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Fury as one of America's oldest companies slashes jobs in the Midwest as it shifts work to Mexico: 'It's greed'
UK Daily Mail ^ | 06/29/2024 | JAMES CIRRONE

Posted on 06/29/2024 9:49:57 AM PDT by DFG

John Deere is sparking outrage by laying off American workers and moving more of its agricultural equipment manufacturing to Mexico.

Since October 2023, more than 1,000 John Deere workers have either been laid off or pushed into an early retirement across several plants in Iowa and Illinois.

In many instances, production that these US workers were responsible for has been shifted to new locations in Mexico. The company was founded 187 years ago.

More layoffs are expected later this year - despite John Deere raking in over $10 billion in profit in 2023 while also paying CEO John May $26.7 million in total compensation.

A longtime John Deere worker at the Harvester Works plant in East Moline, Illinois, told The Guardian it comes down to one thing: Greed.

'We get wind of more layoffs daily, it seems, and it's causing uncertainty all over,' said the worker, who stayed anonymous for fear of retaliation.

'The only reason for Deere to do this is greed.'

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Front Page News; Government; Politics/Elections
KEYWORDS: giantsuckingsound; iowa; johndeere; manufacturing; tractor
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To: dragnet2

What truth? Jesus said, “I am the truth, the way and the life. That truth?


221 posted on 06/29/2024 4:49:31 PM PDT by aspasia
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To: aspasia

Jesus?

Never mind. See the tagline.


222 posted on 06/29/2024 5:04:10 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: dragnet2
Lol. I have no clue what truth you are referring to.

That exploitation and unjust profits are marxist canards? I think that's what I was saying. I heard their gripes a lot -- a lot -- in school. Ugh. Very tiresome. And then they would mix it up with the black underclass, and since Marcuse ... Anyhow, a man can't agree or disagree with mute fish.

223 posted on 06/29/2024 5:18:31 PM PDT by aspasia
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To: aspasia
I have no clue what truth you are referring to.

Right, you have no clue. No surprise here.

224 posted on 06/29/2024 5:21:40 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: central_va

And who do you think will end up paying for that big, fat, import tariff? Every US, independent, farmer who is trying to remain competitive with corporate farming. They will try to pass those increased costs onto US consumers via higher prices. Think it though.

Tariffs are not the answer.


225 posted on 06/29/2024 6:48:01 PM PDT by econjack
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To: Jim W N; DFG

I’m sorry, but you have an incredibly charitable view of human nature to assume private individuals (or private companies) are not susceptible to the vice of avarice.

An immoderate excess of “self-intrest” is destructive, be it public or private.


226 posted on 06/29/2024 6:59:47 PM PDT by Ultra Sonic 007 (There is nothing new under the sun.)
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To: econjack
Every US, independent, farmer who is trying to remain competitive with corporate farming.

Wow. Farmers sell their product to other Americans. The tariff doesn't apply to them. I think at heart most Free Traitors™ such as yourself, are made stupid by blind greed uber alles.

227 posted on 06/29/2024 8:10:30 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: DFG

The bean counters of John Deere will kill the company. The ceo and board directors and other higher ups will make millions doing this while the company falls apart.

I believe this guy below is right about the union costs.
My first job was at a place that had the Teamsters and you could not do any other job without layers of union reps and plant reps approving.

Tom (Yahoo article on this)
maybe those Union work rules were a bit much. they are not eliminating the jobs. they are moving them to where a machine operator on the line cannot change a light bulb, the line must stop until a junior electrician comes to verify the lightbulb needs to be changed retrieves one from the storeroom and waits for a senior electrician make it to the location to install the new lightbulb then production can begin again. The process usually takes forty-five minutes, while the entire plant is at a standstill. Union, YES!


228 posted on 06/29/2024 10:50:23 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: central_va
You can't be that stupid and still be alive. A piece of John Deere equipment is an asset that is used over time. The cost is amortized over its expected life. That cost includes the tariff it paid to acquire the asset. Farmers will attempt to capture that cost, including the tariff, via higher prices, which means you end up paying part of the tariff cost.

The only winner in the deal is the gov't which collects the tariffs but provides nothing in return.

229 posted on 06/30/2024 6:49:10 AM PDT by econjack
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To: Ultra Sonic 007
individuals (or private companies) are not susceptible to the vice of avarice.

I never said that. I said that the most greedy (using your definition above) entity in existence is government and its bureaucracies with their voracious appetite for legal larceny of your money and your freedom. Unconstitutional governmental interference in the marketplace is like putting wolves in charge of the henhouse. The answer in the marketplace to fallen man's greed is not the worse choice of gov't, but the open competition of free enterprise.

The Left has sold you a bill of lies that legitimate and healthy self -interest is the same as overblown "greed" that lies at the feet of financially successful business and businessmen. Although greed is often present, self interest and greed are simply not the same thing.

What makes the world go 'round is legitimate God-given self interest. What keeps you reaching for rat poison for dinner? Self interest. What causes you to work hard to support yourself and your family? Self interest. Even doing things for others is guided by the good feeling you get from doing so. Again, self interest.

Government's greed is forced upon you. In the marketplace free from gov't interference, no one's forcing you to do anything. You are free to reject the greedier players and are free to chose from whom you want to do business. And in the open competition of free enterprise, over time, the greedier players tend to lose to the players with lower prices and better quality. The consumer wins in the free market which is freedom in action.

As I said, freedom isn't perfect, but it's way ahead of whatever's in second place.

230 posted on 06/30/2024 6:51:05 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ (Jude 3) and our Free Constitutional Republic!)
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To: econjack
which means you end up paying part of the tariff cost.

Good. Consumption taxes that promote domestic industry and raise revenue that can offset income tax rate reductions IS A GOOD THING!!! YES!!! MORE AND HIGHER TARIFFS PLEASE!!!! I WANT TO PAY. TARIFFS CANNOT GO TOO HIGH.

Unlike your income tax tariffs are easy to avoid, don't buy, dont pay. Instead save up your money and buy a quality Made in the USA product instead.

PS Global boi, I am not a consuming insect with no brains and the sophistication of gnat. I am a patriot. I've seen the damage you economic traitors have done to the USA. Basically the anti tariff Free Traitor™ crowd are defacto supporting taxing the sweat of our brow and making US workers compete with turd worlders for wages.

I predict it will get very hot for you one day. You will have a lot of company. Free Traitors™ are the scum of the earth...

231 posted on 06/30/2024 7:03:51 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: Jim W N
If self-interest can't be "legitimate and healthy" the only interest left is a sort of general communal interest.

I guess the ancient Egyptians had the real deal. Or maybe the Chinese--are they economic nationalists?

232 posted on 06/30/2024 7:15:02 AM PDT by aspasia
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To: central_va
You're incredibly naive if you think revenues from tariffs will be used to lower income taxes. Politicians don't think that way. You can set tariffs too high if you "want to pay" them. You can set them to the point where none are imported, which is what you want. What happens when the product isn't made anywhere in the USA? There are lots of things that cannot be produced here that are deemed desirable (rare earth minerals used in your Smartphone and other electronic products, including defense items). How do you decide which imports are subject to tariffs and which aren't? Do consumers decide or some bureaucrat?

If "turd" world countries can sell cocoa in the US for half what it would cost the US to produce it and the cocoa workers in the US constitute 10,000 employees, which is better for the US: 330 million chocolate users buying products at $5/lb or having them pay $10/lb to benefit only 10,000 employees? That works out to a subsidy of $166,500 per worker that you've just shoved onto the shoulders of the consumer. You have no understanding of Comparative Advantage.

Talking to you is like trying to educate a rock. No more time wasted talking to rocks...you're not worth it.

233 posted on 06/30/2024 7:37:53 AM PDT by econjack
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To: aspasia

Who said self-interest can’t be “legitimate and healthy”?


234 posted on 06/30/2024 7:45:43 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ (Jude 3) and our Free Constitutional Republic!)
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To: Jim W N

Not you. Why do you ask?


235 posted on 06/30/2024 7:46:50 AM PDT by aspasia
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To: aspasia

Your initial post to me.


236 posted on 06/30/2024 7:48:01 AM PDT by Jim W N (MAGA by restoring the Gospel of the Grace of Christ (Jude 3) and our Free Constitutional Republic!)
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To: central_va

The stock price of John Deere is $383. That means each share holder got $8.00 for his investment. 23 Billion sounds like a lot but is divided between a lot of people.


237 posted on 06/30/2024 9:37:55 AM PDT by JAKraig (my religion is at least as good as yours.)
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To: JAKraig

Does it then follow that if JD’s market cap doubles the shareholder will also double their unjust greedy gains to $16?


238 posted on 06/30/2024 11:34:03 AM PDT by aspasia
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To: econjack
What happens when the product isn't made anywhere in the USA? There are lots of things that cannot be produced here that are deemed desirable (rare earth minerals used in your Smartphone and other electronic products, including defense items).

We can make evrything we need in the USA. IF forced to, the regulations will be removed.

Cocoa, really? I am talking about hard core durable goods not beans....

239 posted on 06/30/2024 6:32:11 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: aspasia

Fury as one of America’s oldest companies slashes jobs in the Midwest as it shifts work to Mexico: ‘It’s greed’
6/30/2024, 2:34:03 PM · 238 of 239
aspasia to JAKraig
Does it then follow that if JD’s market cap doubles the shareholder will also double their unjust greedy gains to $16?

____________________________________________________________

I don’t think I would invest $400 to get a return of $16.

I don’t consider myself greedy but would never consider 2% return a worthwhile investment. Yes there is also rising value of the stock but that just helps to keep up with inflation.

Banks are paying up to 5% for CD’s right now, would you consider that greedy. Inflation, as stated by government entities is about 8% but in reality is closer to 20% so at 5% I lose money on a CD because it doesn’t increase in value. I have put some money in rental real estate. An example would be a single family house. Current value about $200000.00 rents for $1200 per month or 14400 per year. First glance would say it is much better than CD because return is about 12%. That is however not realistic since the local government charges me about $1500 per year taxes and Insurance is about the same. Most years there are some expenses for upkeep but we’ll ignore them for now, so about $11,000 a year or about 5-1/2 percent but the value of the house appreciates so it is actually much better than a CD, still way more than John Deere stock.

John Deere is not in business to help farmers grow their crops or to help people in their factories live the good life. Because they make a profit though they can do those things. If John Deere starts making less profit, then their stock value will go down. Sure the employees at the top make good money but if they let the dividends fall much lower than they are now they will get fired. If they can make enough profit to keep the stock owners ahead of inflation then they deserve every penny they get.

I don’t blame them for trying to get a better return on their money.


240 posted on 07/01/2024 1:04:22 PM PDT by JAKraig (my religion is at least as good as yours.)
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