Despite United Technologies’ rhetoric, it is not a company that needs to cut costs “for the long term competitive nature of the business.” I believe that a set of money managers, already members of the .01%, are demanding that profits rise in order to drive up the stock, so that their own incomes will increase. Top managers in the company go along with this plan because their compensation is also tied to that rise in stock price and because they will lose their jobs if they don’t deliver on it. This is a forced wealth reallocation from one set of stakeholders in the company to another.
