600 more American jobs heading to Mexico because of corporate gluttony

Mondelez International is an American food company headquartered in Illinois.

Note that Mondelez banked $7 billion in profit last year.

They are closing their Oreo cookie plant in Chicago and moving it to Salinas, Mexico.

The company offered to stay, if the 600 Bakery Union workers would take a $46 million dollar pay cut. That is equal to the cost savings the company claims moving operations to Mexico will net.

Let's look at the salary of the top 3 company executives:

If its executives are so inept they can't find an honest way to fill a $46 million hole, they should dock the pay of their top three executives by that amount. They can damn sure afford it, for they totaled $37 million in compensation last year. CEO Irene Rosenfeld alone took a $20 million paycheck in 2015, bringing her eight-year total pay and benefits to almost $200 million.

source


This is just one more example in a long string of manufacturing moves that hurts the American economy and citizens, while delivering another body blow to Chicago.

Buy Made in America products. And don't buy Oreos; they aren't really food. Yuck.

Simple...

Don't buy Nabisco products.

Problem solved.

I wouldn't have thought I would have to look at where my stupid cookies are made, but...

Don't worry Trump will stop this sort of thing, right?

The only and I mean only thing you can do is look where your products are made. If this isn't a big deal to you, well keep on buying them.

a reply to: onequestion

The problem I think we will see is like where athletic shoes are made. Good luck getting a pair that isn't made by poorly treated workers at a cost of a few $ and then sold to you for $100.

I imagine in a few years we can look forward to having the same priced baked goods with made in china/Mexico/Vietnam on the label, and no other options other than making it ourselves.

The trade agreements we are in are very short sided and are designed to make outsourcing very attractive for the short term.

If US stores stopped carrying Oreos that would put a serious dent in their profit. It's not like Oreos are then main profit for a store. People will buy another cookie if they want a cookie.

a reply to: seasonal

Can't blame selfishness and greed on trade agreements that responsibility lies solely in the hands of humans.

a reply to: onequestion

There are no financial barriers in place in the trade agreements, so yes I can "blame" the agreement.

a reply to: Olivine

Why is this corporate gluttony? (devils advocate)

What makes a CEO worthy of 20 million in pay? One would think the person single handed mixed, baked, boxes, marketed, accounted and every other job in the company.

a reply to: roadgravel

Because there are only so many people that have the vision necessary to make the right decisions to influence the market in a ..... BLAH BLAH BLAH

I have a hard time grasping the pay for some of the leadership in these companies. Even if they get fired, some get a going away present in the millions.

a reply to: Olivine

They probably left because of state gluttony, but who's counting?

a reply to: seasonal

The company made $7,291,000,000 in profit. $46 million is less than 1% of that profit. But the corporate management choose that .6% gain, and pay humans living within the borders of Mexico $4.00/hr while simultaneously putting 600 folks earning descent living wages with good benefits, out of work.

The trickle down economics of that decision will be felt by the companies that used to sell goods and services to those now 600 unemployed people.

IMO the decision can only be classified as greedy. , and unpatriotic. I used gluttony because of the cookies involved.

a reply to: LesMisanthrope

Gluttony of the stock holders is more likely.

From a shareholder standpoint, each share earned a dividend of about 60 cents in 2015 on a share price of $44.00. That's about 1.5%. So if you had $44,000 invested in shares, you made a whopping $600 in 2015. Not such a hot income.

So what were the employee demands about pay and benefits? Did you bother researching that?

a reply to: onequestion

The only numbers that matter are the next quarters increases (and it's never enough).

a reply to: schuyler

The idea of the stock market is crap.

originally posted by: Olivine
Mondelez International is an American food company headquartered in Illinois.


This is just one more example in a long string of manufacturing moves that hurts the American economy and citizens, while delivering another body blow to Chicago.

Buy Made in America products. And don't buy Oreos; they aren't really food. Yuck.

Sad
Another ICON I will never buy from and will be sure to spread the word around.
Like many others, like CRANE for example they made a profit, but it is never enough.
I have asked many people before how much is enough profit and never get an answer.

There needs to be someway we can punish these Globalist Corporations at the government level, since they also went to the Government to push their Globalist Trade Policies that harm this country. Turn around is fair play.
I am pretty sure Americans are the top consumers of their products.

In fact, American Citizens could hold Global Corporations feet to the fire if we banded together.
Out of 201 countries on the list, we come out at the number one spot.

List of largest consumer markets
en.wikipedia.org...

originally posted by: onequestion
Simple...

Don't buy Nabisco products.

Problem solved.

That will not work unless you organize all consumers together to fight back
Organized Business banded together to create these trade pacts. They know that is how it works.
It will take Organized workers and citizens to kill these pacts at the government level.

originally posted by: seasonal
a reply to: onequestion



The trade agreements we are in are very short sided and are designed to make outsourcing very attractive for the short term.

Yes, that is the major problem in a nutshell
Short sighted thinking, only thinking about the next quarterly profits.
Then when they run out of other peoples money, they will put the blame on workers or their puppet politicians they bought.

Politicians job historically in accordance with the Constitution should be to ensure the domestic tranquility, defense and welfare of this nation. They are failing on all accounts. We are under attack by Globalists.

We need some kind of Brexit Action against these Globalist Traitors

originally posted by: onequestion
a reply to: LesMisanthrope

Gluttony of the stock holders is more likely.

Unlike Consumer Based Capitalism we USED to have when consumers came first and we had HQ products AND corporate and banking influence in our government was almost nonexistent

Contrast to today where they basically own our government and we have Shareholder First Capitalism and in return we get plastic trinkets that break and break and keep us going back for more made in slave labor countries.