I have been watching the S&P earnings reports so far this quarter. I'm not sure if these numbers forcast the future very accurately but 70% of the companies reporting so far have beat the profit estimates but only 42% have beat revenue estimates. Are the big companies doing it through a combination of raising prices and reducing head counts, or just doing it through reducing head counts? Either way it's a trend that seems to be not good for the economy.
Rural scrapper
I've been wondering if the election comes into play any with reguard to this numbers.
Alvord iron and salvage
3rd generation scrapper and dam proud of it
Metal Recycling Entrepreneur
They are doing it using any method/s their greedy minds can conjure to do so, and do not give a flying flip what is good for the economy, or the country, or even their own mom and pop. (just my .02 ; )Originally Posted by freonjoe
Metal Recycling Entrepreneur
I would think the books are fudged every quarter to beat the "profit" estimates even with lower revenues, management has to get those bonuses. Reducing head count helps but also killing new product research (which is very costly).
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count the peas in your can, half gallon of ice cream is now 1 3/4 qt. 1 lb of bacon is now 12 oz 1 lb jimmy dean sausage is now 14 oz. and reciently a 20 oz coke went to 16.9 oz while prices continue to go up. the reductions all seem small but % wise they are all huge increases they couldnt get by with by just raising the price.
"anyone who thinks scrappin is easy money ain't doin it right!"
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I'm not sticking up for big business in general, but honestly most people in any sector of the working world find ways to increase profits. Heck, the main point of THIS forum is to do exactly that. And there is a large (in my opinion) percentage of people on here that do things daily that would fit in that category. For instance, how many people here separate ALL of their plastic from metal before going to the scrapyard? Or how many circuit boards within power supplies are being crushed as shred? None of those practices are good for our environment, which eventually makes it bad for economy, country, mom/pop/kids. I kinda get where you are coming from, but its become so common to blast "big business" when so many "little" guys are not doing their part either. In the end, people call for our leaders to overregulate, tax and basically turn our industries into state-run companies. Lets ease up on the rhetoric and let your spending $ do your talking. One thing about all businesses is that they learn to adapt when the bottom line is affected or else close the doors.
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The ice cream analogy is one of my pet peeves. Now i only buy Publix brand (which is still 1/2 gallon) and only when on BOGO
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precious metals at a six month low, stock market looks like crap, were approaching the fiscal cliff, does not look good for obama, he needs to cut government jobs and programs but cant because it will increase unemployment so will avoid the issue until after the election
Last edited by jghilino; 10-23-2012 at 07:30 PM.
Metal Recycling Entrepreneur
No matter who wins some crazy things will happen after the election.
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We should have just taken our medicine when $hit all went south so as to not prolong this crap.
Recyclable Material Merchant Wholesaler
Certified Zip-Tie Mechanic
"Give them enough so they can do something with it, but not too much that they won't do nothing."
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^**^%^$#@#%^ well there went about $200 over night. shipment goes to E tomarro
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this is a little scary.markets usualy move in sink. dollar goes down gold goes up. oil goes down market goes up. etc. it makes no sence when it all goes down at the same time logically or practicaly. kinda tells you something is screwey.
Metal Recycling Entrepreneur
I feel your pain on that one...mine left today :-(
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I am still long on the metals, people have to put there money somewhere and its not going to be stocks or remain in cash while QE is going on, gold is holding on remarkably well still over $1712, that alone says it all less than 1% drop. 1% is nothing compared to how much everything else dropped today.
Last edited by jghilino; 10-23-2012 at 09:25 PM.
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Funny, haven't seen my price drop yet, actualy was fixing to raise prices on a couple of things.
We buy electronic scrap, Gold Karat scrap, gold filled, refined gold, silver and many other item's.
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agreed barren, i think everyone is overreacting the base metals didnt take much of a hit either i think copper was at 3.63 now its at 3.59
Metal Recycling Entrepreneur
Showing an increase, and being an outright scoundrel are two different things. When the sky began falling all around us in 2007, the big corporations(which the OP here was addressing, as was I) that caused it (while raking in record profits, and robbing the masses) went crying to the government to bail them out, and the very next week they were sitting in a $1000 an hour spa for a week, at "company...uhmmm...taxpayer" expense, and the following month were granting themselves record (M-M-Megamillion dollar) bonuses.
You are certainly correct in stating an increase to be a business requirement, but doing it with sweat and blood is all too uncommon these days, on any level, most especially in big business. And if you must bring it on down the line, I've certainly seen people on here brag about things I'd never wish to consider doing to someone, but then, on the other hand I've also seen acts of outright generosity on a level that you'll never see in a large company.
Yes, we're on a greedy planet, and one day when space travel has became the norm, an old dirty sign will point to a distant hunk of molten muck, and read, "the greedy planet" ; )
Metal Recycling Entrepreneur
You can't take your medicine when the reality is the world is insolvent any way you look at it.
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I have no problem with big business, and never said I did, it is the multi nationals with no morals or ethics I have a problem with.
we have kept our mouths shut for decades thats why we are where we are.
most people dont pay attention, the multi corps know that, thats how they reduce their products but use the same package. you don't see them advertising "new convient smaller size (less for your money) to me this is immoral.
when you or me spend exta work to increase our profits thats one thing, the American way.
if we hosed down our loads before delivery or, loaded that frigs with sand or mud that would be more like what the multi nationals do.
when companys were American or Japaniese. they had care and pride in the country they were citizens of.
today the multi nationals only loyalty or concern is Money they are citizens of no where and care about no country. just my .02
Don't get me started. This year my cell and internet went up. Same slow service. "Pay more. Get less." is what I have been saying for some time, and it applies just about everywhere nowadays.
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