You're half right... https://www.pewresearch.org/politics/2021/11/09/beyond-red-vs-blue-the-political-typology-2/
No, you are only uneducated if Kroger is your example of price gouging while posting record profit $ with the same profit margin. Did consumers buy more groceries and cook more at home last year?
My guy I'm not about to engage with someone who has unquestioningly swallowed capitalist propaganda while calling it "education"
I'm basically center-left now that the Dems flip-flopped to a "fund the police" platform. We are like brothers.
How does a neoliberal party maintaining the same position it has always taken have anything to do with where your ideologies fall on the political spectrum
Bernie/Warren, whose top message is "relieve student debt for college graduates and attendees", and saying they cater to the uneducated is quite the analysis.
"The Economic Roundtable, a nonprofit research group that surveyed more than 10,000 Kroger workers in Washington, Colorado and Southern California about their working conditions for a report commissioned by four units of the food workers union, found that about 75 percent of Kroger workers said they were food insecure, meaning they lacked consistent access to enough food for an active, healthy life. About 14 percent said they were homeless or had been homeless in the previous year, and 63 percent said they did not earn enough money to pay for basic expenses every month." "Kroger has one of the country’s starkest gaps between a chief executive’s compensation and that of the median employee. Rodney McMullen, Kroger’s chief executive since 2014, earned $22.4 million in 2020, while the median employee earned $24,617 — a ratio of 909 to 1. The average C.E.O.-to-worker pay ratio in the S&P 500 is 299 to 1, with grocery chains like Costco (193 to 1) and Publix (153 to 1) lower than that." Business Booms at Kroger-Owned Grocery Stores, but Workers Are Left Behind - The New York Times (nytimes.com) life would be so much easier to be as stupid as these guys
You're original splash into this whole debate was asking how Biden had the audacity to ask companies to raise wages and stop raising prices to maximize profits while the country is recovering. I believe you asked how that was possible with inflation and costs going through the roof, so this is one example of one company in a massively important industry raising prices to maximize profits. It's going to take a lot of companies in a lot of industries to slow down the price increases everyone is feeling, that's all POTUS was trying to pick at. It's, at best, insanely naive to think huge companies are simply at the mercy of inflation and adjusting proportionally.
Good thing they closed all those stores so they could make more money HtownTide ! https://www.theguardian.com/us-news/2021/mar/26/krogers-us-supermarket-chain-stores-closed-layoffs
Congrats, you just passed Econ 202 It's almost like modern economic theory isn't as much of a study in sociological behaviors of humans in a monetary setting and more of a "here is the way we want people to think and spend"
Y’all are all assuming more education makes people more learned. What my theory presupposes is, what if it doesn’t?
Do you understand the difference between price hikes due to increased costs and price gauging? If so I am confused as to why you would post this article as evidence of something sinister. They simply passed along inflated costs to customers. This isnt price gauging.
Kroger is also trying to make up for massive losses by increasing their prices. My company sells $6 million of product to Kroger stores a year. Their in store sales are the worst in class and their ARP has increased the most of any of the major national chains we deal with. They are ran by Ohioans, so of course they are terribly operated.
My original post was based on Biden saying companies such as Kroger, should simply “reduce costs” despite exactly what we are talking about here: inflated inputs (aka costs). Its just not that easy it seems like posters in here are suggesting that they should have just incurred the increased costs at the expense of their profitability. How someone can rationalize that in a non-communist or socialist economy is beyond me
A) grocery delivery isn’t profitable, so this profit number is even less than where it would be without their investments, or less money for employees and more return to shareholders B) the investment made in their dark store delivery facilities further ate away at profit and shareholder return All in all, the profit number is very, very low due to accounting benefits and product expansions.
It is if you aren't obsessed with perpetual profit growth at the expense of literally everything else on Earth
Hopefully they keep the price of shoe polish down so you don’t take a loss licking them. If you don’t think passing costs along to people during a time where people are struggling due to a once in a lifetime pandemic is ok and the cost of operating while still recording record profits, I guess I’ll just let you carry the water of billion dollar corporations. Kroger ran ads talking about how much they value the community and understands what’s going on and value their essential workers, then raised prices and cut out their extra money for essential workers, but sure, carry that goddamn water.
Is there any alternatives for the mega corporations (the ones employing the most people + servicing the most consumers) to just passing on the increased costs to the consumer? or are we always operating under the assumption that corporations are operating at full efficiency on their costs
no they don’t but when they reduce operating costs they rarely if ever pass on the savings, and when costs increase they raise prices. Also haven’t you ever seen the office? If they lower expenses they’ll buy a copier
Just jumping in to say that if I see "gauging" instead of "gouging" one more time I'm going to lose my shit.
wish Ralphs/Kroger brand consistency was a bit stronger for a CEO whose value added is north of $20,000,000
I give up. I didnt come in here voluntarily hoping to “boolick” for Kroger or any other company. I couldnt care less about them. I readily offered up that there are plenty of examples of corporate greed out there, but this is a pretty poor one. Some guy tagged me with a terribly misguided Tweet about Kroger as evidence of corporate greed. I now realize that Im not getting anywhere with people that expect that a 3% profit margin business has the ability to simply eat these increased costs and stay in business and that think that simply passing these costs along is price gauging. You guys carry on. Ill see myself out.
skipped all of yalls posts about grocery stores just wanted to drop in and say that while i'm not a biden stan i am thankful that there are actually adults in charge right now. and most of them care more about the country than themselves
You do know that with publicly traded companies their books are public correct? https://www.macrotrends.net/stocks/charts/KR/kroger/financial-statements
Hey man, they have to raise costs because supply prices are going up, no other reason. Forget he got a 45% raise DURING THE PANDEMIC! How else are they going to cover that?
lol Former Trump State Dept. spokesperson draws laughter in failure to get a single question right Morgan Ortagus, a former State Department spokesperson under Mike Pompeo, wants to be a congresswoman in Tennessee’s 5th District. The problem is, she knows less than nothing about the district she’s running in. When Ortagus showed up to Nashville’s talk radio show on 1510 WLAC for an interview Monday, host Michael Patrick Leahy asked if she’d be up for a game of “Taking the Fifth.” What followed was a total shit show, revealing that the congressional wannabe Barbie was clueless about the district she says she wants to run. Spoiler Leahy began with a simple question, asking Ortagus to name the three highways that ran through the district. “I’m a terrible driver,” she said laughing. “I don’t know that. I don’t drive anywhere that I go.” Okay … Then Leahy asked her to name the multi-Grammy Award-winning country music singer who owns a popular winery in the district. She attempted to dodge the question saying, “I have been to that winery. It’s great—I love that winery. I bought some wine.” Leahy pushed on asking her to name the singer who owns the winery. She admitted to having no idea, but added that she’d gone there and had “a picnic outside,” and it “was beautiful.” The answer is Kix Brooks, a country music artist, actor, and film producer best known for being one half of the duo Brooks & Dunn and host of radio's American Country Countdown. Leahy then asked her who Brig. Gen. Robert Reese Neyland was, to which she plead the fifth. Neyland was a legendary football player and coach in the U.S. Army and served three stints as the head football coach at the University of Tennessee. There’s even a stadium in Tennessee named after him. Leahy attempted to go to what should have been Ortagus’ strong suit, politics, but that was an apparent failure as well. When she was asked to name the four previous Republican governors who are still living in Tennessee, she said: “Well, let’s see. All four of them. No. I know Lee and Haslam. I met with Haslam right after I moved here. What a nice guy. And then, of course, I’ve met Governor Lee,” Ortagus said. The correct answer is Don Sundquist, Lamar Alexander, and Winifield Dunn. Leahy then switched topics again, hoping to give the Biden-basher another chance to get at least one answer right. But no chance. ”One of the most famous NASCAR drivers living today lives in the 5th District and has a large auto dealership in Franklin. Who is that,” Leahy asked. To which she answered: “My husband is the car guy. He used to race. He knows all of the racing stuff.” The answer is Darrell Waltrip. In one final hope, Leahy asked her again about the political history of her state. “Who was the only Tennessee governor who ever served time in prison for crimes committed while in office?” he asked, giving her the hint that the man was a Democrat, a well-known Confederate general, one whose name and history have been a source of enormous controversy in Tennessee the last few years and who was born and raised in the community of Chapel Hill, in the 5th district. But, alas, Ortagus did not know. The answer is Nathan Bedford Forrest, who was not just any Confederate general, but the first Grand Wizard of the Ku Klux Klan from 1867 to 1869. Before the war, Forrest amassed substantial wealth as a cotton plantation owner, horse and cattle trader, real estate broker, and slave trader. The last question was probably the most embarrassing of them all. Leahy asked her to name the county Chapel Hill is in. Again, she did not know. “Marshall County. It’s in your district,” Leahy said. And that my friend is the Republican Party in a nutshell. Ortagus is running against incumbent Democrat Rep. Jim Cooper, who announced his retirement after more than 32 years in Congress as the current district will be dismantled. Ortagus has been running on her “concern” over immigration and the U.S.-Mexico border. “You see a border that he [Biden] has absolutely no control of. It’s a major national security issue. You see inflation over 7.5%. You see people like my neighbors, people who live in the 5th Congressional District in Tennessee, who are making really hard choices about getting a full tank of gas or getting a full cart of groceries. It shouldn’t be that way in America.” Ortagus served during the Bush administration in the United States Agency for International Development (USAID) and was posted to Baghdad. She served as a spokesperson for the USAID in 2017 and later worked as an intelligence analyst for the Treasury Department. While in Baghdad she began exploring Judaism and eventually converted. “I just had a sense of it really touching me in a way that religion had not in a very, very long time,” Ortagus told Jewish Insider. Following the service, which was held in a U.S. Army trailer, attendees ate a “kosher-ish” meal at the chow hall. “I don’t think we ever had any challah, but we definitely had some rolls,” she said. She has said that she got her job as an intelligence analyst at the Treasury Department while “at a bar.” Despite her lack of experience, she was hired. “You may not be the smartest, you may not be the most accomplished, you may not be the best looking; you may not be any of these things, but no matter what, I will outwork you,” she told Jewish Insider. Well, at least part of that statement is correct.