Re: Wall Street seemingly loves businesses cutting costs to maximise profits
Its all about short term gain in the 2008 post-growth capitalism model.
Nope, it was happening a lot longer ago than that. In 1997 or there or thereabouts when the great offshoring to China was getting going I distinctly remember having a discussion about the likely impact. ie, companies did very well off in the short term, and the country as a whole would do very badly in the long term.
This was quite obvious to the people at the bottom, and so must have been as obvious to the people at the top collecting huge bonuses for doing it.
Biting the hand that feeds IT
