Economy

[txswinner]

Exxon post record profits during raw material shortage.<br /><br />Jurors selected in Enron trial.<br /><br />Continental flight attendants give up benefits.<br /><br />Dell hires 5000 more in India.<br /><br />Kraft Foods, nations largest food manufacturer, eliminates 8000 jobs 8% of workforce.<br /><br />Someone please explain to me again why the American Economic system is doing great, please.

 

[salty87]

Re: Economy

let's see...record profits, enron trial has nothing to do with economy, unions are recognizing that they can't rape entire sectors of the economy without facing the repercusions, DELL's earnings will be re-patriated back to the US, Kraft elminating costs.<br /><br />it adds up to me. <br /><br />what some people refuse to accept is that a company making a profit is better than a company that pays great benefits but can't stay in business.<br /><br />businesses are in the business of making money. and before you go off an exxon's profits...how much gas did you buy? name 1 raw material (although pteroleum is processed, not raw) that's in bigger demand.

 

[kenimpzoom]

Re: Economy

Stupid media will never make this a headline.<br /><br />"Thousands hired at new jobs"<br />"Company XYZ on hiring binge"<br /><br />Stop reading the headlines and think!<br /><br />There is only one problem with the economy. People must except lower wages in a manufacturing job. Otherwise, their job will be moved overseas.<br /><br />Ken

 

[txswinner]

Re: Economy

Lower wages. Let us see. <br /><br />Exxon highest profit in history. Where do the profits go.<br /><br />New Refinery--infrastructure for US jobs NOOOO<br /><br />Wage increases for workers NOOOOOOO<br /><br />Benefits for employees NOOOOOOOOO<br /><br />Dividends for stock holders NOOOOOOOOOO<br /><br />Bonuses for upper management YESSSSSSSSSS<br /><br />This is not good for economy. 8 homes, 6 cars, paper market investments, huge non-flowing wealth is not a growth asset.<br /><br />For economy in capitalistic society to work their must be a large consumer class. Greenspan said this best when he described the rapid spread between the haves and have nots as detrimental to our economy as we have known it in the past.<br /><br />This statement was made by perhaps the most powerful controller of economy in the world.<br /><br />We have 45 million people without healthcare benefits. This no longer folks on welfare this is the white collar and blue collar labor force.<br /><br />When labor can no longer buy gasoline, cars, homes, new appliances we will see increasing job loss then down goes the whole economy. 1929 was not a very good year.<br /><br />Don't give me the go somewhere else c...p. This in my country and my family has served it well both in labor and in military. I come from a long line of good Americans. So don't attack me personally, explain why this is not true.

 

[dogsdad]

Re: Economy

Txs, I think you are right about the fact that there must be a middle class with spending power to have a healthy economy, but that's as far as it goes.<br /><br />You guys who think it's just the people working manufacturing jobs that have to take a pay cut are in for a rude surprise. It may take a while, but it's coming to your neighborhood too. It's about trade agreements that have put us in more or less direct competition with labor in countries where there is no freedom. That is not capitalism, that is manipulation through legislation for special interests.<br /><br />Txs, you seem to have to throw the health-care issue into the mix. If you think that government intervention or funding of health care is some kind of solution, then you're way out in left field. That's L-E-F-T field.

 

[kenimpzoom]

Re: Economy

Hmm...<br /><br />Do you work for Exxon? Do you know for a fact that every employees doesnt get a bonus? Many oil companies have bonus plans that give large bonuses based on profits.<br /><br />Why dont the stockholders get dividends???? (I am really confused on this one).<br /><br />Why does the rich people owning the wealth scare you? Do they put the money in their matress and eat bread and water? Nope, the go right around and SPEND that money or invest it.<br /><br />Again, I say THINK!<br /><br />Ken

 

[JB]

Re: Economy

What shortage, txs? There is no shortage of petroleum, just high prices. The "shortage" is only fear about future supply.<br /><br />Oil companies do not set the price of the raw material, they pay it. They then charge for the finished product what they must to make profit.<br /><br />If you spend $100 BILLION dollars in a quarter $10 billion is a fair gross profit. What gives you the idea there will be no dividend?

 

[aspeck]

Re: Economy

Let's see,<br /><br />1. In our area, unemployment is at its lowest that I can remember (going back 20+ years)<br /><br />2. Several new businesses opening, creating even more jobs<br /><br />3. Several businesses are expanding into our area - creating more jobs<br /><br />Gee, maybe that is why Wally World opened a new store here today. I gotta go see what they got on sale, spend some money, and help the economy! See ya!

 

[jinx]

Re: Economy

My county currently has an unemployment rate of less than 1%. <br /><br />Actually, that causes a whole host of problems too.<br /><br />Jinx

 

[deputydawg]

Re: Economy

Problem with most peoples thinking is they hold to too small of a window.<br /><br />Employers will pay what they can afford.<br />Employers will not pay what their employees are worth. In many cases people won't work that cheap.<br /><br />If minumum wage, or any wage for that matter, goes up...where does that money come from? The corperate heads pockets? NO, us the end consumer. Wages increase then that company ups their prices to stay in business. So the raise in wages is offset by cost. A real help to the economy would be to drop the expected wages. In time, if people could survive long enough, prices for goods and services would come down.(in theory)<br /><br />Industry here where I live is dying. Tourism is keeping this town alive. The town is trying to bring in business, but they do not want any business that will compete with the local businesses already here. Factories have been invited here to build, but the city won't assist them in setting up like all other cities will do. On top of that everyone around here that complains about the economy, nobody wants to work.

 

[txswinner]

Re: Economy

Ken, What was the last dividend paid on a share of Exxon stock. Divide that by the price per share at that time and it will give you the earnings you have made as a risk taker on that company. <br /><br />How do I know about profits. I can read and you should try. It is a publicly traded company, all you need to do is read their financials. <br /><br />From your past threads you show great disdain for the media and blame much on their reporting. Maybe you should read something else.

 

[salty87]

Re: Economy

Originally posted by deputydawg:<br />...Employers will not pay what their employees are worth. In many cases people won't work that cheap...

ah yes, then there's the other troll about illegal aliens. lets shut the border and see how much that helps the economy.<br /><br />i'm not sure if i know any non-illegals that are even willing to get on a roof anymore much less build a house for what people are willing to pay.

 

[txswinner]

Re: Economy

JB, Want to make a friendly wager that the dividends will not be the highest % ever paid on a publicly traded stock.

 

[PW2]

Re: Economy

Dividends high? Low? Who cares if you are a shareholder. Profits not paid out to stockholders are called "retained earnings" and add to the value of the stock.<br /><br />What's the difference???

 

[PW2]

Re: Economy

Do you folks really think we can just opt out of the global economy???<br /><br />And do you really think we can arrogantly impose our specific values on the rest of the world?<br /><br />Thank heaven none of you are making economic decisions for this country!!!

 

[txswinner]

Re: Economy

PW2, That is what we used to call them and for Arthur Andersen type accounting that is still true. A better name though is money to be spent on upper management. Difference is that it is really theft by those who have risked nothing. They should be paid for their work value to the stockholders (remember the whole owner thing from high school eco.) and not bonuses from profits, isn't that their job afterall.<br /><br />Take a look PW2 at where the retained earnings go vs. where they should go. Realize that even American Airlines management gets bonuses.

 

[QC]

Re: Economy

Originally posted by PW2:<br /> Do you folks really think we can just opt out of the global economy???

I don't.<br /><br />

Originally posted by PW2:<br /> And do you really think we can arrogantly impose our specific values on the rest of the world?

The only one I care about is the don't murder value. And, YES, I hope we DO impose that value on the rest of the world, arrogantly or otherwise.<br /><br />

Originally posted by PW2:<br /> Thank heaven none of you are making economic decisions for this country!!!

We all are . . . It's called buying stuff.

 

[txswinner]

Re: Economy

If you want to grow our country's economy, how about considering the following:<br /><br />1. Break up corporations that are so big they dictate cost. ie Exxon Mobile, Microsoft<br /><br />2. Put controls on Upper Management incomes and require complete disclosure of all income from Publically traded corporations.<br /><br />3. Consider a cap on Upper Manager salaries vs. average worker income in Publically traded corporations.<br /><br />4. Heavy import taxes on some items such as autos, computer parts, steel, plastic etc. with restrictions on companies to raise prices hiding behind the imports.<br /><br />5. Controls on cost of medical procedures and drugs. Reasonable is ok, todays cost are ridiculous. I have another plan here as well.<br /><br />6. Pay punitive judgements into a fund giving only a small amount to the plaintiff, the rest into some type of social fund.<br /><br />These would get the ball rolling. I am not pro-government but we must rein in government control by money from these giant conglomerates before it is too late.

 

[Elmer Fudge]

Re: Economy

Originally posted by PW2:<br /> Do you folks really think we can just opt out of the global economy???<br /><br />And do you really think we can arrogantly impose our specific values on the rest of the world?<br /><br />Thank heaven none of you are making economic decisions for this country!!!

I don't think that anyone is saying to opt out of the global economy.<br />What i will say is this lets adopt trade policies that are consistent with a level playing field.<br />Perhaps we ought to do like the south koreans, when one of their citizens purchase a foreign made vehicle they are subjected to an audit by their inland revenue department.<br />this is just one of the many obsticles that are employed by our various trading partners.

 

[ufm82]

Re: Economy

Instead of jumping up and down about the economy and looking stupid, you'd better check the facts. Kraft is downsizing 20 plants, one in Australia and one in Alabama. It's due to Americans spending MORE money in restaurants and convenience stores than at the supermarket. (That's GOOD for the economy.) When markets change, the companies need to change with them or they go belly up. Are you still running kerosene lamps in your house and using chamberpots? Why do you expect a business to stagnate and never change? <br /><br /> As stated above many times, the economy is just fine. In fact, if you actually read the reports, you'll find that it is VERY healthy. Don't let you hatred of Bush cloud your vision. <br /><br />2006 is predicted to be a banner year in my business and I can't wait. <br /><br />UFM82