Drudge Retort: The Other Side of the News
Monday, January 08, 2018

At least two major companies that publicly announced large bonuses for their employees after the passage of a massive GOP-led tax overhaul -- which represented a windfall for wealthy Americans and big corporations -- quietly laid off hundreds of workers at the same time. Comcast laid off more than 500 sales employees right before Christmas, according to documents reviewed by media outlets including the Philadelphia Enquirer, Philly.com, and the Daily News. The documents were confirmed by at least one former Comcast employee who was not identified in the press. AT&T is also in the process of laying off thousands of employees, according to the Communication Workers of America (CWA) union, which represents AT&T workers. CWA filed a lawsuit against the company claiming that some of those layoffs are needless, and that the timing of the terminations -- just two weeks before Christmas -- represents "an extraordinary act of corporate cruelty."

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Comcast and AT&T were among the businesses that claimed Republican lawmakers' effort to restructure the tax code in favor of wealthy corporations would allow them to be more generous to their workers, and publicly announced $1,000 year-end bonuses for their employees. The CEOs of both companies specifically cited the tax bill in separate press releases touting these "special" bonuses.

But Larry Robbins, the vice president of CWA Local 4900, told the IndyStar that AT&T started privately notifying its workforce of impending layoffs at the same time as it publicly celebrated the benefits of the tax bill. "We believe the $1,000 bonus and the promise of 7,000 new jobs are all a publicity stunt," Robbins said.

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Even though promises of big worker bonuses have successfully captured headlines, large corporations have already signaled that their shareholders are the ones who will reap the greatest benefits of the tax overhaul. Several major companies have announced massive share buybacks, which don't do anything to benefit their workers but instead further enrich their shareholders.

#1 | Posted by Gal_Tuesday at 2018-01-07 02:46 PM | Reply

Shocking.

#2 | Posted by Angrydad at 2018-01-07 04:10 PM | Reply

If corporations do something that looks nice or altruistic, dig deeper. It's likely just cover for them being POSes.

#3 | Posted by jpw at 2018-01-08 10:01 AM | Reply

Wait a Minute!

Are you saying that trickle down economics is not working once again? I am really surprised. It never worked before, but I was sure that it would work this time. Dammit.

Trickle down - 0
Everything else - 1,000,000,000

#4 | Posted by kudzu at 2018-01-08 10:02 AM | Reply | Newsworthy 2

Companies only have one purpose - to create value for their shareholders.

#5 | Posted by BruceBanner at 2018-01-08 01:47 PM | Reply | Funny: 1

Any economic success works against them in 2018 so they will be forced to root against it.
#7 | Posted by Rightocenter

#6 | Posted by ChiefTutMoses at 2018-01-08 02:07 PM | Reply

So far only 16 of the fortune 500 companies have announced or made changes that benefit employees in any way and those that have only put a fraction of their windfall to that purpose. As of this writing only 0.16% of the tax windfall for the fortune 500 is destined to go to workers

#7 | Posted by hatter5183 at 2018-01-08 02:26 PM | Reply

When the spurt of growth turns out to be short lived, will you still give Trump credit?
No, I will be more than happy to blame him and his policies, will you give Trump credit if it persists for the next 3-4 years?
#14 | Posted by Rightocenter at 2018-01-02 12:43 PM

didn't even make out the month

#8 | Posted by ChiefTutMoses at 2018-01-08 02:33 PM | Reply

How many times can the GOP play the same trick on their working class supporters? As many times as they want.

GOP = Greedy Old Party

#9 | Posted by danni at 2018-01-08 02:50 PM | Reply

Workers laid off after the wealthy get tax cuts? The ghost of Ronald Reagan is grinning from ear to ear.

#10 | Posted by moder8 at 2018-01-08 03:12 PM | Reply

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Are you saying that trickle down economics is not working once again? I am really surprised. It never worked before, but I was sure that it would work this time. Dammit.

#4 | POSTED BY KUDZU AT 2018-01-08 10:02 AM | REPLY | HERE WE GO AGAIN

www.cc.com

The clowns make it so easy to hate them... they are ass#@!*s

#11 | Posted by RightisTrite at 2018-01-08 03:40 PM | Reply

Wait, am I so far inside CocoChief's grill that he is creating his own Creepy Archive of my posts?

Sweet!

#12 | Posted by Rightocenter at 2018-01-08 04:00 PM | Reply

Companies only have one purpose - to create value for their shareholders.

#5 | POSTED BY BRUCEBANNER

That would be "Profit Corporations".

There are dozens of company classifications where stockholder profits are not the primary purpose.

#13 | Posted by IndianaJones at 2018-01-08 04:20 PM | Reply

#13 | Posted by IndianaJones
The Government is not a Company.

#14 | Posted by Federalist at 2018-01-08 10:45 PM | Reply

I work for a fortune 5 company, still waiting for my raise.

Meanwhile our criminal CEO/chairman of the board has committed insider trading at least 3 times in the last 3 years, and not a peep even though it's been reported to the SEC. Got a feeling the new huge influx of cash isn't going to make it past him or the executives.

#15 | Posted by aborted_monson at 2018-01-09 02:37 AM | Reply

People really have no clue how business works yet they are the first to spout opinions based on knowing nothing. Companies don't just say "Hey, a law passed yesterday, let's make a major decision that impacts our companies strategy and bottom line and carry it out within a month". It doesn't happen. Layoffs are known about months in advance. Bonuses are not (although the idea of a bonus can be materialized). This is just like the bane of every POTUS who takes office; the first day in people start blaming them for all of the country's problems. The true effects of a big piece of legislation aren't realized for months to years. That's how it works. You can argue it all day by using your opinion but that doesn't change the facts.

Companies aren't going to make a strategic decision based off of what could happen with this reform. They are going to take the year, see how it impacts the bottom line, and then make judgement calls on what to do. If, in the latter part of 2018 or 2019, people start getting laid off and performance measures start taking hits on companies with no real explanation, THEN you have your result of the tax overhaul. Anything done prior to that are things companies have already strategized and calculated many times over for long periods of time based on results, not on "Hey man, a new law so I can spend everything I have because I'll get it back ten fold because a politician passed a new law!!!". Those who believe otherwise are the problem.

#16 | Posted by humtake at 2018-01-09 12:02 PM | Reply

"Companies don't just say "Hey, a law passed yesterday, let's make a major decision that impacts our companies strategy and bottom line and carry it out within a month"."

When a major tax law is passed companies most certainly do make plans to take advantage of those changes as soon as they possibly can, to pretend otherwise just demonstrates that you know nothing about how businesses operate.

#17 | Posted by danni at 2018-01-09 12:13 PM | Reply

They pay many accountants to read those laws, analyse them and tell them how to take advantage of them. What do you think accountants do for a living? Bookkeeping?

#18 | Posted by danni at 2018-01-09 12:14 PM | Reply

But this POTUS is bragging about how his tax plan is already making a difference. You're right about the amount of time it takes to plan, but that only proves that the success of the economic growth, e.g., lowered unemployment, profits, stock market are the product of the economic environment a year or more ago (i.e., under Obama's policies). It won't be until at least the end of this year to know the results of the current administration and Congress on the economy. But they'll attempt to convince their sheep that anything good that happens at this point is because of Trump.

#19 | Posted by WhoDaMan at 2018-01-09 12:16 PM | Reply

#14 | POSTED BY FEDERALIST

Correct. Thanks for the non-sequitur.

If government functioned like a company, it might get things done. Unfortunately, anti-government officials shoot their employer in the foot in order to perpetuate their own notion that government can't work.

If it were a company, you could fire the anti-government stonewallers.

#20 | Posted by IndianaJones at 2018-01-09 12:34 PM | Reply

Government doesn't function like a company because government isn't a company. The structure is completely different, by design. Gridlock and slow movement was a feature that was built into our system of government.

#21 | Posted by JeffJ at 2018-01-09 12:39 PM | Reply

"Government doesn't function like a company because government isn't a company"

haha

apparently some have forgotten they chanted that the government needs to be run like a business

good grief you asshats are capricious

#22 | Posted by ChiefTutMoses at 2018-01-09 12:54 PM | Reply | Newsworthy 1

Companies aren't going to make a strategic decision based off of what could happen with this reform. They are going to take the year, see how it impacts the bottom line, and then make judgement calls on what to do. If, in the latter part of 2018 or 2019, people start getting laid off and performance measures start taking hits on companies with no real explanation, THEN you have your result of the tax overhaul. Anything done prior to that are things companies have already strategized and calculated many times over for long periods of time based on results, not on "Hey man, a new law so I can spend everything I have because I'll get it back ten fold because a politician passed a new law!!!". Those who believe otherwise are the problem.

#16 | POSTED BY HUMTAKE AT 2018-01-09 12:02 PM | REPLY

So what you are saying is that the current economic boom is all Obama.

THANKS OBAMA!

#23 | Posted by hatter5183 at 2018-01-09 03:48 PM | Reply

Hummer and JEFF proving once again they are clueless about everything.

Hey guys, your stubby little moustaches are growing in nicely so you have that going for ya!

#24 | Posted by aborted_monson at 2018-01-09 05:04 PM | Reply

Hummer and JEFF proving once again they are clueless about everything.
Hey guys, your stubby little moustaches are growing in nicely so you have that going for ya!

#24 | POSTED BY ABORTED_MONSON

My only comment on this thread is that government doesn't run like a company because it isn't structured like a company.

Are you suggesting otherwise?

To throw in a lame Hitler comment in response to that is pathetic, even for a low-rent troll such as yourself.

#25 | Posted by JeffJ at 2018-01-09 05:19 PM | Reply

"My only comment on this thread is that government doesn't run like a company because it isn't structured like a company."

The United States of America is a corporation.

#26 | Posted by snoofy at 2018-01-09 05:26 PM | Reply

The United States of America is a corporation.

#26 | POSTED BY SNOOFY

The structure of the US government is fundamentally different than the structure of a large company. And it's not just the structure, it's the level of control the leaders of a company have over the direction of their company as opposed to all of the checks and balances inherent in the design of the US government.

#27 | Posted by JeffJ at 2018-01-09 05:33 PM | Reply

"The structure of the US government is fundamentally different than the structure of a large company."

Is it? We have a CEO with that ultimately oversees about five million employees. Sounds a lot like WAL*MART.

#28 | Posted by snoofy at 2018-01-09 05:35 PM | Reply

If you don't understand the fundamental differences then I can't help you.

#29 | Posted by JeffJ at 2018-01-09 05:36 PM | Reply

If you can't explain the fundamental differences then you're the one that needs help, not me.

#30 | Posted by snoofy at 2018-01-09 05:37 PM | Reply

Jeff,

Plonk that ------ once and for all.

Or just ---- with him for entertainment.

He shouldn't ever believe anybody here takes him seriously.

#31 | Posted by eberly at 2018-01-09 05:45 PM | Reply

i am not interested in playing games. I've already cited a couple of key differences. Anyone who has ever watched School House Rock understands the constraints our check and balance system places on our government and how that differs from the autonomy and level of control company leaders have over the direction of their companies.

#32 | Posted by JeffJ at 2018-01-09 05:58 PM | Reply

Corporations are structured all sorts of ways, though.

The reason government isn't run like a company isn't the structure. It's the mission.

#33 | Posted by snoofy at 2018-01-09 06:01 PM | Reply

The reason government isn't run like a company isn't the structure. It's the mission.

#33 | POSTED BY SNOOFY

Exactly. Morons elect anti-government idiots into government the mission "to prove government is inefficient". So they do everything they can to prevent effective governing.

If the government was run like a [modern public] business, we'd essentially be a technocracy.

#34 | Posted by IndianaJones at 2018-01-09 06:18 PM | Reply

Nazi sympathizer Jeffry calling someone else a troll, somehow I think the irony of that will be lost on you Jeffry. Time for your bad bowl cut, and don't be late to your goose stepping classes.

#35 | Posted by aborted_monson at 2018-01-09 07:09 PM | Reply | Newsworthy 1

Now Monson chimes in. A poor man's troll. You rival Frankf55 with how unfunny you are. Your "jokes" and insults are so lame they are cringe-inducing. It's like looking at a used tampon.

#36 | Posted by JeffJ at 2018-01-09 07:27 PM | Reply

It's like looking at a used tampon.

I know but you can't turn your eyes because of how intriguing it is ,if only it could talk and tell the places it's been and the adventures it had.

You sir are the new Longfellow.

#37 | Posted by bruceaz at 2018-01-09 07:54 PM | Reply | Funny: 1

Great response, Bruce.

Seriously. I'm debating between NW and FF. I'm going with FF.

#38 | Posted by JeffJ at 2018-01-09 07:56 PM | Reply

Thanks Jeff, I got the point you were making, but damn,lol.

#39 | Posted by bruceaz at 2018-01-09 08:15 PM | Reply

Notice to Everyone: You don't lay off a worker unless you don't need a worker.

#40 | Posted by madbomber at 2018-01-10 01:33 PM | Reply

Notice to Everyone: You don't lay off a worker unless you don't need a worker.

#40 | POSTED BY MADBOMBER AT 2018-01-10 01:33 PM | REPLY

But you think they hire workers because they got a tax cut.

If a company needs 50 workers to do the work no amount of tax cutting will make them hire a 51st employee

#41 | Posted by hatter5183 at 2018-01-10 02:21 PM | Reply

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