Many Companies Are Not Helping President Obama Fight Unemployment

Aol Daily Finance reported that many companies flushed with money are opting to buy back their respective stocks instead of hiring workers that they fired. Many of these companies, whose financial books are now in the black, due in large part to their cutting close to the bone of employees, during the recession, are not recalling their laid off workers.

From a pure business point of view, this makes business sense: if these companies can produce what they did in the past with the bare bones work force - why then re-hire those that were let go? Shareholders seeing all these money are lauding their respective boards that voted to increase the worth of their respective stocks by buy backs. The only grating issue is that if these companies were given tax breaks from the public coffers during the economic down turn to assist them, then therein lies the disconnect.

President Obama has been pulling out all the stops to jump start the economy and these companies, which have the cash on their books to rehire, can put a size-able and conspicuous dent in the daunting 9.5 unemployment rate – these  companies are operating on pure unadulterated greed. The fact is that these companies can have both good balance sheets and re-employ their workers, especially if they took and are taking advantage of tax breaks and not paying their fair share of taxes. There are those of us who make far less than these companies, who are benefiting from the peoples’ money via loop holes and tax breaks, yet most of us fairly and honestly render onto Caesar when we are gainfully employed.