Good business folks used to nurture ventures for the long haul, paying decent wages for secure jobs, offering products and services customers valued, and paying taxes that sustained communities. Their companies were built to last. Too often, today’s corporate kingpins are instead focused on short-term gains – to the detriment of workers, customers and communities. Such companies are “built to loot,” as Chuck Collins of the Institute for Policy Studies says.
Verizon is an example of such looting, according to two unions in Year 2 of bargaining with the company.