Cougsfan
Veteran Member
- Joined
- Sep 10, 2008
- Messages
- 1,632
- Location
- Eastern Washington State
- Tractor
- Ferguson TO35, Branson 4720CH
It happened when our business was sold from one publicly traded company to another. The original company left us alone because we turned a very reasonable profit year after year. They sold us to a different company when other parts of their business (real estate) went south and they desperately needed cash. The new owners insisted on slowly changing us to their image, a top down company that primarily focused on quarterly profits. Slowly, over the years my company went from being profitable to not being profitable, as fewer and fewer decisions were made at the local level. (Many of those upper level decisions forced on us were literally stupid.) It also slowly evolved from a great place to work to a not very enjoyable place to work.Just curious, did the size of your company expand along with such changes, and was it (or did it become) a publicly traded company?
Many criticize relentless pressure for quarterly profits. But if you are a pure investor, buying stock through an exchange, you expect such focus and diligence to make your investment pay off.
This maximizing short term returns mindset is a contributing factor to our jobs going overseas.