Quote:
Originally Posted by aceventura3
Perhaps Rubber Maid got complacent.
I don't know about you, but I am never going to feel sorry for a company generating anywhere close to $6 billion in sales with 30% gross profit margins.
http://ir.newellrubbermaid.com/relea...leaseID=205448
In fact after looking over the financials NWL may prove to be a good stock to invest in. Thanks for the tip.
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I stated look at what they did to that company. When Wal*Mart in the 90's decided to play the games with Rubbermaid, the company was profitable, but the employees got to share in that profit, the community (Wooster Oh) got to share in the success.
When Wal*Mart decided to play their games and sales dropped, Rubbermaid was forced to sell to Newell, just to stay alive.
Now, of course they make that kind of profit they shipped all the jobs overseas and to Mexico. Pretty much destroying a whole region here, in this country.
So again, I ask, why? Why did Wal*Mart feel it necessary to take a company's product, they did not have a problem moving at the price they offered it, lower the price, then kicking out the product, until...... they were hurting and sold to Newell?
I wonder how many other companies Wal*Mart has blackmailed and treated in such a way.
I find it pathetic that people would rather see a gross profit margin of 30% and communities destroyed, tax revenue lost and good paying jobs disappear... then to take notice of what truly is going on and saying enough.
How many workers do you think in Mexico can buy shares of Newell? How many ex-employees of Rubbermaid lost health insurance (now when they go tax money pays, their credit goes to shit and so on), the tax money that went to unemployment, the small businesses that relied on those workers business, the city, county and state that lost tax revenue and now have to make up for it by raising income taxes or lowering services, education standards, and so on.
This is just one example..... but hey it's fucking ok. because even though now that those people lost their jobs and tax payers had to eat a loss..... the company shows a profit.... even though they now make it all overseas, pay shit wages and non of the employees can afford to truly buy any stock in the company to reap any rewards.
But it's ok, because Wal*Mart got to lower the price...... the product is shit and not nearly as durable and as reliable as it was. But that's capitalism.... fuck the worker, fuck the community, fuck everyone as long as we make profit. Even if eventually, we don't have any customers because they can't afford the product any longer.