Today the Teamsters and American workers face a moment of reckoning. The time has come where people must stand up and say enough is enough to companies that seek to take advantage of employees and taxpayers.
This isn't enough to stop the veiled talk that he's still the sworn enemy of business. But this talk can't scrub away the fact that Obama and Democratic presidents have been far better friends of big business than GOP presidents have ever been.
For people who were blown away to learn recently that the 11 largest global pharmaceutical companies made an astonishing $711 billion in profits over the last decade, here's another measure of the industry's greed.
Shareholder season is upon us, marking the beginning of another round of corporate America's dog-and-pony shows held to placate their cronies and pat each other on the back for another profitable year.
The rich snicker as the vast majority of Americans are so distracted they don't focus on record corporate profits, on record low corporate tax payments or on lobbyists buying tax breaks for corporations and loopholes for offshore accounts.
Starting in 2008 the government began to bail out the crumbling asset bubble known as the real estate market, which also benefited the financial sector of the economy. This was accomplished by simply doubling down on the same philosophy that created the bubble in the first place.
Private manufacturing companies in Sageworks' database have an average net profit margin of 6.5 percent, according to current estimates for 2012. That compares with an average net profit margin of just over 5 percent in 2011 and a recessionary low average of 2.7 percent in 2009.