A shipping company built by years of hard work starts to reduce work force to increase profits!
This seems to be the way many businesses seem to look at profits in the western business world. By reducing a companies costs should increase the profits? As much as this does have the intended effect, business these days seems to be driven to succeed for just the next quarter!
I heard years ago that in some businesses, they had a 200 year business plan! When you take 200 years into account, what does it mean that you only increased profit by 1% this quarter, if you compounded this over 200 years, this company would be a company that I would love to hold stock in as the price I pay today for this stock is only a small fraction of the return I will get from this company.
In closing, as unemployment continues to stride higher, as companies shrink their workforce to make more profit this month, what are the long term consequences of their action?
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