Elsewhere.... Caught on Tape: CEOs Boast About Raising Prices

I get it companies have to make a profit, and will always look at for maximizing said profits, but to hear it discussed so flippantly. Especially during these trying economic times for so many.

No doubt this goes on all the time and Ive seen it occur in my industry, not even sure it requires a solution except it's good that's public knowledge.

I buy from Kroger, not sure if I will continue after this, same with Autozone. Its almost like when I heard all the profits Amazon was getting it made me just shop Ebay or elsewhere. Sure it costs more but at least it may get to somebody who needs it and isn't just soaking in the increased prices just because they can

This is the idea of Government intervention that seeks
to dictate how much profit a business can earn.

In selling I've yet to meet anyone that does not seek to
earn as much profit as possible. Is that wrong?

originally posted by: MrBlaq
This is the idea of Government intervention that seeks
to dictate how much profit a business can earn.

In selling I've yet to meet anyone that does not seek to
earn as much profit as possible. Is that wrong?

Yes, that's covered in the OP, and where did I even suggest government intervention? All I'm suggesting is individual knowledge of their thoughts on the recession and how it affects thier pricing. Its no different than seeing a company charge double or more for cc fees or double or more for shipping and those that pay attention not buy from them anymore

In other words, be a knowledgeable consumer, if it doesn't bother you that's fine keep buying from them.

originally posted by: MrBlaq
In selling I've yet to meet anyone that does not seek to
earn as much profit as possible. Is that wrong?

It depends.

If they take into account that people have been having difficulties and can still make money, making more money because people do not have enough information and, in consequence, making life for those people worse is, to me and from a whole society point of view, wrong.

But as it's not illegal they can do it.

It's not illegal also to boycott those companies that are caught doing that, so I hope as many people as possible know about this and do it.

a reply to: putnam6

one thing that happens when something nationally happens with pricing due to shortage, supply or what have you. they go up and the claim is wat ever caused it and they say prices will go back down.

thing is they may go down some , but they never go back to what they were when the reason for the increase is gone. even if the supply is more than abundant.

a reply to: putnam6

Price gouging, cartels and other exploitative market practices are illegal.

Have the CEO's in the video been identified? Are they operating a cartel? Is there price fixing going on?

a reply to: putnam6

Just boycott those companies you don't like. Competitors will arise with better prices.


Whatever happens, NO price controls by governments


History PROVES those NEVER work and make everything WORSE

originally posted by: M5xaz
a reply to: putnam6

Just boycott those companies you don't like. Competitors will arise with better prices.


Whatever happens, NO price controls by governments


History PROVES those NEVER work and make everything WORSE

Exactly never said a word about governmental price controls

but it's why it needs to be pointed out over and over those that who will gouge us everywhere they can don't support that mentality.

The agony and torment these individuals will experience is beyond our conception.

Make the item with cheap crap and sell for more.
"The New American Way"
Somebody , somewhere , will buy it .
PROFIT MARGIN BABY .
Look good for investors and we can have their money .

When were these recordings made?

Personally, I didn't hear anything outlandish. Acknowledging that whatever conditions were helping increase their bottom line......

I think if there's an argument to be brought to the table, there needs to be more data.

originally posted by: putnam6

originally posted by: M5xaz
a reply to: putnam6

Just boycott those companies you don't like. Competitors will arise with better prices.


Whatever happens, NO price controls by governments


History PROVES those NEVER work and make everything WORSE

Exactly never said a word about governmental price controls

but it's why it needs to be pointed out over and over those that who will gouge us everywhere they can don't support that mentality.

Depends.

Sometimes companies react pretty quick when enough pressure is applied, for example PayPal dropped it's Orwellian "wrong think" $2500 fine system, which would have gouged us of $2500 buck for each instance of wrongthink, money which PayPal would have kept for themselves to boot.

Public pressure does work

a reply to: putnam6

I work for Amazon on my off days from my main job (as an aside, the pay for my medical professional position requiring 4-6 years of schooling is nearly identical, I really need to make a thread regarding that) and all I can really say is Amazon, unless you are looking for something incredibly specific or hard to find in stores, is useless aside from the convenience of it. Or, you know, getting cheap Chinese manufactured crap instead of a slightly pricier alternative.

Every day I'm there, I watch my drivers scramble to load their vans as quickly as possible with crap that can be bought from any number of stores locally for (generally) far less money. One example would be Fiji water. I just did a quick check and to buy the packages I see being loaded onto nearly every van daily it's $2 less at Target and $4 less at Walmart.

Another is pet supplies. For some reason people (including a dog daycare down the road from me NEXT DOOR to a locally owned pet supply store) love to buy one specific 50lb bag of dog food. It's $75 on Amazon. At that pet store I mentioned, it's $57. I'm sure it's even cheaper elsewhere.

Hell, the other day we were short staffed and I went out to help some of the drivers that were falling behind. I ended up delivering SEVEN HUNDRED AND FIFTY POUNDS of fresh step cat litter to one house. The owner met me outside and told me what a great deal Amazon had during a sale and told me the sale price. I don't remember exactly what it was per box but I did check later on and it was right around 20% cheaper for the same thing at Walmart - not on sale, just normal price.

Same with things like Instacart. Sure, it makes things easier. You're most definitely going to pay a premium for it though. Also, before anyone says something about the elderly/disabled people that can't get these kinds of heavy things from the store... I've yet to encounter one. 99% of the time it's just perfectly able bodied people being lazy or in the affluent areas not wanting to lower themselves to slumming it by going to Walmart or Target.

Either way, this is no surprise. Nothing will be done about it because virtually no one wants to inconvenience themselves with store trips and when they do they're too lazy/stupid/apathetic to actually take a stand and boycott anything. That takes effort.

originally posted by: Magnivea
a reply to: putnam6

I work for Amazon on my off days from my main job (as an aside, the pay for my medical professional position requiring 4-6 years of schooling is nearly identical, I really need to make a thread regarding that) and all I can really say is Amazon, unless you are looking for something incredibly specific or hard to find in stores, is useless aside from the convenience of it. Or, you know, getting cheap Chinese manufactured crap instead of a slightly pricier alternative.

Every day I'm there, I watch my drivers scramble to load their vans as quickly as possible with crap that can be bought from any number of stores locally for (generally) far less money. One example would be Fiji water. I just did a quick check and to buy the packages I see being loaded onto nearly every van daily it's $2 less at Target and $4 less at Walmart.

Another is pet supplies. For some reason people (including a dog daycare down the road from me NEXT DOOR to a locally owned pet supply store) love to buy one specific 50lb bag of dog food. It's $75 on Amazon. At that pet store I mentioned, it's $57. I'm sure it's even cheaper elsewhere.

Hell, the other day we were short staffed and I went out to help some of the drivers that were falling behind. I ended up delivering SEVEN HUNDRED AND FIFTY POUNDS of fresh step cat litter to one house. The owner met me outside and told me what a great deal Amazon had during a sale and told me the sale price. I don't remember exactly what it was per box but I did check later on and it was right around 20% cheaper for the same thing at Walmart - not on sale, just normal price.

Same with things like Instacart. Sure, it makes things easier. You're most definitely going to pay a premium for it though. Also, before anyone says something about the elderly/disabled people that can't get these kinds of heavy things from the store... I've yet to encounter one. 99% of the time it's just perfectly able bodied people being lazy or in the affluent areas not wanting to lower themselves to slumming it by going to Walmart or Target.

Either way, this is no surprise. Nothing will be done about it because virtually no one wants to inconvenience themselves with store trips and when they do they're too lazy/stupid/apathetic to actually take a stand and boycott anything. That takes effort.

Yea I believe that too. Ive got a love-hate relationship with Amazon.

originally posted by: StoutBroux
When were these recordings made?

Personally, I didn't hear anything outlandish. Acknowledging that whatever conditions were helping increase their bottom line......

I think if there's an argument to be brought to the table, there needs to be more data.

I don't doubt it's normal corporate speak, Ive heard corporate bosses over the years say the same sort of terminology. Ive also seen long-term customers drop a company completely because of overcharging on fees and handling, like lots of them in a relatively short time.

LOL but that was then and this is now. Why should I buy from Kroger or Autozone when I don't have to, and Ive learned something that semi-pisses me off a bit. Sure Aldi's and OReilly's CEO likely say the same stuff, but once I hear them I'll go elsewhere too, it really is the only control an individual has.

If we lived in a true free market, this of course could not happen.

We don't live in one and never did. Anyone that tells you is lying. A free market would not have produced Amazon/Walmart/Google/Facebook.

Monopolies were created with the help of the government and the ruling elite.

originally posted by: putnam6
I buy from Kroger, not sure if I will continue after this

One year ago I stopped shopping at Kroger. And before that, I had been a 30+ year customer. Here's why. The last time I shopped there, they had eggs for $1.29 a dozen. Next to them, the very same eggs, were on sale, .99 cents for a dozen and a half. Who wouldn't want 6 extra eggs for .30 cents cheaper? When I was checking out, the woman at the cash register said I had to use my cell-phone in order to get the sale price; that that was the only way. I don't have a cell-phone, so I sqawked to speak to the manager. The manager came and eventually I was able to convince them to give me the sale price without having a cell-phone. But, they said they wouldn't do that next time. I didn't have to worry about the "next time" because I never went back.

We all know what they're doing with the cell-phones. Cell-phones can be tracked and they want everyone to have one. I'll pass. I never had to keep up with the Jones like 'most everybody else.

But, like you were saying, sure I put up with their practices to price gouge. Sometimes you have to. But, I'm not putting up with it any longer; not with them. One month, (I do all my grocery shopping at one time, less trips, saves money), they (Kroger) had the large "party" size bag of M&Ms priced at $8.99 per bag. The very next month I went back and they were on sale, "new lower price," and the price was $10.99. I asked the lady at the register, "how is $10.99 lower than $8.99?" She just shrugged her shoulders. Too much apathy and greed these days.

To quote The Osmonds, "It's gotta be the last days."


TCB

a reply to: ArMaP

It depends.

If they take into account that people have been having difficulties and can still make money, making more money because people do not have enough information and, in consequence, making life for those people worse is, to me and from a whole society point of view, wrong.

But as it's not illegal they can do it.

It's not illegal also to boycott those companies that are caught doing that, so I hope as many people as possible know about this and do it

Basically you're stating they are making money due to consumers ignorance.
Ignorance is a personal choice. Seems to me personal responsibility
to get and stay educated might help.

It's not a business priority to find out if consumers are
having difficulties. It's their priority to find out if
a product or service is marketable. You are assuming
the few poor people should outweigh those who
can afford to purchase.

People who feel helpless or obligated might feel they need
to boycott a business.

But guess what? You always have a choice.

You can choose to buy a farm and live like the Amish or
Mennonites. You can even join a Mennonite community
and never have to purchase from the evil profit-making
business owners.

Just one last point. Most people are poor because they
misuse their time. Too much time enjoying entertainment,
or some frivolous activity that does not lead to earning
greater wealth. I've heard this debate many times,
and it always resolves around poor people not taking
enough responsibility to get ahead in life.

How much time do people spend on this Forum
every week? Do you think that time could be spent
learning how to earn greater wealth?

They would rather complain.

originally posted by: MrBlaq
How much time do people spend on this Forum every week? Do you think that time could be spent learning how to earn greater wealth?

Interesting concepts.

Just curious, but how much did you earn during that post?

originally posted by: MrBlaq
This is the idea of Government intervention that seeks
to dictate how much profit a business can earn.

In selling I've yet to meet anyone that does not seek to
earn as much profit as possible. Is that wrong?

When the government is a profit sharer I doubt any intervention will come. Amazon, Google, Twitter, Walmart the list goes on. What ever happen to monopoly laws? I guess they went away with the power of the president back in the 40's. Shame on us...