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Showing posts from May, 2002

On Stanley Works moving to Bermuda

I note that James Maloney and his peers are upset about Stanley Works reincorporating offshore ("Maloney Rips Stanley for Relocating Abroad, May 19, 2002 CT Post), even going so far as to compare the corporation to the infamous Benedict Arnold. I suggest that Maloney and his fellow legislators stop blaming others and take a look inward to find the reasons - and solutions - for that relocation. Stanley is a for-profit corporation. It has a responsibility to its shareholders - especially those among the working class - to produce a profit. Without that profit the shareholders lose their investments, and not only are large financial investors (such as the mutual funds in which much of our individual 401k and pension plans are invested) affected, individual shareholders, such as Stanley employees, would be hurt as well. With the profligate tax levels to which our legislators are becoming accustomed, most corporations are starting to see those profits quickly dwindling,