Fortune 500 and The American People: The Huge Divide and The Robbery Continue

[marmar]

from the Working Life blog:



Fortune 500 and The American People: The Huge Divide and The Robbery Continue

by Jonathan Tasini
Thursday 05 of May, 2011


It's a great time in America--if you are the CEO of a Fortune 500 company. Not so much if you are a regular American. The profit gains of the Fortune 500 registered the third largest gain in history in 2010. By contrast, the people continue to struggle.

Even the editors of Fortune recognize the problem:

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.

Sure, these corporate profits derived partly from productivity gains, including workforce reductions. And many 500 companies are growing faster overseas than in the U.S. Nevertheless, we've rarely seen such a stark gulf between the fortunes of the 500 and those of ordinary Americans.

Topping the list of the Forbes fortune: Wal-Mart. ..............(more)

The complete piece is at: http://www.workinglife.org/blogs/view_post.php?content_id=15170