Diageo shuts down Menlo Park plant to raid employee pensions
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Riddle me this Einstein, if "competition is supply and demand" then why are there still supply and demand curves in markets where a monopsony or monopoly exists?
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The OP laid it out. If you oppose Diageo then the best thing you can do is not buy any of the listed beers/alchohol.
My brother and I both written and boycotted the Monster Energy drink Co. back when they were trying to bully a small beer Co. .... It seemed to have worked.
Matt and "The Monster"- Rock Art Brewery vs. Monster Energy Drink - YouTube
If you dont like it, dont buy it.
My brother and I both written and boycotted the Monster Energy drink Co. back when they were trying to bully a small beer Co. .... It seemed to have worked.
Matt and "The Monster"- Rock Art Brewery vs. Monster Energy Drink - YouTube
If you dont like it, dont buy it.
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My brother and I both written and boycotted the Monster Energy drink Co. back when they were trying to bully a small beer Co. .... It seemed to have worked.
Matt and "The Monster"- Rock Art Brewery vs. Monster Energy Drink - YouTube
If you dont like it, dont buy it.
Matt and "The Monster"- Rock Art Brewery vs. Monster Energy Drink - YouTube
If you dont like it, dont buy it.
Monopsony: One buyer, lots of sellers = competition.
Monopoly: One seller, lots of buyers = competition.
Wikipedia defintion of supply and demand:
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.
Am I simplifying this a bit by calling it all competition? Yes I am. But it sure is funny how you can't talk about any of this stuff without that little word coming up again and again.
Diageo - one of the world's largest alcohol producers has decided to shut down their 60 year old Menlo Park Bottling Plant.
Diageo who turned $2.5 Billion in profits last year is claiming that this is an attempt to save on shipping costs.
The real story is that Diageo wanted to raid the employee pension fund at the plant (which was originally owned by Heublein).
From a local ILWU union rep:
Diageo At Menlo Park California
130 people out of work because Diageo are a bunch of greedy *******s.
I for one will no longer be buying any Diageo brands. I ask you to boycott
Diageo who turned $2.5 Billion in profits last year is claiming that this is an attempt to save on shipping costs.
The real story is that Diageo wanted to raid the employee pension fund at the plant (which was originally owned by Heublein).
From a local ILWU union rep:
Diageo At Menlo Park California
130 people out of work because Diageo are a bunch of greedy *******s.
I for one will no longer be buying any Diageo brands. I ask you to boycott
- Crown Royal
- Jonnie Walker
- J&B
- Winsor Premier
- Buchanan's
- Bushmills
- Smirnoff
- Ketel One
- Ciroc
- Baileys
- Captain Morgan
- José Cuervo
- Tanqueray
- Guinness
- Harp Lager
- Kilkenny
- Smithwick's Ale
- Tusker Lager
- Red Stripe Lager
- Satzenbrau
- Senator Keg
- Windhoek Lager
- Bertrams VO
- Hennessy
- Gordon's Gin
I love
Crown royal and the purple bag
Jonnie other than red
Bushmills I have been to the plant
Guinness I have been to the plant.
but ill boycot the other stuff for you .
2,500,000,000 in profits
....50,000,000
I dunno, they would sue the hell out of them, I mean its a union they have to right?
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Wikipedia defintion of supply and demand:
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.
Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity.
"Rape is a type of sexual assault usually involving sexual intercourse, which is initiated by one or more persons against another person without that person's consent. The act may be carried out by physical force, coercion, abuse of authority or with a person who is incapable of valid consent."
Ergo, rape is consensual if we use the same linguistic and logical fallacies as you do. The highlighted portion of your definition is referring to the market itself and not the forces of supply and demand within it. Just because the word you are attached to is in the definition doesn't mean it supports your argument.
Originally Posted by Four vs Two
Monopsony: One buyer, lots of sellers = competition.
Monopoly: One seller, lots of buyers = competition.
Monopoly: One seller, lots of buyers = competition.
To declare, as you did, that "Competition is supply and demand" is as ridiculous as me declaring "I am selenium!" because some of the material exists in my body.
Originally Posted by Four vs Two
Am I simplifying this a bit by calling it all competition? Yes I am. But it sure is funny how you can't talk about any of this stuff without that little word coming up again and again.
Last edited by Irrational X; Aug 16, 2011 at 11:03 PM. Reason: spelling error, format change
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Oh, let me answer myself:
Diageo Plc.’s (DEO) fiscal 2010 net income from continuing operations grew 1.5% to £1.63 billion ($2.58 billion) from £1.61 billion in the year-ago period. Earnings per share came in at £0.65 ($4.11 per ADR), compared to £0.64 per share in the year-ago quarter.
Net sales recorded growth of 5% year-over-year to £9.78 billion ($15.48 billion). Excluding the impact of foreign exchange, acquisitions and disposals, organic sales logged a growth of 2%. Volumes also grew 2% year-over-year to 143.4 million of equivalent units.
In North America, Diageo’s net sales were essentially flat year-over-year at £3.31 billion ($5.23 billion) as benefits from favorable foreign currency translations and acquisitions were offset by a decline in organic sales. The region was adversely affected by continued macroeconomic headwinds and sluggish consumer confidence. Diageo recorded volume declines across all key brands, except Johnny Walker and Guinness, which grew by 5% each.
Diageo’s gross profit during the quarter increased 4.9% year-over-year to £5.68 billion ($8.99 billion), while gross margin dipped marginally by 10 basis points (bps) to 58.1%. Total operating expenses rose 3.6% year-over-year primarily due to higher marketing spend to support key brands. Diageo’s operating income posted a 6.5% growth to £2.57 billion ($4.07 billion) from £2.42 billion in the year-ago period.
At the end of fiscal 2010, Diageo had cash and cash equivalents of £1.45 billion ($2.19 billion) and borrowings of £8.18 billion ($12.32 billion). During the fiscal, the company generated £2.30 billion ($3.46 billion) and deployed £914 million ($1.38 billion) towards dividend payments, £422 million ($636 million) towards debt repayment and £374 million ($564 million) towards capital expenditure.
Net sales recorded growth of 5% year-over-year to £9.78 billion ($15.48 billion). Excluding the impact of foreign exchange, acquisitions and disposals, organic sales logged a growth of 2%. Volumes also grew 2% year-over-year to 143.4 million of equivalent units.
In North America, Diageo’s net sales were essentially flat year-over-year at £3.31 billion ($5.23 billion) as benefits from favorable foreign currency translations and acquisitions were offset by a decline in organic sales. The region was adversely affected by continued macroeconomic headwinds and sluggish consumer confidence. Diageo recorded volume declines across all key brands, except Johnny Walker and Guinness, which grew by 5% each.
Diageo’s gross profit during the quarter increased 4.9% year-over-year to £5.68 billion ($8.99 billion), while gross margin dipped marginally by 10 basis points (bps) to 58.1%. Total operating expenses rose 3.6% year-over-year primarily due to higher marketing spend to support key brands. Diageo’s operating income posted a 6.5% growth to £2.57 billion ($4.07 billion) from £2.42 billion in the year-ago period.
At the end of fiscal 2010, Diageo had cash and cash equivalents of £1.45 billion ($2.19 billion) and borrowings of £8.18 billion ($12.32 billion). During the fiscal, the company generated £2.30 billion ($3.46 billion) and deployed £914 million ($1.38 billion) towards dividend payments, £422 million ($636 million) towards debt repayment and £374 million ($564 million) towards capital expenditure.
My original statement still stands and I'm sorry that I have upset you by thinking in my mind of supply and demand as being covered with a simple word. I guess I'm just simple minded. The funny thing to me is, I was essentially agreeing with you.
Last edited by Four vs Two; Aug 17, 2011 at 09:40 AM.