Correct. This is why I’ve always differentiated between founding CEOs and “professional” CEOs (and other executive positions).
But it’s not just a matter of corporate management. The financial industry is one of the biggest problems in this country, IMO. They set themselves up to skim a portion of almost every legitimate transaction out there, yet they do very little to benefit society or the economy. We could easily set up a public bank that could facilitate transactions and even make loans to people and businesses for a fraction of the cost.
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[quote=spdrun]… or France. Or Germany. Or any number of countries where certain companies are publicly owned.[/quote]
..Or why not go fully monty and just say all rental properties should be publicly owned? Afterall, how dare us pigglords use on our capital and good credit scores to buy rental property, to provide housing for people that need/want rental in exchange for something called “profit” so we don’t have to work in the future when we’re too old to work and count on government provided benefits completely
…There should be no profit at all in the rental business for things such as providing bare necessities like shelter for the greater good of people, so that we can keep rent prices to the absolutely bare minimum and avoid “skimming” profits from rentals…
… But we don’t need to wait for government action before that goodness is done…We can do it right now together… Even though we might be several hundreds/month cash flow positive and very profitable, let’s think about the greater good of people and just stop doing that and offer rentals with rent prices really low at $0 profit…
Come on guys….Who’s with me?????[/quote]
You know how I feel about this. Housing/shelter is a basic necessity and, in my opinion, should not be subject to speculation. Personally, I have a problem with speculation where “investors” simply buy something that *already exists* in the hopes of extracting rent or selling it for a profit in the future — whether housing/land, agricultural commodities, industrial metals and other raw materials needed for production, etc. Some would argue that this makes a market more efficient, but it doesn’t. Speculators will enter and leave markets at exactly the wrong times — driving up prices in anticipation of shortages and/or unusually high organic demand, and selling in anticipation of supply gluts and/or unusually low demand. They cause greater volatility, and make the bubbles, booms and busts more pronounced; they do far more damage than good in most markets.
Of course, if you BUILD rental units and rent them out for a profit, I don’t have a problem with that, assuming that the land used for the units isn’t needed by others who would like to own their own homes, instead. As it works now, speculators/landlords are competing with people who are simply looking for a home of their own and they are driving prices well above where they should be. I most definitely have a problem with this.
