Corporations: Who are they?

[Zeb_Carter]

When you here the word Corporation what flashes through you mind as to who or what they are? Let get right down too it.

Corporation!

Put a face on the word...

What do you see?
Who do you see?
What do they do for us, to us?

I will reserve my thoughts on this for a few post or so!

 

[Roxanne Appleby]

Names of companies held by the retirement account mutual funds and pension funds owned by/benefitting more than half the households in America.

The entities that make the stuff we need to enjoy our comfortable modern livestyles: Donuts, computers, sex toys, cars, glue, furniture, energy, windows, etc.

 

[Matadore]

Names of companies held by the retirement account mutual funds and pension funds owned by/benefitting more than half the households in America.

The entities that make the stuff we need to enjoy our comfortable modern livestyles: Donuts, computers, sex toys, cars, glue, furniture, energy, windows, etc.

Might we add to this corporations are responsible for much of the R&D required to keep ahead of the product curve.

Like the two party political system, corporations work best when part of a checks and balance system that keeps them focused and in line with most of the population's needs.

 

[SweetPrettyAss]

When you here the word Corporation what flashes through you mind as to who or what they are? Let get right down too it.

Corporation!

Put a face on the word...

What do you see?
Who do you see?
What do they do for us, to us?

I will reserve my thoughts on this for a few post or so!

I think of big companies but I know that most are little more than mom and pop companies.

 

[SEVERUSMAX]

The sad truth that most lefties can't accept is that most regulations aimed at big MNCs (multinational corporations) actually hurt small business more than big business. While some regulation is necessary, it is often overdone on the assumption that the majority of employment and business is done by big companies. In reality, the bulk of commerce and employment is done by medium and small companies. Since large corporations are so big that most regulations barely affect their bottom line, the majority of the impact is on small business. That's the sad reality of much of the regulatory legislation out there.

 

[Darkniciad]

Emphereal machines created to generate cash. Like any machine, they require a source of energy, which in this case is demand for goods and services. Likewise, they produce by-products in the process of creating the desired outcome, which in this case is employment, goods and services.

 

[Huckleman2000]

They're legal entities created to provide a vehicle for raising capital through investment, rather than debt markets or accumulated wealth. This limits or spreads possible liability for any single investor, compared with sole-proprietors or partnerships. In return for this limited liability, corporations have legal standing similar to individuals in that they may be sued, own property, are subject to regulation and taxation, and so forth.

 

[Pure]

i see busy-little-beaver fountainheads of creativity passing along vital income to mr. and mrs. jones, retirees with small nesteggs in stocks.

 

[Huckleman2000]

i see busy-little-beaver fountainheads of creativity passing along vital income to mr. and mrs. jones, retirees with small nesteggs in stocks.

ROFLMAO!

 

[R. Richard]

Emphereal machines created to generate cash. Like any machine, they require a source of energy, which in this case is demand for goods and services. Likewise, they produce by-products in the process of creating the desired outcome, which in this case is employment, goods and services.

As you say, a machine created to earn income. The corporation is an artificial person, so that the death of an owner does not end the operation. A corporation can be, at least in some jurisdictions, a single person. Or, a corporation may have thousands [or even millions] of employees. [Lest some crude mofo challenge me, there was a time when Japan was commonly referred to as Corporation Japan.]

A corporation offers goods and/or services for sale or barter. The corporation either satisifies an existing need(s) or creates a new need(s). If I make soap, I satisy an existing need. If I offer a custom whiz bang and maintenance, I may create new needs.

As you have pointed out, I produce by-products. Some of the byproducts may be bad, such as harmful chemicals, gasses, biological waste, etc. Some of the byproducts may be good, such as employment of people and, perhaps, other companies and corporations. A corporation also produces products in the form of goods and services. Goods and services are not by-products, they are part of the the reason the corporation exists in the first place. If the corporation wants income, it must practically sell goods and/or services.

It might be pointed out that the individuals who staff a corporation do not all have the same goals. The worker wants a paycheck and a safe, clean workplace. The middle manager wants a steady steam of goods and/or services, with no troubl and as little work as possible by the middle manager. The upper management wants MONEY and POWER! There are also polititcians at each level of any corporation of more than a few people who do nothing except possibly create trouble and they want MONEY and POWER!

 

[Liar]

What is, specifically, the difference between a company and a corporation?




I think that there are emotional connotations attached to some words. I know I have 'em. For me it's not really based on anything but gut feeling, but here you have it:

A business is what mom and pop run. The local family owned pet shop down the street is a business. They might have an employee. Or two. Or mostly not. We like business. They are friendly and not intimidating. We could run a business of our own.

A company is also a nice thing. (Who doesn't want company, right?) It's a group of people working together. With a management organisation, office space, factory floor, stuff like that. Companies can vary in size from tiny to huge, but they all have an idea, a gameplan to make something and sell it, and they work it.

A corporation is a former company that forgot the gameplan. Most often it's a central company that grown big not by making a great product and selling it, but by making a decent product and making enough money on it that they could buy a smaller company with a better product. And then another. And another.

A conglomerate or simply group is two or more corporations blobbing together to form a bigger and more powerful corporation, as well as aquiring market dominance and stability at the cost of market diversity and competition.

 

[Pure]

liar,

what should be mentioned, and hasn't, is this.

you and i form a company (partnership) and sell some item, but in the process rip off suppliers, scam the banks, etc. well, the cops can come after us for thieving, etc. and the suppliers and banks can sue us for the funds.

IF you and i are shrewd and form a 'corporation'-- a legal 'person', as RR says, then if we do the same things, it's usually only the 'corporation' that's liable.

so we simply dissolve that entity, and there is no personal liability in most cases, meaing you and i are not prosecutable as individuals nor can we, in most cases, be sued for the funds we've stolen.

neat law, eh? (wonder who crafted it?)

 

[Huckleman2000]

Nice point, Pure. And while I'm tempted to shrug at the atlas of beneficial effects of corporations cited by others, I must reiterate that the main purpose of forming a corporation is to manage risk.

Risk of personal investment, risk of personal liability, shelter of accumulated wealth. One common tactic of small business owners is to purchase the building where the business is located, incorporate the business, and pour profits into "rent". This takes the wealth accumulated by the business, which is in cash, and turns it into real estate. Owning real estate is a lot more risk-stable than owning a business, and historically a very good investment. It's not as liquid, but generally a better place to park accumulated wealth than 'retained earnings'.

To assert that the benefits of managed risk and access to capital should come without cost is foolish. Otherwise, we'd all form corporations and none of us would have any liabilities.

 

[dr_mabeuse]

I see a place where I didn't fit in at all. That's what I see.

Oh, I suppose they're pretty much like people in general--some are good and wonderful, some are evil and terrible, but I'm afraid the image that comes to mind for me is an outfit whose idea of virtue is selling 3 cents worth of soap for $3.95

But I'm sick of money. We talk about money and economics like it's the only value that matters anymore. The values of the marketplace have become the highest values in American life. That's just fucking sick.


--Zoot

 

[Roxanne Appleby]

liar,

what should be mentioned, and hasn't, is this.

you and i form a company (partnership) and sell some item, but in the process rip off suppliers, scam the banks, etc. well, the cops can come after us for thieving, etc. and the suppliers and banks can sue us for the funds.

IF you and i are shrewd and form a 'corporation'-- a legal 'person', as RR says, then if we do the same things, it's usually only the 'corporation' that's liable.

so we simply dissolve that entity, and there is no personal liability in most cases, meaing you and i are not prosecutable as individuals nor can we, in most cases, be sued for the funds we've stolen.

neat law, eh? (wonder who crafted it?)

And that's why none of the individuals at Enron were ever prosecuted and were never liable for criminal offenses for which they might have to go to jail.

Wait a minute - the individuals at Enron were prosecuted, and were liable . . .

 

[neonlyte]

Corporation for me = stockholders/shareholders holding investment with the intention of return. A company is a similar thing with usually fewer investment partners.

The two exceptions I am aware of (but I'm sure there are others) are: Bosch - whose stock is largely owned by a charity and a UK Corporation John Lewis which is a partnership owned be all of its employees down to the guy who sweeps the warehouse floor. Wellcom pharmacuticals used to be a charity, the trustees 'sold out' ten or so years ago and created the Wellcom Trust which invests the proceeds of the sale in charitable works.

All the rest are 'in it for the money' - not saying that is a bad thing necessarily.

 

[neonlyte]

And that's why none of the individuals at Enron were ever prosecuted and were never liable for criminal offenses for which they might have to go to jail.

Wait a minute - the individuals at Enron were prosecuted, and were liable . . .

Take a careful look at what they were prosecuted for - mostly for offences against Enron, not shareholders/stockholders, or prosecuted for prescribed regulatory breaches but not where most damage lay in the legitimately allowed off-shore affiliates.

 

[672]

Oh, every single one of you missed the true definition of Coporations. Tsk. Have you been so far displaced?

Corporations are soul-sucking vampires one and all. They'll steal you from your happy job one week, and then fire you two weeks later because the Semi-Annual sale is almost over, and they just wanted you for a couple of nights.

They don't care if they fuck you over, if you're out on the street, or dizzy from hunger because you didn't eat before you came in to work today, and you're broke.

Just don't steal, or even -think- about stealing from us. That three cents worth of soup goes for $4.32 a cup. Stealing is wrong. That five cents of sugarbread is worth $2.80. Go eat elsewhere, or pay your 50 percent discount like the rest of them.

And you're easily replaced. Just thought you should know. Remember the survey? Plenty will answer just. Like. You.

Yeah. That's what a Corporation truly, and "admirably" is.

I think I rant a lot.

"No one mourns the wicked!"

 

[Zeb_Carter]

This has been a very interesting read except perhaps '672s' post...I think someone needs help and should seek it as fast as possible.


When I hear the word corporation what spring into my mind is individuals. The only way for most corporations to survive is through it's individuals, stockholdres, directors, officers, employees, customers. Without these there is no corporation. Take away any two and the corporation ceases to be, can nolonger function efficently and withers and dies.

 

[Pure]

yep, full accountability... some day

roxanne said

the individuals at Enron ... were liable . . .

OK, in a couple years please post here what payouts to those persons swindled have been made by Skilling and the estate of Lay.

Wait!... At least one newspaper says the estate of Lay will have no liability! damn. inconvenient facts.

 

[R. Richard]

roxanne said

the individuals at Enron ... were liable . . .

OK, in a couple years please post here what payouts to those persons swindled have been made by Skilling and the estate of Lay.

Wait!... At least one newspaper says the estate of Lay will have no liability! damn. inconvenient facts.

Probably the estates of the top executives at Enron will pay very little or nothing to those who were damaged. The divorce courts will take some of the money, the lawyers most of the rest and the government will assess penalties due to unpaid taxes where fraud was involved.

The punishment is that the top Enron executives will be poor, peons the rest of their lives.

As to Lay, I posted in another thread: "A cheap legal trick!" Since Lay's lawyers were still appealing the case, his estate wil have no liability, because he is innocent even after being proved guilty. The loophole is that he is dead and not able to assist in his appeal. Actually, I could agree with the idea of Lay getting off, it they would take the money from his legal team.

JMNTHO.

 

[Zeb_Carter]

Probably the estates of the top executives at Enron will pay very little or nothing to those who were damaged. The divorce courts will take some of the money, the lawyers most of the rest and the government will assess penalties due to unpaid taxes where fraud was involved.

The punishment is that the top Enron executives will be poor, peons the rest of their lives.

As to Lay, I posted in another thread: "A cheap legal trick!" Since Lay's lawyers were still appealing the case, his estate wil have no liability, because he is innocent even after being proved guilty. The loophole is that he is dead and not able to assist in his appeal. Actually, I could agree with the idea of Lay getting off, it they would take the money from his legal team.

JMNTHO.

His estate is still subject to civil suits brought by the injured, it's only the government which can not seize his estate.

 

[Huckleman2000]

In any case, most of the billions lost by Enron shareholders (many of them employees) is unrecoverable. The money is long since spent, and the actual assets of the company are a tiny fraction of what anyone spent on the stock. Moreover, stockholders are last in line for any proceeds from sale of the assets.

 

[SweetPrettyAss]

Probably the estates of the top executives at Enron will pay very little or nothing to those who were damaged. The divorce courts will take some of the money, the lawyers most of the rest and the government will assess penalties due to unpaid taxes where fraud was involved.

The punishment is that the top Enron executives will be poor, peons the rest of their lives.

As to Lay, I posted in another thread: "A cheap legal trick!" Since Lay's lawyers were still appealing the case, his estate wil have no liability, because he is innocent even after being proved guilty. The loophole is that he is dead and not able to assist in his appeal. Actually, I could agree with the idea of Lay getting off, it they would take the money from his legal team.

JMNTHO.

What you say about "punishment" is nonsense, and you must realize it. They transferred enough assets into the names of relatives and into offshore accounts to live a life of ease, unless they are in prison.

 

[Joe Wordsworth]

Corporation... an excellent business model for the management of a company with diverse interests, far reaching distribution, highly demanded products or services, with an eye for organizational solidarity and both fiscal and legal efficiency.

For the discerning businessman or woman who wants expansion AND cohesion, without having to centralize all the authority in themselves... its just the only way to fly.