Would you consider "free money" to be all the grants and PPP loans myself and my clients received? One restaurant client of mine got almost $100k of this money, not bad for a business that has 5 employees.
John Deere strike imminent?
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Would you consider "free money" to be all the grants and PPP loans myself and my clients received? One restaurant client of mine got almost $100k of this money, not bad for a business that has 5 employees.
It’s easy to say this but we have no idea what that would look like in our current system.
Ag is very cyclical as well. They can't make an agreement based on on the last 18 months. They just can't.
The purpose of unemployment insurance is to fill a short gap while someone transitions from one job to another, not to fund someone long term because they don't want to work.
And the former employer pays for it.
From my understanding is stock buy backs used to be illegal. Companies still could buy up shares if they really wanted to but there was a more formal process that ensured it wasn’t abused. They’ve been legal my entire life though so I don’t know for sure.
Buy backs just add to the nature of the stock market as being a giant casino. The primary driving force on share price is trading in today’s day and age. The entire principle of the stock market is to invest long term. We need to figure out how to get back to that time.
I have a hard time feeling bad for the ag industry, considering how much of it is held up by government in some way. Feel about as bad for corporate ag as I do for the oil industry. JD can afford this change just fine, they're in no shortage of funding lately.
However, JD still doesn't make money if they don't have their labor, and they don't exactly have leverage lately to replace that workforce out of nowhere. Surely the Union knows this. That's mainly why I would think JD would want to be done with this negotiation quickly. They're going to profit a lot more over a "bad" deal for themselves than they are over multiple months of near-zero production.
I sure as heck wouldn't want to buy a machine that was assembled by those white collar workers!
What is their total hourly compensation package? Surely at least 30 isn't it? They probably still do better than most non-union guys making in the mid to high 20's.
I mean I guess we'll see. If they are going to stick on a 30-40% raise it's going to last a very a long time.
Someone mentioned this earlier, and my co-workers brother is at that facility and confirmed, is that there have been so many supply problems with parts that having a major slowdown or shut down for a couple months probably isn't the end of the world while they try to stock up on parts. It doesn't give JD leverage, but it buys them time to negotiate. So they don't have to blink quite yet.
Fair question.
Our business got some too. We also only got basically what covered payroll, and we didn't let anyone go despite a 75% revenue drop. I think the amount we got that ended up paid out as payroll was not free money to our business; essentially it was unemployment benefits at a higher rate paid out through the employer. Because we did have to do something to get that money (ie pay it out) and we WOULD have let some people go if that hadn't happened. But the amount that went to interest and utilities etc was indeed "free money".
FWIW, I am still undecided if helicopter money on businesses via PPP was a good idea or not. The thinking that covid was short term but severe, and maintaining business and employment stability was worth the cost, it made sense to me. Time will tell, I suppose.
It look likes the crap is coming from you...
Look likes the crap is coming from you...
Yes you lied. Thank you for admitting so. You tried to pass an imaginary anecdote as real evidence.
If humans are still in charge, there will still be greed and corruption and all the bad things.
Maybe if you inflation indexed capital gains tax, or made short term cap gains tax higher and long term cap gains tax much lower? Maybe that would drive both longer term corporate thinking as well as investor behavior. IDK.
In case you haven't figured it out yet, your style of blowhard shaming generally doesn't work here...
Like everything. Capitalism is the worst economic system, except for all the others.
At least in capitalism private business (and individuals) has some power to stand up to government power. Look what happens when the same people control the levers of power of both government and business. Nothing good. Corruption at best, totalitarianism at worst.
EDIT - 6 minutes for a self-bump on your question? Give me a break... I'm getting back to work. I just enjoy the policy / economic / history discussion; when it stays out of the political shouting, which is hard on the internet.
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