Dr. B. comments on H-P's recent decisions on Marketwatch.com:
H-P’s unfolding strategy reflects how America’s evolved capitalism misguides our corporate conduct. Management at H-P feels compelled to chase faster profit growth to enhance share price appreciation for investors and stock gains for executives. This madness springs from a stock market architecture that blesses growth, regardless of the cost, while penalizing responsible service to the common good.
A thoughtful discussion of H-P’s responsibilities to America is nearly absent from the current debate over H-P business strategy. Should American corporations have the right to spurn the public interest? If the U.S. Constitution withholds such rights from the respective states, why should massive corporations have more power than the states? If Louisiana has no right to contract its offshore oil to foreign countries, why should H-P be able to sell American jobs and critical technology to foreign interests? Wake up, America, before it’s too late!
Why some of H-P’s plans make no sense. Therese Poletti. Aug. 23.