Lincoln Electric has roughly 3,000 employees in the U.S., 264 in Canada and 7,500 more around the world. The firm remains in 2013, as it has since the 1930s, the dominant player in the global electric welding industry and yet, it refuses to lay off its employees in tough times.
The Guaranteed Continuous Employment Policy remains unbroken since at least 1948. That's 65 years! (The no-layoff track record may in fact go as far back as 1925, but the records before 1948 are less reliable than those since.) No one was laid off for lack of work through the Great Depression, wars and now the Great Recession.PBS News
The Miracle of Profit-Sharing: Year 65 and Still No Layoffs
Frank Koller
Meanwhile in Greece:
ReplyDeleteA secret deal between the Greek government and troika for unlimited massive layoffs!
http://failedevolution.blogspot.gr/2013/12/latest-info-secret-deal-between-greek.html
Where have I heard that word "share" before? Oh, yeah, it's another word for common stock.
ReplyDeleteAnd what is common stock? Common stock is shares in Equity.
And what is Equity? Equity is the residual of Assets - Liabilities.
And where is Equity located on a balance sheet? Equity is located on the same side of the balance sheet as Liabilities and is thus backed by the Assets too. And thus shares in Equity are backed by the Assets too and can be USED AS PRIVATE MONEY, same as the Liabilities can but without DEBT.
The truth shall set us free - of debt and usury - if we are willing.