I came across this is little story today, it's not breaking news. I suspect that a member of the housekeeping staff knows something about the bomb threat that required the sweep for weapons.
According to police in Secaucus, the bomb threat — which later was determined to be bogus — was called in to Hudson Regional Hospital on July 18. During a search, bomb detection dogs led investigators to an unlocked office closet containing dozens of firearms.
Among the weapons were 11 handguns and 27 rifles or shotguns, according to police. The closet also contained a .45 caliber semi-automatic rifle with a high-capacity magazine that was determined to be an assault rifle, and a 14-round high-capacity handgun magazine.
The arrested the guy the next day.
What the heck do you think this guy was doing? It sounds very ominous that he was keeping those weapons there.
These are interesting times. Corporations are experiencing some of the highest levels of profit margins in 70 years in some cases.
One the one hand, say I make widgets and have 1,000 to sell and 5,000 people really want them and are willing to pay more to get them, I'm going to make a huge profit. I could keep the price low and just go "first come, first serve" but that's not how a good business would operate. A good business would maximize that profit if there is a demand. What they do with that profit is their business.
What follows might be that I need to increase widget production to meet the demand, but I don't have enough workers and those I have want more pay and wages go up, inflation has hit my business as well and costs are going up so now I have to keep prices high.
It's a complicated situation. There doesn't seem to be a consensus among experts. I can't say I would agree with "taking away profits" but I also say I necessarily feel the need to do them any favors and tax cuts for certain income brackets should be rescinded but we've been down that rabbit hole.
Yup you got it. But what they’re doing is they’re still raising the prices. They figure people need to work so somebody’s gonna do it without me having to pay my workers too much more and they’re taking that risk and winning. Yea they’ll lose people but then they’ll hire some others at the same rate or lower then offer incentives and such and then when profits are good they’ll let some go. Sure they’ll be a demand for more workers later, sure conditions will be dismal but then they’ll bring in some others offer incentive and when the profits are good … see where I’m going ….
People need to work. And when you’re just working most of the time you’re not thinking
Yup you got it. But what they’re doing is they’re still raising the prices. They figure people need to work so somebody’s gonna do it without me having to pay my workers too much more and they’re taking that risk and winning. Yea they’ll lose people but then they’ll hire some others at the same rate or lower then offer incentives and such and then when profits are good they’ll let some go. Sure they’ll be a demand for more workers later, sure conditions will be dismal but then they’ll bring in some others offer incentive and when the profits are good … see where I’m going ….
People need to work. And when you’re just working most of the time you’re not thinking
I honestly don't see where you're going.
Yes they are still raising prices but prices rose 0.4% during the month of October. The bad news was that it was 7.7% higher than a year ago. The good news is that 7.7% is lower than expected.
There is a strong labor market and employers are being squeezed by "the great resignation" or even the "quiet resignation" where disgruntled employees do the bare minimum. So hiring workers isn't as easy as you imply. We have a minimum wage of $15 an hour where I work and people are still not showing up for work when they don't want to and know they can get another job in a day.
Businesses are paying more for goods and services as well as labor so not all of it is "let's just raise prices for no good reason to make profits".
The bad news is that most of what I'm reading is that inflation will be with us for a painfully longer amount of time.
I think this conversation started with "Yes, corporations benefit from services that my taxes provide, so I think they should help pay for them. Take Amazon, for example. They did a great deal of building in Seattle, displaced affordable housing, pushed up housing costs due to demand for workers, and worsened traffic." which really doesn't mention it as the number one example of a company that is price gouging. Price gouging isn't mentioned.
If thats the example that comes to one's mind, I'll assume that is the best one they have. And, price gouging was mentioned earlier in the conversation:
"Areyou saying a middle income family deserves to be price gouged so that an imaginary retiree won’t lose stock value? Last I heard, stocks carry risk."
As a side note, I thought of you when I read the last part of that as you've often said your concerned about your retirement funds that depend a lot on the stock market. I guess you're "imaginary" ?
5 hours ago, Tweety said:
I live in Florida where we don't elect Democrats so I'm not sure which Democrats are brainwashing people.
I don't consider you one of the "brainwashed". I was speaking of those whose default setting is that corporations are evil, without a clue about anything such as what real profit margins are, taxes they pay, and things they actually do for their employees and communities.
5 hours ago, Tweety said:
There was a lawsuit that alleged Amazon of price gouging during the covid lockdown.
They are also currently being sued for keeping prices "artificially high".
I hadn't heard of this, but will look into it more.
It stings to read about high corporate profits while we're paying high prices for just about everything.
It stings for sure. But in a different way.
First of all, I thought corporations were already were doing everything in their means to maximize profits? They should be, imo. But, I know that way of doing business bothers the big biz is evil folks.
Now, those same folks think that big biz found a new way to be more evil? And, that was simply to raise prices? As if they didn't already charge as much as they can to make the most profit they can?
No, that's not how it works. They can't charge more than what there is a market for and maximize their profits. It's supply and demand. Big spending bills have artificially increased demand, which in turn has increased prices.
First of all, I thought corporations were already were doing everything in their means to maximize profits? They should be, imo. But, I know that way of doing business bothers the big biz is evil folks.
Now, those same folks think that big biz found a new way to be more evil? And, that was simply to raise prices? As if they didn't already charge as much as they can to make the most profit they can?
No, that's not how it works. They can't charge more than what there is a market for and maximize their profits. It's supply and demand. Big spending bills have artificially increased demand, which in turn has increased prices.
I'm only relating to how the general public feels paying high prices and reading about high corporate profits. And yes, the "big business is evil folks" have something to hang on to. As do the "Biden's policies are destroying the country" folks.
We've had discussions about the effects of spending packages on inflation and that's only part of what is causing worldwide recession but I can agree it's supply and demand. For example I really fail to see how the spending packages have raised rents here, a big reason why my area has some of the worst inflation in the country, but I'll look into it.
This is what I found about rents: supply and demand post pandemic. Not government spending packages.
Quote
‘Simple economics’ behind soaring rents
Central Florida’s Gulf Coast has become a prime relocation destination, with Tampa ranking behind only Miami and Phoenix as the top U.S. cities where people want to move, according to a homebuyer migration report the real estate company Redfin released last week.
Housing experts say the population influx was driven by Florida’s loose pandemic restrictions and a shift to remote work, as well as the lure of lower taxes and a warmer climate.
I wanted to back up what I said about us having one of the worst inflation rates and we are listed fourth in this recent article, which by the way I concede says "Thanks to a strong job market and generous federal stimulus, consumers are in spending mode," Daniel Roccato, a clinical professor of finance at the University of San Diego, told Newsweek. "But while demand for goods and services is up across the board, supply has not kept pace. Add in a horrific war and supply chain issues and you get global inflation." But unlike you lists other causes.
I also wanted to back up what I said about rents being a big driver of inflation here.
Quote
For the Tampa area, which includes St. Petersburg and Clearwater in the BLS statistics, the big price drivers were shelter and gas utility costs, aside from the changes to prices of food.
If thats the example that comes to one's mind, I'll assume that is the best one they have. And, price gouging was mentioned earlier in the conversation:
"Areyou saying a middle income family deserves to be price gouged so that an imaginary retiree won’t lose stock value? Last I heard, stocks carry risk."
As a side note, I thought of you when I read the last part of that as you've often said your concerned about your retirement funds that depend a lot on the stock market. I guess you're "imaginary" ?
I don't consider you one of the "brainwashed". I was speaking of those whose default setting is that corporations are evil, without a clue about anything such as what real profit margins are, taxes they pay, and things they actually do for their employees and communities.
I hadn't heard of this, but will look into it more.
Okay thanks for clarifying then. I just didn't see where it was mentioned that Amazon was the #1 price gouger.
The "imaginary retiree" didn't make much sense so I let that go. But as a 63 year old whose retirement funds have dropped a tremendous amount, yes I am concerned. I don't have a choice. Pensions were dropped years ago and if I wanted to retire I had to invest.
I'm concerned at the years to my working life this will add (good thing I'm healthy), and I'm concerned that inflation will make the amount not go as far.
I think inflation is real and has multiple causes but price gouging isn't one of them. Even if there were price gouging it certainly hasn't done much for the stock market, so again it doesn't make sense so I'll let it go.
Yes they are still raising prices but prices rose 0.4% during the month of October. The bad news was that it was 7.7% higher than a year ago. The good news is that 7.7% is lower than expected.
There is a strong labor market and employers are being squeezed by "the great resignation" or even the "quiet resignation" where disgruntled employees do the bare minimum. So hiring workers isn't as easy as you imply. We have a minimum wage of $15 an hour where I work and people are still not showing up for work when they don't want to and know they can get another job in a day.
Businesses are paying more for goods and services as well as labor so not all of it is "let's just raise prices for no good reason to make profits".
The bad news is that most of what I'm reading is that inflation will be with us for a painfully longer amount of time.
And the more money people spend, the more the flames with be fanned. Don't buy stuff you don't really need, don't take expensive vacations. Let's help Ukraine win and get this war over. There's not really much more we can do. America trade is so dependent on bad player countries who cheaply make more plastic disposable crap, that we are affected by their economic issues. We also need a lot less people on the planet keeping war and poverty a forever proposition. That's not good for anyone's economy.
Amazon paid employees to get the vaccine. And employees who got it were also entered to win prizes, such as vacation packages, cars, and cash.
And, instead of simply having employees show proof of having received it, Amazon sponsored vaccine clinics. They had the vaccine brought on site, paid a contractor to run the clinics, and gave employees time off of their job to get it.
And, hopefully you saw the other links I provided about many other things Amazon does for employees and the communities they are in. So, you didn't answer my question...what else do you thing they should be doing?
By quarter last year, rounded up: 8%, 7%, 3%, 11%
This year, they were in the negative the first two quarters, and a profit margin of 2.26% in the 3rd.
You using Amazon as your number 1 example of a company who is price gouging to rake in record profits while badly treating their employees and communities shows how brainwashed you've been by the elected Democrats you support.
Amazon is planning to lay of 10,000 people, so there.
I would also add that increased demand and better profits also often come from a better widget, and more efficient process of producing the widget.
Why should the company that invested into making the better widget pay a windfall tax over their inferior competition?
Because if what you’re saying stands, with a better widget and a more efficient process yes you will have increased demand and the right to charge people more so you also have an increase in profits, hence (some) money for redistribution.
Plus you most likely piggybacked off the inferior companies idea. So Yea give up the goods.
And the more money people spend, the more the flames with be fanned. Don't buy stuff you don't really need, don't take expensive vacations. Let's help Ukraine win and get this war over. There's not really much more we can do. America trade is so dependent on bad player countries who cheaply make more plastic disposable crap, that we are affected by their economic issues. We also need a lot less people on the planet keeping war and poverty a forever proposition. That's not good for anyone's economy.
That's a double edged sword as demand decreases, inflation will ease, profits will decline and layoffs (see above mentioning of Amazon laying off 10,000 employees) will happen or at least hiring will soften some. The stock market won't be happy.
I admit to being part of the post-pandemic spending spree. I made good money during the 2020 and 2021 and didn't spend it much then. I just remodeled one of my bathrooms at great expense and with the easing of covid restrictions I'm traveling outside the country next week for the first time since pre-pandemic times. I go to the movies in theaters more, concerts, restaurants more.
We had a good Summer season here. A lot of the visitors were Floridians because of gas prices not wanting to travel too far.
I am going to have to tighten my belt some though as the pandemic earned money is spent, and I'm not working overtime, and inflation, especially in home and car insurance here in Florida, as well as essentials, is taking a bite.
Because if what you’re saying stands, with a better widget and a more efficient process yes you will have increased demand and the right to charge people more so you also have an increase in profits, hence (some) money for redistribution.
Plus you most likely piggybacked off the inferior companies idea. So Yea give up the goods.
The highlighted part really is a presumption that makes no sense. In the situation Beerman describes the company is using its own profits to invest in itself through product development and improvement.
Of course there are examples of companies piggybacking off another product and making a better. product. The Japanese were very good at this in the 80's. iPhones are widely copied and I use the copycat Samsung. But that's not the point.
I'm all for the corporate tax and as profits go up so do their taxes. This however is a theory not always in practice.
Quote
The current United States tax code allows some of the biggest company names in the country to not pay any federal corporate income tax.
In fact, at least 55 of the largest corporations in America paid no federal corporate income taxes on their 2020 profits, according to the Institute on Taxation and Economic Policy. The companies include names like Whirlpool, FedEx, Nike, HP and Salesforce.
“If a large, very profitable company isn’t paying the federal income tax, then we have a real fairness problem on our hands,” Matthew Gardner, a senior fellow at the Institute on Taxation and Economic Policy (ITEP), told CNBC.
Specializes in NICU, PICU, Transport, L&D, Hospice.
Lisa Murkowski is leading her republican opponent by about 1,700 votes now. Republicans in Alaska really don't like ranked choice voting. Sarah Palin has vowed to repeal that law now that she feels victimized by it. Apparently Tom Cotton thinks that it's a way to "rig elections"...LOL
HiddenAngels
1,087 Posts
Yup you got it. But what they’re doing is they’re still raising the prices. They figure people need to work so somebody’s gonna do it without me having to pay my workers too much more and they’re taking that risk and winning. Yea they’ll lose people but then they’ll hire some others at the same rate or lower then offer incentives and such and then when profits are good they’ll let some go. Sure they’ll be a demand for more workers later, sure conditions will be dismal but then they’ll bring in some others offer incentive and when the profits are good … see where I’m going ….
People need to work. And when you’re just working most of the time you’re not thinking