Friday, April 6, 2012

Yahoo Layoffs and a new CEO

The article I read from CNN was about the 2000 workers who will be laid off scheduled for April 17th by the Yahoo company. The bold decision came from the new CEO, Scott Thompson, who said the job cuts are "an important next step, toward a bold, new Yahoo--smaller, nimbler, More Profitable and better equipped to innovate. The part about more profit, $375 million a year, is the part that stick out to me. In this difficult economical time I think the already rich business owners should be using their advantageous position to help the economy, not contribute to unemployment. This article relates to the early 1900's because the business owners back then seam to have controlled everything. In 1890 the wealthiest 10% of people owned 73% of the wealth, in 1990 it was at 68%. In a century the number barely changed, this means that when you control the money, you control the power as well.

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