Linked by Thom Holwerda on Fri 24th Jan 2014 10:22 UTC
In the News

In early 2005, as demand for Silicon Valley engineers began booming, Apple's Steve Jobs sealed a secret and illegal pact with Google's Eric Schmidt to artificially push their workers wages lower by agreeing not to recruit each other's employees, sharing wage scale information, and punishing violators. On February 27, 2005, Bill Campbell, a member of Apple's board of directors and senior advisor to Google, emailed Jobs to confirm that Eric Schmidt "got directly involved and firmly stopped all efforts to recruit anyone from Apple."

Later that year, Schmidt instructed his Sr VP for Business Operation Shona Brown to keep the pact a secret and only share information "verbally, since I don't want to create a paper trail over which we can be sued later?"

This is why I always smile whenever I hear a pundit claim his or her pet company "does no evil" or has "moral standards". Companies are guided by one thing, and one thing alone: money. They have no morals. They have no moral compass. We see evidence of this every single day - whether it's poor working conditions in low-wage countries, scummy tax evasion techniques, or stuff like this, which is essentially robbing hard-working people of their money.

It's important to note, though, that the way companies work in our society has also been a major factor in the development of our wealth, luxury, and scientific progress; so no, it's not all bad. However, I do wish companies would stop spouting the obvious nonsense that they "do no evil" or have "moral standards", when it's clear to everyone with more than two brain cells to rub together that that's just a bunch of marketing bullshit. I really feel for the people that actually believe that nonsense.

Of course, the criminals responsible for the illegal behaviour described in the article should be put behind bars. Sadly, that won't happen.

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Not Surprising AT ALL
by hackus on Fri 24th Jan 2014 18:58 UTC
hackus
Member since:
2006-06-28

This has been going on for a long time, way before 2000.

In my opinion we do not have a free market any more.

Look at the distribution of companies to market share. A handful of people control almost the entire market. Now normally when this happens in the past, laws would kick and break up the market again.

Well, those laws have been shut off (illegally) to prevent what is now going to happen.

Or should I say markets?

Every sector: Food, Tech, Banking etc.

It has been consolidated into the hands of the few and people are surprised it is ALL RIGGED?

The entire banking sector for example should all be put in prison.

You know, I find it amazing these people are labled as "brilliant", "innovative" etc. when they form monopolies between themselves and effectively eliminate any competition.

I would also like to point out, that with the economic wealth and power structure we currently have in the USA, we no longer have a free market economy.

We now have a very much Soviet era type of planned economy. I say that on the basis that if you look at the real numbers since the banks collapsed in 2007, there hasn't been any growth.

Paper money is distributed now to corporations from the Federal Reserve in planned amounts through the stock market.

This will eventually not end well for all of you reading this.

-Hack

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