Today I leaned that "due diligence" = "crystal ball"
Welfare reform in Maine
- Thread starter LDB
- Start date
paullud
Veteran Expediter
Yes that is right. Companies get sued by stock holders for bad business decisions. It's actually pretty common that very expensive class action lawsuits are brought against companies for many reasons.
http://legalnewsline.com/issues/cl...made-sensors-in-iphone-6-sued-by-stockholder
paullud
Veteran Expediter
So if they were completely perfect and never made a mistake by opening a store in those places where would those people be working? Maybe no job at all? Wal-Mart? There are no victims in this and the stores being there provided lots of jobs from building the site to the day it closes.
Really, you know better then that. A Company has an obligation to do right by their shareholders, and try to turn a profit.
What I really find interesting is that the answer to fixing a broke individual and family welfare system. That over the last couple of generations has grown from a helping hand, to a culture of dependency. Is to blame a company that wants to shift 2% of its stores worldwide.
But, Using it to keep from talking about Maine or any other states right to try and fix something that we all agree is broken, just does a disservice to those that truly need help. If you want talk about the need to reform the corp tax code, yes the list of topics is both long and I'm sure would be a lively discussion.
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So what your saying is you always take the perfect load, always choose the most profitable route and never make bad decisions? Come on Cheri we all big and small make bad decisions. Do you know those stores were never profitable, that the area metrics didn't change, that competition didn't move in across the street diluting profits?
Has anybody ever seen an area that used to be a great area and has really gone downhill over the last couple of decades? Probably not. None of us have ever driven through a whole whole bunch of those in numerous cities around the country. Just leads us back to that awful Walgreen's (fill in any business name) should keep every location open forever losing whatever they lose by doing so. It's very unlikely Walgreen's is closing stores just a few years old. I suspect they did their due diligence and made good decisions at the time they made them. It's the intervening years, and often the local people, who have made the changes, not poor decisions or lack of planning. It's just easier to automatically blame businesses though. Occupy seems to have been more influential than some might have thought.
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There is a lot of competition in the 'drug store' market. Plenty of it coming from bigger stores such as Walmart and Meijer, to name a couple. I rarely go into a Walgreens, CVS, or a Rite Aid anymore. The prices are too high for other items in the store. I equate these stores like I do when someone buys things at a truck stop or from a gas station. You buy gas at a competitive price, but over pay for other things there. IMO these drug stores use the same pricing model. That is, a customer comes in for a prescription or medicine, and then pays through the nose for other things in the store. Dollar stores have gained in popularity and you can find similar items there. There is no reason that I would go into those drug stores unless there is a specific item I couldn't find elsewhere. The economy has played a large role too. With less money in the pockets of individuals, many of them will be looking for the best/ cheapest deal. Plenty of options other than from traditional drug stores, which IMO has played a role in Walgreens closing stores.
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I would agree with what is mentioned. The typical business doesn't plan to fail but external changes often are the reason. Could be competition, change is state or local tax structure, demographics change, all the way to lease issues. Many of these type of stores actually lease the location. So what was good years ago, has now suddenly changed. No different than Target in Canada. Competition, rise in wages and taxes forced them to shut down. Same with Sears and Kmart up there.
On a side note, most would want these companies to do their best and respond to market conditions. The libs love to trash business but they fail to realize that these companies also have a responsibility to shareholders as mentioned. Have to remember, the ordinary person has money invested in these companies whether through a pension or possibly a 401k retirement. It is not just limited to a CEO that some think is evil because he is making a six or seven figure income. Have to look at ALL of the picture, not just the parts you want to see.
On a side note, most would want these companies to do their best and respond to market conditions. The libs love to trash business but they fail to realize that these companies also have a responsibility to shareholders as mentioned. Have to remember, the ordinary person has money invested in these companies whether through a pension or possibly a 401k retirement. It is not just limited to a CEO that some think is evil because he is making a six or seven figure income. Have to look at ALL of the picture, not just the parts you want to see.
paullud
Veteran Expediter
Umm...I'm but sure on the other 3 but truckers don't pay anywhere near 28%.
You paid too much.
Of course they have an obligation to do right by their shareholders, but that doesn't cancel out all the other obligations, ie: employees and community. The simple change from "stakeholders" [everyone invested in success] to "shareholder" says it all: profit is not just the most important factor in decisions, it's the only factor.
Which leads directly to the number of people who need government assistance to eat, because their wages don't cover it, even working 2 jobs. And wages haven't been rising along with profits and productivity [as they used to, and ought to], because: profit. Enough is never enough, must have more profits, then more than that, too!
The system that's broken is the one that rewards CEOs for outsourcing jobs, and keeping labor costs to the bare minimum. What they're doing is socializing the costs [to taxpayers] and privitizing the profits, and it is morally indefensible.
And worst of all, they have people blaming the victims of their greed, and praising their "success".
America used to be better than that. Labor built this country, and it was respected - not anymore.