Companies flush with cash but aren't hiring. So what are they doing with all that loot? Buying other companies which results in the layoffs of yet more workers. Who needs two of everything when they can all be replaced with temps? Can't quit afford buying out your competitor? Then just buy back your shares to raise your stock price. That'll look good at the next annual shareholders' meeting.
Tesoro gets fined 2.4 million dollars for the fire that killed workers. The cheap Texas company bought the refinery located at Anacortes,Wa. from Shell in 2005 didn't bother to inspect the equipment they purchased or do regular inspections. They were sited with 39 willful violations that resulted in the fine. $2.4 million may sound like a lot of money until you consider Tesoro makes over $28 billion per year.
I have more but I need to head over to Mad Mikes and check out my latest post. Nothing like having your name in lights.