Profits VS Savings

[Even Steven]

I have seen business's make a good go of it with happy employees and good customer service. I would actually list Kal Tire and Walmart in that bunch.

I like Kal Tire, they do provide a great service and have happy employees. They also charge A LOT for their service.

[Even Steven]

I admit I shop at Walmart and Superstore but I prefer not to most of the time. I guess I am lucky that I can afford to have a choice.

Costco is a good place. I hear they treat their employees nicely and are also a profitable company (I actually own some of their stock). But you can't ask Loblaws to be like Costco since they're in different businesses and are not comparable.

[The Green Barbarian]

So what you are actually saying is that greed controls how these companies treat their customers and employees. You have to admit that is a sad situation. Wouldn't it be nice if somehow we could get to a place where investors, customers and employees could all be treated fairly.
.

Yes, it would be nice. And greed does control a lot of how these companies are run, can't really deny that. You should watch the movie "the Big Short" sometime. The ratings agencies were giving out AAA ratings on bonds they knew were complete dirt. But they couldn't give out less than a AAA because they would lose business. Steve Carell's character in the movie says to the rating agency person: "You can afford to make less, so make less". A lot of companies could afford to make less. Walmart could afford to make less too, and pay their employees more. There is no perfect system.

[Smurf]

I agree Kal tire is on the high end but I like their service. I like dealing with happy employees as I feel I get better service which is important to me, especially with things like my vehicles. I also like Costco, especially their pharmacy which is well priced.

[kques]

I read just last week that the major banks are hoping to increase their automation by up to 70% over the next few years causing a reduction in the workforce of up to 30%. Just don't know where all these people will find new jobs. Nothing against bank tellers but I'm sure someone who has been doing that for 10 or 15 years won't be able to just retrain and become a tech expert. I guess the US might be hiring some farm workers (ooops, that's another thread)

[Even Steven]

Just don't know where all these people will find new jobs.

There are always new jobs being created and jobs going the way of the Dodo bird. At some point we had lamp lighters, ice cutters, barbers, milkmen, pin setters at bowling alleys, switchboard operators, etc. They all had jobs, and their jobs disappeared. They all found new jobs. That's called evolution of the marketplace.

[Smurf]

Are you saying we shouldn't be miffed about all the jobs we are loosing to China and elsewhere because there will always be new ones.

[Even Steven]

Are you saying we shouldn't be miffed about all the jobs we are loosing to China and elsewhere because there will always be new ones.

We're shipping bank tellers jobs to China?

[kques]

Just don't know where all these people will find new jobs.

There are always new jobs being created and jobs going the way of the Dodo bird. At some point we had lamp lighters, ice cutters, barbers, milkmen, pin setters at bowling alleys, switchboard operators, etc. They all had jobs, and their jobs disappeared. They all found new jobs. That's called evolution of the marketplace.

Lol.. yea there were probably a handful of lamp lighters and 30% of the banking industry is thousands and thousands of people so that's the same.

[kques]

I hate to be the purveyor of doom and gloom but winter is coming. With personal debt accumulating at record levels and this "extreme" corporate greed putting profits above all else and filling their pockets while sending employees to the unemployment line, something has to give and it will, history shows it will, tic toc..

[Ken7]

Every company that has shareholders, those shareholders want biggest return they can get. So answer your question, profits are never big enough.

Anyone & everyone who invests looking for best return on their investment, is essential wanting companies to have ever bigger profits.

You are correct, funny thing is it's good business to show profit. Sadly, at the hands of 3rd world countries and the sweat shops they run there.

However, chances are the one who started this thread likely doesn't buy only CANADIAN made as you can't anymore due to lack of support and low profit margins.

[Smurf]

Even Steven wrote:

We're shipping bank tellers jobs to China?

No but we are loosing jobs there. Is loosing jobs to layoff any different than sending them overseas. It is usually to make more profits and causes the same disruption in peoples lives. The companies will claim it is to stay competitive but is almost always end up with a large increase in profits. No more job is no more job no matter how it happens.

I have to agree it is getting harder and harder to find made in Canada and more expensive but when I see the quality of a lot of the trash that is coming in over the docks it is usually worth the hunt and the cost.

[krocky]

According to the Conference Board of Canada, the telecom sector has been bringing in about $7 billion annually in profit over the past five years. These companies have the money to hire Canadians at a fair wage, but they prefer to add to their profit margin by sending jobs offshore. Telus pays its entry-level workers in the Philippines between $278 and $348 a month, which is less than a fifth of the full-time minimum wage in Ontario. Additionally, employment regulations in these countries are generally weak and the right to collective bargaining flimsy at best.

Just one example..

[TylerM4]

I read an interesting article about a year ago. Wish I could find it.

Basically saying that TFSA hasn't worked out as government had intended. The intention was for lower and middle income families to benefit. But statistics show it's mostly being used by higher income and wealthy folks.

[lesliepaul]

Worked for a large Canadian transportation company for 38 years and in its well over 100 plus years of existence it NEVER lost a nickel. I remember many years ago sitting in on one of the companies "raw, raw" lectures from management and hearing how tough it is to run such a company and the expenses incurred to keep it running in a profitable fashion. I absolutely agreed with everything stated until it came to the part about what the company makes at the end of the day. As mentioned earlier, this company MAKES money EVERY year. The example that was given to us was........."in 1993 we had a profit of $875 MILLION, BUT........in 1994 our profit was ONLY $675 MILLION.........we LOST $200 MILLION". The key word here is LOST, even though a huge profit was made, it was less than the year before.

The bottom line here is that if a company does not EXCEED previous years profit, they see it as a loss.........what they want are RECORD PROFITS EVERY YEAR or they are failing to satisfy the share holders. This is PURE GREED........never satisfied with success........"we have to wring out more at any cost".