Companies should provide the bottom line to employees!

Since this year brought in a recession and the economy has been the topic of conversation lately I began to think about why companies lie and cover up facts about the company to employees.
I started my theory that companies should by law have to give employees information about the company on a quarterly bases.
I was pointed from some one whom I was discussing this subject with that you can research some information on a company if it has stock that is publicly traded.
My reply was that many companies are small business owners and not required to provide employees with any information about the company or themselves by law.
Think about it just for a moment what your employer knows about you, or even if your just applying for a job the type of information that you give out.
First of all you give your name, phone number, address, e-mail, social security, education background, employment history, personal and professional references, and sometimes jobs require dmv, credit and criminal background checks as well.
When hired did the owner come in and give you any information about themselves?
What do you really know about your company or the person or people that own it?
Small business owners take a lot of risk in opening and operating a business, but not all people are good at managing and keeping the business a float.
Owners should be required by law to send out a quarterly statement of the company operation cost and what the company is making. Yes I know you business owners are going to scream at me. I think most people would want to know that the job they have is secure in these times, who needs to show up to work everyday wondering if they will have a job that day.
I only say this because in my experience this has happened several times in places I was employed. The company was being sold, or going out of business, closing the doors but they lied to all the employees all they way till the end. I never really understood why they did this.
I was told they did not want employees to quit.
Yet if they had been truthful about the situation maybe the employees would have stayed till the end. It would have given them time to look for other jobs, get training in another career.
The more I thought about it it became clear to me that small business owners should be required by law to release information relating to the company to employees.

The Outlaw Micheal Tomsik