALLED THE NEW DEAL. DEAL. THE NEW DEAL BROKE UP THE NEW DEAL BROKE UP MONOPOLIES, EMPOWERED LABOR MONOPOLIES, EMPOWERED LABOR UNIONS, REGULATED WALL STREET. UNIONS, REGULATED WALL STREET. AND THE BUSINESS ROUNDTABLE HAS AND THE BUSINESS ROUNDTABLE HAS BEEN LOBBYING AGAINST THAT FOR BEEN LOBBYING AGAINST THAT FOR DECADES. DECADES. SO AS MUCH AS THEY MIGHT CHANGE SO AS MUCH AS THEY MIGHT CHANGE THE RHETORIC AND THE LANGUAGE, THE RHETORIC AND THE LANGUAGE, THAT IS IMPORTANT. THAT IS IMPORTANT. BUT WHAT YOU ALSO HAVE TO LOOK BUT WHAT YOU ALSO HAVE TO LOOK AT IS THE POLITICAL CONTEXT IN AT IS THE POLITICAL CONTEXT IN WHICH THESE COMPANIES ARE GOING WHICH THESE COMPANIES ARE GOING TO BE OPERATING. TO BE OPERATING.>>OKAY.>>OKAY. SO, DAN, IF THESE COMPANIES SO, DAN, IF THESE COMPANIES DON’T WANT REGULATIONS PUT IN DON’T WANT REGULATIONS PUT IN PLACE THAT WOULD FORCE THIS NEW PLACE THAT WOULD FORCE THIS NEW ETHOS INTO PLACE, IF IT’S JUST ETHOS INTO PLACE, IF IT’S JUST ABOUT GUIDELINES, WHY WOULD WE ABOUT GUIDELINES, WHY WOULD WE BELIEVE THESE GUIDELINES WERE A BELIEVE THESE GUIDELINES WERE A COMMITMENT IF THE MARKET TURNS? COMMITMENT IF THE MARKET TURNS?>>HERE’S THE THING.>>HERE’S THE THING. THIS IS IN SOME WAYS A REACTION THIS IS IN SOME WAYS A REACTION TO TRUMPISM. TO TRUMPISM. CORPORATE LEADERS HAVE ACTUALLY CORPORATE LEADERS HAVE ACTUALLY HAD TO ANSWER TO THEIR CUSTOMERS HAD TO ANSWER TO THEIR CUSTOMERS AND THEIR EMPLOYEES ON A LOT OF AND THEIR EMPLOYEES ON A LOT OF REALLY IMPORTANT ISSUES HAVING REALLY IMPORTANT ISSUES HAVING TO DO WITH THE ENVIRONMENT, AND TO DO WITH THE ENVIRONMENT, AND HAVING TO DO WITH LBTQ RIGHTS. HAVING TO DO WITH LBTQ RIGHTS. THE LIST GOES ON AND ON. THE LIST GOES ON AND ON. THEIR FEET ARE BEING PUT TO THE THEIR FEET ARE BEING PUT TO THE FIRE. FIRE. POLLING SHOWS YOU THAT THE ARC POLLING SHOWS YOU THAT THE ARC OF THE POLITICAL UNIVERSE IN THE OF THE POLITICAL UNIVERSE IN THE U.S. IS REALLY BENDING TOWARDS U.S. IS REALLY BENDING TOWARDS MORE PROGRESSIVE POLITICS. MORE PROGRESSIVE POLITICS. AND I THINK THESE CEOs AND I THINK THESE CEOs RECOGNIZE, A, THEIR LACK OF RECOGNIZE, A, THEIR LACK OF DIVERSITY, AND, B, THE CONTROL DIVERSITY, AND, B, THE CONTROL THEY HAVE OVER MILLIONS AND THEY HAVE OVER MILLIONS AND MILLIONS OF EMPLOYEES. MILLIONS OF EMPLOYEES. THEY ARE GOING TO GET IN FRONT THEY ARE GOING TO GET IN FRONT OF IT PUTTING A SOFTER EDGE ON OF IT PUTTING A SOFTER EDGE ON CORPORATE AMERICA. CORPORATE AMERICA. TO ME I THINK IT MAKES SENSE ON TO ME I THINK IT MAKES SENSE ON THE FRINGES. THE FRINGES. IF IT’S JUST WINDOW DRESSING AT IF IT’S JUST WINDOW DRESSING AT THE VERY LEAST, IT GIVES THE THE VERY LEAST, IT GIVES THE CEOs A LITTLE BIT OF COVER THAT CEOs A LITTLE BIT OF COVER THAT THEY ARE NOT JUST A FIDUCIARY THEY ARE NOT JUST A FIDUCIARY EAR ANY MORE BUT THEY ALSO HAVE EAR ANY MORE BUT THEY ALSO HAVE THIS SOCIAL RESPONSIBILITY. THIS SOCIAL RESPONSIBILITY.>>FROM A SENTIMENT STANDPOINT,>>FROM A SENTIMENT STANDPOINT, THE SHIFT IS HUGELY POSITIVE. THE SHIFT IS HUGELY POSITIVE. BUT CAN IT BE TRUSTED? BUT CAN IT BE TRUSTED? THINK ABOUT THIS. THINK ABOUT THIS. SOMETHING NOT MENTIONED IN THE SOMETHING NOT MENTIONED IN THE LETTERS, CEO PAY. LETTERS, CEO PAY. EXECUTIVE COMPENSATION FOR THE EXECUTIVE COMPENSATION FOR THE 100 HIGHEST PAID CEOs IN THE 100 HIGHEST PAID CEOs IN THE COUNTRY, THEY’RE MAKING 254 COUNTRY, THEY’RE MAKING 254 TIMES THE MEDIAN INCOME OF TIMES THE MEDIAN INCOME OF EMPLOYEES AT THEIR COMPANY. EMPLOYEES AT THEIR COMPANY. SO DAN CAN TALK ALL DAY LONG SO DAN CAN TALK ALL DAY LONG WHAT EMPLOYEES ARE DEMANDING AND WHAT EMPLOYEES ARE DEMANDING AND WHAT THEY CARE ABOUT. WHAT THEY CARE ABOUT. YOU KNOW WHAT THEY CARE ABOUT? YOU KNOW WHAT THEY CARE ABOUT? PROVIDING FOR THEIR FAMILIES. PROVIDING FOR THEIR FAMILIES. THAT’S NOT MENTIONED HERE. THAT’S NOT MENTIONED HERE.>>THEY CARE ABOUT PAY, HEALTH>>THEY CARE ABOUT PAY, HEALTH CARE COVERAGE. CARE COVERAGE. LOOK AT THE SIGNATORIES ON THIS LOOK AT THE SIGNATORIES ON THIS LETTER WHO HAVE BEEN AGGRESSIVE LETTER WHO HAVE BEEN AGGRESSIVE LOBBYISTS AGAINST AN INCREASE IN LOBBYISTS AGAINST AN INCREASE IN THE MINIMUM WAGE. THE MINIMUM WAGE. WALMART IS A PERFECT EXAMPLE. WALMART IS A PERFECT EXAMPLE. THEY HAVE BEEN OPPOSING MINIMUM THEY HAVE BEEN OPPOSING MINIMUM WAGE INCREASES FOR YEARS AND WAGE INCREASES FOR YEARS AND YEARS. YEARS. I DON’T RECALL IF McDONALD’S IS I DON’T RECALL IF McDONALD’S IS ON THE LIST. ON THE LIST. ANOTHER CORPORATE WELFARE QUEEN ANOTHER CORPORATE WELFARE QUEEN WHO WANTS TAX SUBSIDIES FOR WHO WANTS TAX SUBSIDIES FOR EMPLOYEES IN THE GUISE OF AID TO EMPLOYEES IN THE GUISE OF AID TO DEPENDENT CHILDREN, FOOD STAMPS DEPENDENT CHILDREN, FOOD STAMPS AND OTHER THINGS. AND OTHER THINGS. THEY USED TO HAVE A McHELP LINE THEY USED TO HAVE A McHELP LINE TO EMPLOYEES WHO WERE PAID BY A TO EMPLOYEES WHO WERE PAID BY A PRIVATE FOR-PROFIT COMPANY COULD PRIVATE FOR-PROFIT COMPANY COULD SIMULTANEOUSLY BE ON THE SIMULTANEOUSLY BE ON THE CORPORATE DOLE — GOVERNMENT CORPORATE DOLE — GOVERNMENT DOLE SO THEY DON’T HAVE TO PAY DOLE SO THEY DON’T HAVE TO PAY ACTUAL FAIR WAGES. ACTUAL FAIR WAGES. SO THE ACTIONS WE HAVE YET TO SO THE ACTIONS WE HAVE YET TO SEE ARE REALLY GOING TO TELL THE SEE ARE REALLY GOING TO TELL THE TALE. TALE.>>CHRISTOPHER, MAYBE IS THIS A>>CHRISTOPHER, MAYBE IS THIS A GREAT FIRST STEP? GREAT FIRST STEP? THESE 200 CEOs ARE OPENING THE THESE 200 CEOs ARE OPENING THE DOOR TO SAY WE CARE ABOUT ALL DOOR TO SAY WE CARE ABOUT ALL STAKEHOLDERS AND PROVIDING REAL STAKEHOLDERS AND PROVIDING REAL VALUE TO OUR EMPLOYEES. VALUE TO OUR EMPLOYEES. NOW THAT THEY HAVE SAID THAT, NOW THAT THEY HAVE SAID THAT, CAN’T ONE PUT THEIR FEET TO THE CAN’T ONE PUT THEIR FEET TO THE FIRE AND SAY, ALL RIGHT, LET’S FIRE AND SAY, ALL RIGHT, LET’S GO, DELIVER. GO, DELIVER.>>WELL, ONE COULD.>>WELL, ONE COULD. AGAIN, WE ARE TALKING ABOUT TWO AGAIN, WE ARE TALKING ABOUT TWO REALMS HERE. REALMS HERE. ACTION AND RHETORIC. ACTION AND RHETORIC. AS YOU JUST POINTED OUT, CEO PAY AS YOU JUST POINTED OUT, CEO PAY IS THE HIGHEST LEVEL IT’S BEEN IS THE HIGHEST LEVEL IT’S BEEN IN DECADES. IN DECADES. THE BUSINESS ROUNDTABLE HAS BEEN THE BUSINESS ROUNDTABLE HAS BEEN DILIGENTLY LOBBYING TO INCREASE DILIGENTLY LOBBYING TO INCREASE CEO PAY FOR DECADES. CEO PAY FOR DECADES. THAT’S WHAT THEY DO. THAT’S WHAT THEY DO. NOW THE QUESTION IS WHAT COMES NOW THE QUESTION IS WHAT COMES NEXT. NEXT. AND A LOT OF OPTIONS ARE ON THE AND A LOT OF OPTIONS ARE ON THE TABLE. TABLE. FOR EXAMPLE, IN GERMANY, YOU FOR EXAMPLE, IN GERMANY, YOU HAVE MEMBERS OF LABOR WHO CAN HAVE MEMBERS OF LABOR WHO CAN SIT ON THE BOARD OF DIRECTORS SIT ON THE BOARD OF DIRECTORS FOR CORPORATIONS. FOR CORPORATIONS.>>THAT’S WHAT BERNIE SANDERS>>THAT’S WHAT BERNIE SANDERS WANTS. WANTS.>>YES.>>YES. THAT WOULD BE A SIGNIFICANT

100 thoughts on “CEOs Say Corporations Need To Change The Rules Of Capitalism | Velshi & Ruhle | MSNBC”

  1. What are we supposed to believe? These guys are actually catching on that they are the ones that are torching the world economy?? They are admitting that they are the ones that are killing the middle class?
    They need to pay their fair share. No CEO is worth $63 million a year. Especially the ones that are screwing tax payers with corporate bail outs. I will believe all this when I see it.

  2. The guidelines won't hold without legislation, yet it is really, really hard to legislate ethics effectively over the long-term. People individually, and at the corporate level, have to take responsibility for their own contributions toward an ethical society. Our society is failing because the wealthy have lost their ethical standards in favor of chasing maximal profits with blinders on.

  3. How can General Motors build a car, Delta fly a plane or Equifax sell a credit report without paying the hardest working people in the company the most amount of money? All it takes is one executive and no union.

  4. Diamond is nothing but in the domestic terrorist destroying America's democracy because a nation should come first and he should base fair share in taxes or America will be destroyed . And he doesn't like that and a government should take his money away from .

  5. These fools pay the media to tell us it's the fault of immigrants, muslims, minorities, feminist etc while to accumulate all the wealth.

  6. There are no written rules of capitalism! These are the same leaders that allowed the short term obsessive focus on accounting profit. For a great example of long term value creation … look up the HP Way of the later part if last century. Now lost to history!

  7. It's easy to pat yourself on the back and say "Hey, I know! We should maybe look after our customers and even our workers!" when you have billions of (tax-free) dollars in your back pocket.

  8. Come on now, there’s no way that they realized that something as simple as making it so your own employees can afford your products might actually be a good thing. Or that keeping your workforce and customers alive and healthy will pay in the long run. They’re sensing a shift and trying to stay afloat or something. But whatever it is, it most certainly isn’t decency.

  9. It's clear CEOs have changed the rules of capitalism. Privatize their profits and socialize their losses. Ethics and morality gets in the way of profit.

    I think I have more respect for the mafia than I do corporations. If you break the rules within the mafia, there's a penalty. You certainly don't get a golden parachute after you ruin the business.

  10. Now folks please read this ….its important…..if you believe any of this,I ….a man that has never set foot in America …I have this great bridge in San Francisco that I can let you have really cheap,a one time special offer so call now on 000777111 at my holiday villa in Mogadishu ….call now don't miss out !!

  11. The new way these companies are talking is a dream that started almost at the time greed began. So, their words are hollow at the moment.

  12. The new way these companies are talking is a dream that started almost at the time greed began. So, their words are hollow at the moment.

  13. This is so clearly just PR from these companies, it all sounds good, but means nothing when the sh*t hits the fan! That's why we need stronger unions, and more rights for workers!

  14. Duh..This a revelation to these people? Treat your customers and your suppliers and your employees well and it's good for the company. Really? Who would have thunk it? And these people get paid millions and millions of dollars. What a bunch of hypocritical jerks.

  15. Warren is not she is a fake. The only one who can do good here is Bernie Sanders. His trying for 20 years. Last chance America. Go Bernie

  16. Talk is cheap. If they can convince enough people that they are actually going to do something then perhaps they can squeeze out a few more bucks for themselves and their friends. Voluntary guidelines are no better than self-"regulation". It's just a delaying tactic.

  17. Would any Board of Directors stand for this, or vote out executives that won't manage the company for maximum short-term value?

  18. Corporations have gone too far and there is no way to repair the damage done to our planet and specifically to our country.It will come to pass that when people have no safe water to drink or air to breathe and the cancer rate soars that they will awake and then it's pitchfork time.The CEOs are too late in thinking about how they have put greed first over the well being of us all.

  19. Sounds more like they are trying to distract the public opinion from how they are starting to realize they have been duped by all these companies.

  20. Monopoly’s are unconstitutional. Preferably sinking the ship yields greater returns for all. We don’t need them to keep business going, the business need us both workers and consumers…. a man should be able to afford the things he build, in all fairness🦅

  21. The democrats were big time in bed with Wall Street when obama was president. Talk about fascism. Obama was on in his way to being a fascist. That's where the government controls all private business and tells them how to run it.

  22. Another problem made by, for, and of capitalism. I love how we can get transistors down to the size of nanometers but we still haven't moved past this ancient disaster.

  23. I'll believe it when i see it at chase bank, greedy jamie diamond whom Obama bailed out from liquidation!
    Make all employees Shareholders too!

  24. But but but they are feeding the Nazi in Charge millions of bucks. Yep, that same nazi who with his MAGAts declared war on Americans. Tell us again how we must be passive while shot in churches and stores by Trump's brown shirts, like good little Jews going to Auschwitz.
    Trillions to the military industrial complex and law enforcement while we get slaughtered. Yeah boy, you corporate goons are making a pile of money on our deaths. Moscow Mitch gets his 30 pieces of radioactive silver, too.

  25. This idea is known as a Benefit Corp (B-Corp) and all these ideas are written into the corporate paperwork where the company must submit to a three-part bottom line: Profit, Benefit (employees and community) and transparency. It's a corporate structure and should ethically be a requirement for any business that deals with taxpayer money. https://bcorporation.net/

  26. If the Business Roundtable was formed in 1972 to combat the New Deal, it was already 40 years, three major and countless minor wars, the Atomic Age, and who knows what else. If the leading CEOs are indeed trying to change the course of a battleship, they should realize the obsolescence of battleships.

  27. You know, when the GOB says the economy is booming, how do they explain why half the American workforce makes less than $40K a year and lives on a shoestring and can barely breathe. The economy will be "booming" when people can afford their housing, medical care, education and put savings in the bank. THAT's what a booming economy looks like. Can we do that? No.

  28. Words lie. Actions tell the truth.

    These SOBs are only trying to head off what they see coming: Changes in laws and public policy, demanded by an electorate that they have been fleecing and exploiting to the point that revolt is imminent.

    They want to say, "we don't need regulations and minimum wage laws, we told you – we're committed to doing the right thing. We'll do these things, you don't need to legally mandate it." And then they'll do a few little BS "programs" that have lofty sounding names and do absolutely nothing. They will put out more statements, and when people point out they have don – DONE – nothing, they will point to the statements and say – "Look, we said we cared about workers and communities, and we've changed our policy on employees to say 'employees are our greatest asset, and will be respected and treated with fairness and dignity.' " And when you ask them what ACTIONS that has led to, they'll say something like "we've formed a committee to evaluate various proposals." And when you ask them if wages have increased or conditions have improved, they'll say "Our employees are treated with respect and they know they are valued."

    And on and on and on. And meanwhile, they'll continue lobbying for deregulation and to oppose labor laws, etc., and they'll do stuff like get tax breaks for creating those committees, and publicly pat themselves on the back for being such good overlords…

    Until people wake the F up and realize that, again,

    WORDS LIE. ACTIONS TELL THE TRUTH. And then take legal action to dissolve this New Royalism. And that is what this nation is becoming – a feudal society, ruled not by kings, but by billionaires. And just like any Royalty, the power they have over the peasants will be passed on to their degenerate offspring. Until the rulers are people like DJTrump, abject failures with no skills and no intelligence, who rise to power on the wings of daddy's money, and who believe that they are above any law, and who will continue Trump's agenda of turning this county into a sh**hole.

  29. Capitalism is a failed, dying system. You can no more "change the purpose of capitalism" than the Iron Curtain could "change the purpose" of their empire. This is the endgame.

  30. Oww my godddd they just described socialism. Huu. Btw this year mc Donald's stop lobbying against minimum wage, why only because they are failing, due to poor people are who eat their food.

  31. They are scared of the pitchforks. They are scared that the people (Millennials in particular), will implement capitalism's shadow.

  32. Stop taxing corporate income. Start taxing CEOs and those who get it.Billionaires should not exist where others are in poverty.

  33. They are full of crap!! They know they look like monsters and they are worried about how they look. Don't fall for it. Bernie 2020!!

  34. Jamie Diamond?! The lying sack of suet can't be trusted in any way shape or form.

    I'm sorry but who's the audience for this propaganda? They feel the wave the folks like Bernie have headed their way and they are frightened to the core. It's so pathetically transparent that the whole thing is grossly insulting.

  35. Oh? So are all of those CEO's going to buy-back all of their loose stock (using the Trump tax cuts of course) and then take their companies off of Wall Street?

    Because I'll happily believe them once we start seeing all these massive corporations no longer being traded on the market. Until they do, the stain of Wall Street will stick to them like stink on a skunk.

  36. Guy came out of the boss office smiling. They ask him; "You look happy. Got a pay rise?" They guy answer; "No, but the boss promised me that this year I will meet santa. This time for sure. Last year he was too busy the boss told me."

  37. Imagine a football game, with only 2 minutes remaining and Team A is ahead of Team B by 30 points. So the coach of Team A sends in a whole bunch of subs to let team B score a few points to make them feel better. The oligarchs and Wall Street have already won the game. The top 1% own like 40% of the nation's wealth. Game over.

  38. They must have figured out a new way to screw over their customers and they're going to make it seem like it's in their customer's best interest. Remember, they have already sold their souls to greed.

  39. CEO: well all our dirty laundry is in public veiw…now what?
    CFO: lets pretend to everyone we actually care about the world and people around us.
    CEO: ahahahahahaha nice joke lets just lie, its way cheaper!

  40. That's what you have become: a CORPORATE WELFARE STATE… nothing more. If you do not vote every single member of the GOP (and every corporate democrat) out of congress that will not change!

  41. AND ARE CORPORATIONS STILL CONSIDERED PEOPLE? WHERES OL FREEMASON-MORMON MITT…… NO MORE LOBBYING OUR ELECTED LEADERS, NO MORE DEREGULATING, MONOPOLIZING, DOWNSIZING AND TAX-DODGING. ALL DONE, HERE COME DA PITCHFORKS AND TORCHES.

  42. CORPORATIONS ARE SOCIOPATHIC ENTITIES – DECEPTION IS PAR FOR THE COURSE, IF THEY CAN GET AWAY WITH IT. TIME TO REGULATE, TIME FOR A REBUILT NEW "DEAL" WHO ARE THESE ELITE ILLUMINATED BETTERS THAT THE PEOPLE OF THIS DEMOCRACY MUST DEAL WITH, ANYWAY? Trump Clans? Society BOYZ and ROYALS cavorting on Little Saint James Island..?

    TAX HARVARD and close those secret societies.

  43. What a lot of BS. Corporations need oversight. Clearly without rules capitalism runs wild, it is almost as bad as communism where every prospect of profit completely buried. Now profit is the everything. Remember the ENRON scandal? Turn off electricity at a heatwave.. lets old and weak people die in the heat. .but make loads of profit cuse of the shortage of electricity… PROFIT over dead bodies.. that is the current capitalism.

  44. Let me pat myself on the back. (No reason anyone else should.) I've been saying for years that if you are in a profession, whatever it is, the local butcher, CEO of Apple, orthodontist, teacher, sanitation worker, firefighter, accountant, rodeo clown or any other job, only in order to make money, you need to change professions. I have criticized our business education institutions and our laws that insist that the main responsibility of management is to make money, not to be able to continue to stay in business and provide their products or services, which they can't do without making a profit eventually, but to make stockholders happy. Now, obviously, there is some threshold beneath which a citizen and his/her family cannot have a happy life, and there are tens of millions of people in this, the richest country in the world, who are not able to provide the basics for themselves and their families, and do not have happy lives because they cannot earn enough money. Assuming you can earn enough to provide a decent life to your family (and Fortune 500 CEO's certainly can), if you are a butcher, you ought to be in that line of work because you want to provide high quality meat to nourish your customers' families. If you are a teacher, you're in it to educate because there's nothing you want to do more than help young people, and if you're a sanitation worker, you should recognize what an important job you have in keeping our towns and cities livable and safe. If you are the CEO of Apple, you should be doing that job to provide computer and communication services and software to improve the lives of your customers and to provide a positive and productive work environment for your employees. If you are a shareholder of Apple, your first goal, before the dividends, before the selling at a profit (or taking a tax break to sell at a loss) should be to provide your money, your input into a company you believe in. I remember when I invested in a British company that was diversified, though I had no idea one of its subsidiaries produced tobacco products. I had invested in it purely on the likelihood of its stock increasing in value over a year or so. I looked at charts, worked through my brokerage's online filters, and decided I could make a buck. Like, say, Altria, the name of the company gave no hint that part of their operation was to produce cigarettes. Once I got my first quarterly report, I gasped because I had no idea about anything except the price history of their stock and their bottom line numbers over the years. I was appalled when I found out that they were making money off of future cancer, emphysema and heart disease diagnoses. (Vegans would choose not to invest in a company that sells canned meat, just to give an example, because they don't believe in what that company does.) I sold and never bought another stock purely on the basis of whether I thought I'd make a profit. There are always other companies to invest in that you believe in and will also make a profit with as an investor. If you keep these goals as number 1 and put profit at least down to number 1.5, you're going to do your job well, and find it emotionally rewarding, no matter how hard it is, no matter how annoying it might be on a given day. If the CEO's are serious, then they will make the financial rewards of working for them high enough so that they can be considered to be "investing in our employees," not just using them. Employees who believe in their jobs. Management that believes in their employees and both who first and foremost serve their customers. Sounds pretty good, no? As others have said, this CEO letter could represent a distraction, a scam, and we should be skeptical. Trust but verify and all that. Sure. It's our job as citizens to hold these CEO's to their word, but if they keep it and alter the order of priorities by relating the social and financial aspects of our lives and theirs, well, bravo. The proof of the pudding, blah, blah, blah. I'm waiting to wake up and taste the pudding. We'll see if anything changes, including my mixed metaphors.

  45. Wait a minute? Do you actually mean that there is more than one way to implement capitalism, and Americans might have been getting it wrong for so long? Whooda thunk?

  46. We'll believe these CEOs when we see the change they're "advocating". Kudos to Stephanie for mentioning Bernie. It feels like she's one of the few left at MSNBC who isn't mindlessly shilling Biden.

  47. This is BS. Would be great, but it’s not happening. Go listen to Jack Ma and Simon Sinek in their thoughts on shareholder value.

  48. I say we take the power of change and keep it in our hands and make sure the rich don't call the shots anymore. They had their chance and you see where that got us. This is just another ploy to keep control, throw a few crumbs our way then start the crap all over again. I know B.S. when I smell it.

  49. It is Patronizing and insulting to think we are suppose to believe this BS… They are scared of Bernie getting the nomination abs sticking it to them as they should!!

  50. The list of CEOs signing this document is a who's who of robber barons which tells me that these are not the kind of people with a deep belief in human dignity and a sincere desire for economic change. What it is, is a tangible sign of fear among the 1% and another indication of how out of touch they are with reality in thinking that hollow promises without actions will stem the tide. Gas up the spaceship for Mars, Jeff. The pitchforks and torches are coming and you don't have a clue.

  51. Sounds like some CEOs trying to get out ahead of a Sanders or Warren presidency and build some "good faith" public relations brownie points when regulations come crashing down.

  52. You can’t trust a capitalist to do the right thing until their neck is in a noose. I say smack that horse on the backside and let them all swing! These guys are just trying to derail Sanders and Warren. It would be far too little, far too late.

  53. They know whats coming, and is not going to be pretty, people are tired of low wages, no benefits, and no foking job security.

  54. lol scared of Bernie and Warren, same thing happened when a socialist was elected 3 times as President of the United States, leading this country out of the greatest recession. So funny that msnbc pretending to play bad cop.

  55. Writings on the wall us and uk will have left leaning goverments waiting in the wings, Corbyn in the uk is going to upend capitalism this side of the pond and hopefully the dems do t put pedo joe in and settle on Bernie in the us.

  56. Hold up ! Change the rules for whom not me ! Don't tax me after 38 HRs. Let me keep more of my money to save , invest and pay for more goods and services! Let the little guy win some WTF!

  57. We need a serious overhaul of the laws concerning Corporations, and the first thing that needs to be changed is the Corporate Veil, Investors should be held responsible for HOW their money is made.

  58. OK, almost all American comments expressing distrust towards the capitalism — what kind of capitalists do you have in US, and why do you allow them to wreak havoc like they did? (I'm a Swede). For the rest I would like to know what kind of changes of the system that is on their wish-lists — I presume the opinions differ from capitalist to capitalist, but perhaps there is a common ground.

  59. I hope they can all make a group photo when they are in prison. CEO's are corrupt, greed driven, inhuman monsters. So there!

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