4 votes

Google, Apple, Intel, Adobe, Ebay & Other Silicon Valley CEOs Conspire to Drive Down Engineers’ Wages

After reading this article, I'd like to open up discussion on how this situation would be different in a completely free market and also dispel the idea that this IS the true free market.

http://pando.com/2014/01/23/the-techtopus-how-silicon-valley...

In early 2005, as demand for Silicon Valley engineers began booming, Apple’s Steve Jobs sealed a secret and illegal pact with Google’s Eric Schmidt to artificially push their workers wages lower by agreeing not to recruit each other’s employees, sharing wage scale information, and punishing violators. On February 27, 2005, Bill Campbell, a member of Apple’s board of directors and senior advisor to Google, emailed Jobs to confirm that Eric Schmidt “got directly involved and firmly stopped all efforts to recruit anyone from Apple.”

Later that year, Schmidt instructed his Sr VP for Business Operation Shona Brown to keep the pact a secret and only share information “verbally, since I don’t want to create a paper trail over which we can be sued later?”

These secret conversations and agreements between some of the biggest names in Silicon Valley were first exposed in a Department of Justice antitrust investigation launched by the Obama Administration in 2010. That DOJ suit became the basis of a class action lawsuit filed on behalf of over 100,000 tech employees whose wages were artificially lowered — an estimated $9 billion effectively stolen by the high-flying companies from their workers to pad company earnings — in the second half of the 2000s. Last week, the 9th Circuit Court of Appeals denied attempts by Apple, Google, Intel, and Adobe to have the lawsuit tossed, and gave final approval for the class action suit to go forward. A jury trial date has been set for May 27 in San Jose, before US District Court judge Lucy Koh, who presided over the Samsung-Apple patent suit.

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The tech companies in silicon

The tech companies in silicon valley are not the only ones in existance. If they decide not to pay as much as somewhere else, the people will find a new job. Let me say, anyone in a technical field that has something like 10 years of experience(give or take a few) is in high demand.

To climb the mountain, you must believe you can.

Yep...

Labor would either break off and start their own company, or find a better job where they are paid what they feel they are worth.

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why the workers could

why the workers could organize in a free society and bargain collectively - in this example there would be a real reason to do so.

if treated with respect and paid well for their work most employees do not see the value in give a cut of their wages away. If companies acted like this in a free market then labor would respond.

Not saying this is a good response or a poor response by labor it is just one of the first I imagine

peAce

Liberty = Responsibility

Competition is

good but this is not competition if they conspire to hold down wages.

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

Should companies...

Should companies be able to enter into contracts with each other? Should companies be able to pick and choose who they hire and what wages to pay?

I'm just playing devil's advocate to try to get to the root of the issue.

I'm not quite sure what to think about this. I think in a free market, there would be no Corporations who are granted limited liability by the State, but other than that, it seems companies might collude like this.

The question is, how would a free society deal with this type of collusion?

I'm a serial entrepreneur and liberty activist from Texas!

www.RevolutionCarBadges.com
www.NonNetwork.com

bump for the morning crowd

Thoughts?

I'm a serial entrepreneur and liberty activist from Texas!

www.RevolutionCarBadges.com
www.NonNetwork.com