Big Businesses Raked In Profits During Pandemic.
Despite a dour economy for large swaths of America, large corporations and their C-Suite executives did wonderfully. (Washington Post)
“With few exceptions, big businesses are having a very different year from most of the country. Between April and September, one of the most tumultuous economic stretches in modern history, 45 of the 50 most valuable publicly traded U.S. companies turned a profit, a Washington Post analysis found.
Despite their success, at least 27 of the 50 largest firms held layoffs this year, collectively cutting more than 100,000 workers, The Post found.”
The two Americas, consisting of have and have nots, inhabit two completely different universes. The pandemic has expanded the wrenching disparity to the business world as well. So many small businesses are now boarded up never to return, leaving a wake of misery and despair. Large corporations have never done better which is exacerbating the income and prosperity divide in a nation already bitterly separated over politics. America has little chance of being truly united in the near future with our differences now very entrenched.
