Companies post record profits

Originally posted by ANOK

Originally posted by boncho
Just take a look at some of the public companies that have been driven into the ground post continuous losses because they are paid for by the government, through taxes of the people. If the government has shown us anything in the last 100 years, its how they are adept at mismanaging money.

There is no system incorruptible or that hasn't been exploited. But you missed the point I was making anyways...

I agree with you, I do not support public companies. Socialism is not public companies, it is workers common ownership.

What point did I miss?

I was actually speaking about publicly owned companies. Government run companies. Although the same could apply to publicly traded companies.

Socialist companies are not impervious to corruption or mismanagement. They can be far worse in some situations.

Jarden Corporation is a leading provider of a diverse range of consumer products with a portfolio of over 100 trusted, quality brands sold globally. Jarden operates in three primary business segments through a number of well recognized brands. Headquartered in Rye, N.Y., Jarden ranks #371 on the Fortune 500 and has over 23,000 employees worldwide.

So who are these guys?

These are the guys selling you "brand name" crap made in china

We deal with their warranty issues every day

In April 1993, Ball Corporation spun off its canning business as a new company called Alltrista Corporation. In May 2002, Alltrista changed its name to Jarden Corporation. The spin-off retained the trademarks to the names Kerr, Ball, and Bernardin. [1]

In April 2002, Jarden Corporation acquired Tilia International, Inc. for approximately $160 million, which included the Foodsaver® Brand. In February 2003, Jarden purchased substantially all of the assets of Diamond Brands, Incorporated and Diamond Brands Operating Corp, (formerly Diamond Match) for approximately $108 million. Trademarks acquired included Diamond® and Forster®. In September 2003, Jarden acquired Lehigh Consumer Products Corporation for approximately $155 million. Trademarks acquired included Crawford®, Lehigh®, and Leslie-Locke®.

In March 2004, Jarden acquired Loew-Cornell, a maker of brushes and other arts and crafts supplies. In June 2004, Jarden bought a 75% stake in privately held The United States Playing Card Company, and in October 2004 it purchased the remaining 25%. Trademarked brands acquired included Bee®, Bicycle, Aviator®, and Hoyle®. The purchase price was approximately $240 million.

In January 2005, Jarden acquired American Household, Inc, for approximately $845 million. The corporation owned the Coleman Company, and Sunbeam Products, Inc. Brands acquired as part of this acquisition were Coleman®, Campingaz®, First Alert®, BRK®, Sunbeam®, Health o meter®, Mr. Coffee®, and Oster®. For background, in March 1998, Sunbeam Corporation acquired the The Coleman Company, Inc. and Coleman Powermate. In December 2002, Sunbeam Corporation filed Chapter 11 bankruptcy and canceled its common stock. When it emerged from bankruptcy, Sunbeam changed its name to American Household, Inc., a privately held company.

In July 2005, Jarden acquired The Holmes Group, Inc., a manufacturer and distributor of select home environment and small kitchen electrics, for approximately $420 million in cash and approximately 6.2 million shares of Jarden common stock. Brands acquired included Holmes®, Rival®, Crock-Pot®, Seal-a-Meal®, Bionaire®, Patton® and White Mountain®.

In August 2006, Jarden acquired Pine Mountain firelogs and firestarters from Conros Corporation for approximately $150 million.

In August 2007, Jarden acquired K2 Inc. for approximately US$ 1.2 billion. K2 included brands such as Adio®, ExOfficio®, JT Sports®, Marker®, Marmot®, Penn®, Rawlings®, Ride®, Sevylor®, Shakespeare®, Stearns®, Völkl®, Worth® and Miken® under its umbrella. Jarden also acquired Pure Fishing, Inc. in April of 2007 for approximately $400 million, which included the Abu-Garcia®, Berkeley®, Gulp!®, Mitchell®, Stren®and Trilene® brands, among others.

In April 2010, Jarden acquired the Mapa Spontex Baby Care and Home Care businesses for a total value, including debt assumed and/or repaid, of approximately $415 million. The business acquired included brands such as Fiona®, First Essentials®, Lillo®, NUK® and Tigex®, Mapa, and Spontex, among others. Later in 2010, Jarden acquired Quickie Manufacturing Corporation and Aero Products International, Inc. Brands acquired in these two transactions included Quickie Original®, Quickie Home-Pro®, Quickie Professional®, Quickie Microban®, Quickie Green Cleaning®, Aero®, Aerobed®, and Aero Sport®, among others.

even though sales are down they have made more profit

Jarden Reports Third Quarter Results




Third Quarter Cash Flow from Operations of over $75M


Adjusted Diluted Earnings per Share Increased 14% in the Third Quarter


RYE, N.Y., Oct. 24, 2012 /PRNewswire/ -- Jarden Corporation (NYSE: JAH) today reported its financial results for the three and nine months ended September 30, 2012.

For the three months ended September 30, 2012:
Reported net sales were $1.71 billion compared to $1.78 billion, for the same period in 2011;
Organic net sales declined 1.8% or $32 million;
Gross margin increased 40 basis points to 29.4% compared to gross margin of 29.0%, for the same period in 2011;
Adjusted gross margin increased 80 basis points to 30.0% compared to adjusted gross margin of 29.2%, for the same period in 2011;
Diluted earnings per share declined 3% to $1.00 per diluted share compared to $1.03 per diluted share, for the same period in 2011; and
Adjusted diluted earnings per share increased 14% to $1.35 per diluted share compared to $1.18 per diluted share, for the same period in 2011.

For the nine months ended September 30, 2012:
Reported net sales were $4.88 billion compared to $4.94 billion, for the same period in 2011;
Organic net sales grew 1.5% or $73 million;
Gross margin increased 80 basis points to 29.1% compared to gross margin of 28.3%, for the same period in 2011;
Adjusted gross margin increased 80 basis points to 29.3% compared to adjusted gross margin of 28.5%, for the same period in 2011;
Diluted earnings per share increased approximately 19% to $2.45 per diluted share compared to $2.06 per diluted share, for the same period in 2011; and
Adjusted diluted earnings per share increased approximately 18% to $2.91 per diluted share compared to $2.46 per diluted share, for the same period in 2011.

this is done by going back to the chinese factories and demanding lower cost per unit

Walmart is well know for having a table full of prospective manufactures all bidding to build items for them at a measly 3% profit

Also when power is out the factories fire up coal buring generators and actually lose money on that shift (power outage occur regularily)

This is why quality of product sucks, the factory accepts the lowball offer then they have to cut corners in an attempt to make a little profit off the deal.

Originally posted by boncho
I was actually speaking about publicly owned companies. Government run companies. Although the same could apply to publicly traded companies.

Socialist companies are not impervious to corruption or mismanagement. They can be far worse in some situations.

I still don't see the point I missed.

What socialist companies are you talking about? What corruption? You are just making a blanket statement based on nothing.

Capitalism, itself is a corrupt economic system, not just capitalist companies. Capitalism was formed in corruption. It was formed when private owners had the laws changed to benefit themselves. It's not a system we asked for, it was forced on us. They didn't have to revolt they just made new laws. The 'inclosure acts', that forced the people off the land where they used to live and work autonomously from any private owners of the means to produce.

Why defend such a corrupt system? Because you have been conditioned to.

reply to post by ANOK

Canada Post did something unusual last year. It lost money.

After 16 years of consecutive profits, the crown corporation posted a $327 million loss in 2011, and the losses have continued in the first two quarters of fiscal 2012.

www.thestar.com...

The B.C. Pavilion Corp spent $263,000 in a failed effort to negotiate a $40-million naming rights deal for BC Place with Telus, according to figures provided by the provincial government.



Read more: www.vancouversun.com...

Canada's national public broadcaster lost nearly $36 million last year, according to recently published figures from the Canadian Radio-television and Telecommunications Commission.

The Canadian Broadcasting Corporation posted a pre-tax loss of $35.4 million for the year ending Aug. 31, 2010, mainly due to rising costs. In 2009, it lost $22 million.

The CBC gets a $1.1-billion annual subsidy from the federal government and operates in many less profitable and remote regions of the country.

www.torontosun.com...

etc, etc...

Originally posted by boncho
reply to post by pheonix358

These same companies that introduced planned obsolescence, that shift jobs to places where workers have no rights.

I still have a frypan that is over half a century old. It works and it works very well. Buy one these days and I am lucky to get 2 years out of it.

 

So if everyone owned a frying pan that lasted 50 years, and all the frying pan makers jobless, and the frying pan manufacturers went out of business. Would you be blaming them again for not having jobs available to people?

This would never happen in the real world.

But just for arguments sake let's pretend.

So, Boncho, why do you want to protect the jobs of people in China.

I suggest that if you don't have to keep replacing rubbish goods you may have enough money to do important things, such as feed the kids. The resources needed to continue to replace goods with planned obsolescence is staggering and a stupid waste on a grand scale.

I do not understand you, is it all about winning the argument. Is this how you see it.

P

reply to post by Merinda


The fact is that corporations "as they exist today" would never be allowed under the original interpretation of the Constitution. Corporation were suppose to be "limited in scope and for the public good" however the corporations have bought government and changed the rules.

The founding fathers could see the evil power of corporations through the East India Trading Company and the British crown. My view of the Boston Tea Party includes the belief that the colonialists were also targeting the East India Trading Company who owned the tea thrown into the harbor. The colonial market was a monopoly to the company connected to the Crown and the elite.

I see corporations as one of the main threats to our republic and freedom.

Originally posted by pheonix358

Originally posted by boncho
reply to post by pheonix358

These same companies that introduced planned obsolescence, that shift jobs to places where workers have no rights.

I still have a frypan that is over half a century old. It works and it works very well. Buy one these days and I am lucky to get 2 years out of it.

 

So if everyone owned a frying pan that lasted 50 years, and all the frying pan makers jobless, and the frying pan manufacturers went out of business. Would you be blaming them again for not having jobs available to people?

This would never happen in the real world.

But just for arguments sake let's pretend.

So, Boncho, why do you want to protect the jobs of people in China.

I suggest that if you don't have to keep replacing rubbish goods you may have enough money to do important things, such as feed the kids. The resources needed to continue to replace goods with planned obsolescence is staggering and a stupid waste on a grand scale.

I do not understand you, is it all about winning the argument. Is this how you see it.

P

The light Bulb Conspiracy, a true story

If you have never seen this video it is enlightening on the production of stuff made to break and wear out.

reply to post by Merinda


Actually.... Companies are posting record profits because they cut jobs and investment in the company so they can pad their profits.
I have seen companies fire people, throw benefits out the door, then rehire the same people with lower wages and add a few people to the roster. Then they say they created jobs.

I agree that people need live within their means but if you are a huge company expect them to not live within their means and take it out on the laborer. Plus we seem to be on the trend of stacking things in the favor of companies on not the people because we are brainwashed into thinking if you are poor or struggling you are bad.

The truth of the matter is that we cannot compete with cheap labor over seas. Even if we "live within" our needs and destroy unions so as to make our country more attractive for companies... we will never be able to get our wages low enough to compete. Well we can lower our wages to compete but start kissing your way of life goodbye.


What will happen is that jobs will continue to move overseas. Big companies will cut back on employees and infrastructure so they are running on bare bones so that they can bail when this country tanks. All they are doing right now is draining the wealth out of this country and telling our government they need to take more from the laborer to be able to hire more people but the fact of the matter is that they want it to become easier for them to drain us before they bail.

The funny part is that eventually those third world countries they are exploiting will begin to ask for labor reform JUST LIKE THE USA did in its history... at that point we have just swapped positions with a third world country.

there is really no way to stop it. the best thing to do now is to make this country extremely miserable for them so they leave before they can drain us for every cent we are worth.. but know you guys will kiss their butts to see if they might throw you a bone.

reply to post by boncho


Again I don't get your point? Do you have any clue what I'm talking about?

Corporations, publicly owned and state owned, companies are not worker owned.

Employee-Owned Businesses Raise the Bar for All

Employee-owned businesses remain an oft-overlooked option for companies as a means toward ramping up productivity, profit and morale. But a new study shows that the overwhelming success of companies like UK-based John Lewis is due to innovative mechanisms to encourage employee participation and cultivate a culture of ownership. Andrew Bibby explores how this company model of a fully or majority employee-owned business is not only self-sustaining and successful, but is in fact widely applicable.

A personal stake: Why employee-owned businesses return more than a profit

Bobs Red Mill worker owned since 2010...

Although the company does not disclose its exact revenue figures, its annual revenue ranges between US$30 million to $50 million.[3]

en.wikipedia.org...

I'm glad you finally showed me what your point was, it's no wonder I couldn't understand what you were getting at.

It is all a big con.
if they are STILL making Big profits.
then there is NO recession...

Originally posted by buddha
It is all a big con.
if they are STILL making Big profits.
then there is NO recession...

Yes, it is a big con

Yes they are still making big profits

Yes, there is a recession, it is the companies that are causing it! It is deliberate!

P