From The Angry Economist, "Media Concentration":
I will go out on an economical limb and say that a corporation never makes a "profit". Everything that comes into a company is owed to someone. Perhaps it's not paid out immediately, but no matter, an identifiable individual owns every bit of money. Employees get their salaries, salesmen get their commissions, suppliers get their accounts payables, banks get their interest, founders get their entrepreneurial income.
Friday, August 29, 2003
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