Why profits are up or ,

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Glennfs
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Why profits are up or ,

Post by Glennfs »

This is another example of how liberals lie and tell the truth at the same time
Or
A free lesson in retail

If a company has a product they buy for $1 and sell for $2.00 and the wholesale price goes up to $1.50. They do not increase the price to $2.50 they increase the price to $3.00. Because they need to maintain the same profit margin.

Here's an advanced lesson

If you have a product you buy wholesale for 1 and retail for 2 and the wholesale price goes up to 1.50. You have to raise the price on the product on the shelf you bought for 1. Because if you don't you will never see a profit.

So when the liberal democratic party press reports about record profits. They are lying while telling the truth. Unless of course they also share the profit margins. Which of course they never do.
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gounion
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Re: Why profits are up or ,

Post by gounion »

Ah yes. The boss always tells you there just isn't any money for YOUR raise, that he is just barely making ends meet. "Hey, just needed to let you know this, before I left in my brand-new Mercedes for a few weeks in my new boat at the new summer home I just bought!"
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Number6
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Re: Why profits are up or ,

Post by Number6 »

Glennfs wrote: Sun Mar 20, 2022 9:12 am This is another example of how liberals lie and tell the truth at the same time
Or
A free lesson in retail

If a company has a product they buy for $1 and sell for $2.00 and the wholesale price goes up to $1.50. They do not increase the price to $2.50 they increase the price to $3.00. Because they need to maintain the same profit margin.

Here's an advanced lesson

If you have a product you buy wholesale for 1 and retail for 2 and the wholesale price goes up to 1.50. You have to raise the price on the product on the shelf you bought for 1. Because if you don't you will never see a profit.

So when the liberal democratic party press reports about record profits. They are lying while telling the truth. Unless of course they also share the profit margins. Which of course they never do.
What if that product is a loss leader?
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Re: Why profits are up or ,

Post by ZoWie »

The advanced lesson still isn't as relevant as the one you get in the real grad school outside the university, where they tell you what business is really about.

Though in this case, the grad schools are not schools at all, but large office buildings in New York, London, and a couple of other places. And what it's really about is knowing when to sell the business and which multinational conglomerate to sell it to, at which point you get the equivalent of a diploma. This "diploma" consists of a huge amount of paper wealth, admitting you to the Billionaire Boy's Club, and getting you a shot at being rich enough to have your own space program.

Oh, and there's no ethics class. You can also get your diploma by buddying up to dictators. You might not know as much, but you'll still get invited to the right parties, or maybe even become president of the United States.
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Glennfs
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Re: Why profits are up or ,

Post by Glennfs »

Number6 wrote: Sun Mar 20, 2022 1:30 pma
What if that product is a loss leader?
A loss leader is a popular product used to lure people to your store. You place them in a location where people have to pass multiple point of sales displays
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Re: Why profits are up or ,

Post by ZoWie »

The American political system is a loss leader. It attracts people with a few good deals, then empties their wallets while they idolize the 0.5% that get to keep it and spend it on bigger yachts and more stately mansions.
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Re: Why profits are up or ,

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Glennfs wrote: Mon Mar 21, 2022 11:27 am A loss leader is a popular product used to lure people to your store. You place them in a location where people have to pass multiple point of sales displays
Not exactly right. A loss leader is priced either at or below cost to attract people into a store with the hope they'll buy other items that have a high markup. I worked at K-Mart n the early 70s in the Jewelry and Camera department and the cameras were sold at cost or with a very small markup. It wasn't the cheap price on the cameras that made the money but the film sold for the cameras and photo processing that made the store money. A current comparison would be inkjet printers. The printer have a very small markup because the printer is sold only once but the store makes money off the inks they sell for the printer.

All retail is local and the prices retailers sell their products at have a lot to do with their competition in the local area. For example, two independent gas station owners but their gas from the same producer at the same price. Each has to take into consideration their costs such as employees, taxes, rent for land or mortgage payment on the land, etc.. when they set their prices. The owner with the lower operating costs will have more room to lower their prices than the other. Another factor to include is how much volume the sell. Higher volume sales allows them sell at a lower price.

While your OP post explanation is simplistic it doesn't reflect the reality of retail. What I'm saying is retail sales is much more complicated than they way you described it. If you doubt it then just as the owner of any local store and they'll fill you in on how hard it is.
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Re: Why profits are up or ,

Post by ZoWie »

Number6 wrote: Mon Mar 21, 2022 1:38 pm Not exactly right. A loss leader is priced either at or below cost to attract people into a store with the hope they'll buy other items that have a high markup. I worked at K-Mart n the early 70s in the Jewelry and Camera department and the cameras were sold at cost or with a very small markup. It wasn't the cheap price on the cameras that made the money but the film sold for the cameras and photo processing that made the store money. A current comparison would be inkjet printers. The printer have a very small markup because the printer is sold only once but the store makes money off the inks they sell for the printer.
In high end gear, the camera bodies are sold separately from lenses. The price of the lenses can easily exceed the price of the body, which of course is the one they advertise, with (body only) in very small letters or down at the bottom where no one reads it. Or they'll sell you the whole camera at what looks like a good price, but the lens you get is an el-cheapo made either by a third party or by the OEM with lower specs on things that real photographers notice. They're not as good as the same lens bought separately. Then, of course, they can really ding you on batteries and accessories, though usually there are cheap Asian knockoffs that sometimes even work just as well... sometimes.

Half the battle seems to be getting people into the store. Black Friday is the poster boy for this kind of marketing. They cut the price of last year's TVs and start the ad blitz a month before. They make you out to be some kind of freak if you don't line up with the rest of the consumers at 5 AM the day after Thanksgiving. It's practically a religious observance.

Tech of course is the same kind of marketing done by drug dealers. They give you a good deal on the printer, then charge a bundle for the ink. They give you the program and regular updates, but at a monthly rate on a subscription you have to renew every year. Then you had the ultimate hook job with Windows 10, where Microsoft simply recommended that you buy a new PC.
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Re: Why profits are up or ,

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ZoWie wrote: Mon Mar 21, 2022 2:54 pm In high end gear, the camera bodies are sold separately from lenses. The price of the lenses can easily exceed the price of the body, which of course is the one they advertise, with (body only) in very small letters or down at the bottom where no one reads it. Or they'll sell you the whole camera at what looks like a good price, but the lens you get is an el-cheapo made either by a third party or by the OEM with lower specs on things that real photographers notice. They're not as good as the same lens bought separately. Then, of course, they can really ding you on batteries and accessories, though usually there are cheap Asian knockoffs that sometimes even work just as well... sometimes.
I remember selling a 35mm Minolta SLR to a customer going on a photographic African safari. After he decided to buy the camera, he was telling me about how he how to get closeup shots. I told him the lens that came with the camera was good for general, scenic shot but since he won't be really close to the animals he'd want a zoom lens and I showed him how the lens worked. I also explained to him how the automatic shutter and F-Stopped worked and how he can manually manipulate them and why he'd want to do that. He ended up buying the camera and zoom lens. We made more money on the zoom lens than on the camera. BTW, I didn't work on commission so I wasn't up-selling him to get more money.
Half the battle seems to be getting people into the store. Black Friday is the poster boy for this kind of marketing. They cut the price of last year's TVs and start the ad blitz a month before. They make you out to be some kind of freak if you don't line up with the rest of the consumers at 5 AM the day after Thanksgiving. It's practically a religious observance.
For many people, Black Friday is the best way they can afford to buy something nice. For me, rarely is there anything on sale that day that I'm interested in buying.
Tech of course is the same kind of marketing done by drug dealers. They give you a good deal on the printer, then charge a bundle for the ink. They give you the program and regular updates, but at a monthly rate on a subscription you have to renew every year. Then you had the ultimate hook job with Windows 10, where Microsoft simply recommended that you buy a new PC.
I still use Microsoft Office 2010 and as of last October, Microsoft doesn't support it anymore. I've looked at buying a new version but Microsoft wants an monthly subscription and I just don't see the value in it. I've looked into their online Office version where everything is stored in the cloud but I maintain a list of people (over 250) with names, addresses, and email addresses, and I don't trust Microsoft not to harvest and sell that information.
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Glennfs
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Re: Why profits are up or ,

Post by Glennfs »

Number6 wrote: Mon Mar 21, 2022 1:38 pm Not exactly right. A loss leader is priced either at or below cost to attract people into a store with the hope they'll buy other items that have a high markup. I worked at K-Mart n the early 70s in the Jewelry and Camera department and the cameras were sold at cost or with a very small markup. It wasn't the cheap price on the cameras that made the money but the film sold for the cameras and photo processing that made the store money. A current comparison would be inkjet printers. The printer have a very small markup because the printer is sold only once but the store makes money off the inks they sell for the printer.

All retail is local and the prices retailers sell their products at have a lot to do with their competition in the local area. For example, two independent gas station owners but their gas from the same producer at the same price. Each has to take into consideration their costs such as employees, taxes, rent for land or mortgage payment on the land, etc.. when they set their prices. The owner with the lower operating costs will have more room to lower their prices than the other. Another factor to include is how much volume the sell. Higher volume sales allows them sell at a lower price.

While your OP post explanation is simplistic it doesn't reflect the reality of retail. What I'm saying is retail sales is much more complicated than they way you described it. If you doubt it then just as the owner of any local store and they'll fill you in on how hard it is.
A stores profit margin is determined and defined by total sales not individual items.

If you have any questions about ownership of a small store I will be happy to answer. As I owned the Highland Market a 3 isle neighborhood convenience store and Mr Ts Custard a neighborhood frozen custard stand in the late 70s and early 80s. Located respectfully at 1284 and 1290 West Waterloo Road Akron Ohio.
If you have any questions about corporate retail I will be happy to answer those questions also. As before I went into trucking I ran the 7th sometimes 8th largest Eckerd Drug store in North or South Carolina.
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Re: Why profits are up or ,

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He got the right info. I hope he liked his setup as much as I do with something roughly similar. I use a zoom that goes from wide angle to moderate tele. It didn't cost more than the camera body, but close. It's not the only lens I have, so the cost of the lenses does exceed the cost of the body.

Also the bodies are obsolete every three years, since they're electronic and change as fast as anything using that technology. We're a long way from boat anchors like the old mechanical pro cameras. Those can be maintained up to spec forever as long as parts exist. New electronic stuff starts showing its age pretty fast. There's also some planned obsolescence, as they love to roll out new features and shame you into wanting those.

Zoom lenses are indeed great for animals. You can maintain the proper distance to avoid interaction which messes up the shot and can in some cases mess you up as well. With some practice you can get pretty good framing. Animal photography is best done as a life's work, as there are a lot of tricks of the trade, plus you often need to spend days sitting and hoping to get lucky. I don't have that kind of patience.

Most people these days think you can make stuff that looks like National Geographic with a cell phone. But then, people think a lot of silly things.
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Re: Why profits are up or ,

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Glennfs wrote: Tue Mar 22, 2022 10:28 am A stores profit margin is determined and defined by total sales not individual items.

If you have any questions about ownership of a small store I will be happy to answer. As I owned the Highland Market a 3 isle neighborhood convenience store and Mr Ts Custard a neighborhood frozen custard stand in the late 70s and early 80s. Located respectfully at 1284 and 1290 West Waterloo Road Akron Ohio.
If you have any questions about corporate retail I will be happy to answer those questions also. As before I went into trucking I ran the 7th sometimes 8th largest Eckerd Drug store in North or South Carolina.
If I want answers to retailing I'll ask someone who was successful in retailing, not you.
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 1:37 pm If I want answers to retailing I'll ask someone who was successful in retailing, not you.
I was very successful but the bottom line is retail sucks so I found a different career
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Re: Why profits are up or ,

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ZoWie wrote: Tue Mar 22, 2022 11:01 am He got the right info. I hope he liked his setup as much as I do with something roughly similar. I use a zoom that goes from wide angle to moderate tele. It didn't cost more than the camera body, but close. It's not the only lens I have, so the cost of the lenses does exceed the cost of the body.

Also the bodies are obsolete every three years, since they're electronic and change as fast as anything using that technology. We're a long way from boat anchors like the old mechanical pro cameras. Those can be maintained up to spec forever as long as parts exist. New electronic stuff starts showing its age pretty fast. There's also some planned obsolescence, as they love to roll out new features and shame you into wanting those.

Zoom lenses are indeed great for animals. You can maintain the proper distance to avoid interaction which messes up the shot and can in some cases mess you up as well. With some practice you can get pretty good framing. Animal photography is best done as a life's work, as there are a lot of tricks of the trade, plus you often need to spend days sitting and hoping to get lucky. I don't have that kind of patience.

Most people these days think you can make stuff that looks like National Geographic with a cell phone. But then, people think a lot of silly things.
The thing I liked about the old film SLRs was you could us a lens on a number of cameras with the same mount. Unfortunately, those old lenses don't work with the new SLR digital cameras. I still have three old Minolta SLR cameras and lenses from 35mm, 50mm, zoom lens, and a 500mm lens.
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Re: Why profits are up or ,

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Glennfs wrote: Tue Mar 22, 2022 1:40 pm I was very successful but the bottom line is retail sucks so I found a different career
Of course you were which is why you've hopped from being a car salesman to a store owner to running a custard stand to being a manager of a drug store to various jobs in trucking.
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Glennfs
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 1:44 pm Of course you were which is why you've hopped from being a car salesman to a store owner to running a custard stand to being a manager of a drug store to various jobs in trucking.
I've had many jobs and most times more than one.
Custard Stand from 76 till around 84
Store which shared a parking lot with the stand 82 till 84
Sold cars on and off legally for 7 years beginning in 78, illegally from around 72 till 84
Worked in a machine shop in 1980
Moved to SC around 84 sold cars then went to work in a factory.
Around 87 I faked a resume and got a job managing for eckerd.
Started trucking in 91.
My time line might be slightly off also within that time frame I've laid carpet worked on a construction project as a laborer drove uber
Worked at McDonald's and other fast food joints .delivered pizzas done some tow truck work.
Like the song says when my time comes I want to look back and know I've gotten my money's worth.
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Re: Why profits are up or ,

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Glennfs wrote: Tue Mar 22, 2022 4:36 pm I've had many jobs and most times more than one.
Custard Stand from 76 till around 84
Store which shared a parking lot with the stand 82 till 84
Sold cars on and off legally for 7 years beginning in 78, illegally from around 72 till 84
Worked in a machine shop in 1980
Moved to SC around 84 sold cars then went to work in a factory.
Around 87 I faked a resume and got a job managing for eckerd.
Started trucking in 91.
My time line might be slightly off also within that time frame I've laid carpet worked on a construction project as a laborer drove uber
Worked at McDonald's and other fast food joints .delivered pizzas done some tow truck work.
Like the song says when my time comes I want to look back and know I've gotten my money's worth.
So once again you admit to lying when you said you "...faked a resume?"

The problem seems to be you have a hard time holding onto a job and the only common thread in why you couldn't hold a job is you. I'm sre you're going to play the victim card and tells us how awful your employers were to you which is why you changed jobs so many times.
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 4:49 pm So once again you admit to lying when you said you "...faked a resume?"

The problem seems to be you have a hard time holding onto a job and the only common thread in why you couldn't hold a job is you. I'm sre you're going to play the victim card and tells us how awful your employers were to you which is why you changed jobs so many times.
It was pre computers so I enhanced my resume and figured out how to get away with it.
Something I learned from TV I believe it was Chuck Barris who said when applying at NBC he included names of NBC VPs knowing they would never check.
So I included references that didn't exist. I adapted and overcame.
But I suppose I am the only person here that ever lied,exaggerated or enhanced a resume a job application or an interview.
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Glennfs
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 4:49 pm So once again you admit to lying when you said you "...faked a resume?"

The problem seems to be you have a hard time holding onto a job and the only common thread in why you couldn't hold a job is you. I'm sre you're going to play the victim card and tells us how awful your employers were to you which is why you changed jobs so many times.

No I just wanted to experience many different things,live in different areas and again live life to the fullest.
My employers like people some were good some bad one god awful. I ve been fired twice once because I was young single with no bills. The new car manager said to be a successful salesman you needed debt and bad habits. He was old school.
The other time was justified but only done because I got mouthy with a trucking supervisor who was chewing me out for not using the proper amount of straps when strapping down a vehicle.
You are supposed to use 4 I was using 3. He said I understand you've been 2 strapping cars
I said no I was 3 strapping them
He said what's the difference. I said 1 strap.
He also violated several laws by telling me if I didn't apply for unemployment he would write it up as if I quit voluntarily.
Overall I've had many adventures as well as miss adventures over the years.one time when I was 15 I was questioned about the illegal car lot I was running in my parents front yard.
I sold a 69 econoline to a guy for $250. He then stole a 73 in Michigan and tried to transfer the VIN tags. When he crossed state lines he broke federal law.
Now that I am coming to the end of the line it has been a great ride and I believe I have at least one more adventure in front of me if not 2 or 3.
Next up in about 15 months I am planning on buying into my friends tow truck business. Providing my health holds up.
Last edited by Glennfs on Tue Mar 22, 2022 5:21 pm, edited 1 time in total.
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gounion
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 1:44 pm Of course you were which is why you've hopped from being a car salesman to a store owner to running a custard stand to being a manager of a drug store to various jobs in trucking.
Glenn's being honest as to what he's done.

However, managing a drug store for a few years over 30 years ago doesn't make anyone an expert in the retail biz. It's not like the chain was a leader in the industry, they were swallowed up back in 2004 by CVS.
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Re: Why profits are up or ,

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Number6 wrote: Tue Mar 22, 2022 1:42 pm The thing I liked about the old film SLRs was you could us a lens on a number of cameras with the same mount. Unfortunately, those old lenses don't work with the new SLR digital cameras. I still have three old Minolta SLR cameras and lenses from 35mm, 50mm, zoom lens, and a 500mm lens.
On-board electronics are the perfect planned obsolescence. Improve the software every few years and everything's incompatible, even things like batteries.

Nikon is fairly good about lenses maintaining partial compatibility with newer bodies. The Dx series is reduced aperture. You lose full sensor coverage and sometimes other functions, but the mount still works.

Other mfrs vary. Sometimes there are third party adapters which work though you usually lose autofocus and/or autoexposure.
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