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URL:  http://boards.fool.com/quotim-not-sure-i-quite-get-your-point-yes-we-26862278.aspx

Subject:  Re: Is your 401(k) Inadequate For Retirement Date:  7/31/2008  9:13 AM
Author:  Howie52 Number:  13760 of 19257

"I'm not sure I quite get your point. Yes, we are losing enormous amounts of our manufacturing base to nations that provide labor at a $1/hour (or less). Our corporations have been most succesful in shifting manufacturing to the lowest labor cost nations available (oftentimes without reducing the price of the goods sold to US consumers...think Nike).

Some have argued that's a good thing. I'm still trying to wrap my mind around all of the implications.

What I'm talkin' about isn't overseas manufacturing. There are jobs, a heckova lotta jobs, that can ONLY be performed here in the good ol' US of A. Construction, service, agriculture...all manner of jobs that can't be outsourced. I'm talkin' 'bout those jobs. Jobs once performed by American workers, jobs once performed by union labor, jobs once performed for higher wages than the wages paid today. We've seen a HUGE influx of illegal immigrants who've displaced American workers (while this administration has turned a blind eye...well...with a wink and a nod, actually). We've seen executive compensation grow by double digits year after year after year, while these same executives slash salaries and benefits for their labor force claiming, all the while, that it is vital to do so when competing in the international arena (never mind that our CEO's "earn" about four times more than their EU competitors).

That's what I was talkin' about. What's your point? "

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

The point is that there is a world beyond our shores and it will neither
go away nor will it permit itself to be a permanent supply of raw
materials.

As far as administrations - they are all the same.
As far as illegal immigrants - they come because of the higher wages
here and the opportunity to improve their lives.

They don't come because of lower wages and the added hardship of
living in America.

Basically, the point is your suppositions do not fit the facts that I
see in the country or the world.

As far as exeutive compensation, there are some companies that I agree
pay excessive salaries, bonuses, retirement perks, and do not
effectively tie salaries to performance. What do you propose to
do about an individual CEO's salary?

Personally, I would not want a CEO's job for all the money in China.
A simple life is worth more than CEO's make.

Howie52
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