91–100 of 171 posts
A reminder that Tyson is abusing the legal system to force people in the American south into working in their chicken plants for free: https://revealnews.org/article/they-thought-they-were-going-... I don't know every brand that uses Tyson products, but when I discover something is coming from a Tyson factory I stop purchasing it.
I read a story of a Latino immigrant Mom who worked the night shift cleaning a slaughterhouse every night. Wet, slick surfaces and sharp objects everywhere. The Mom was hired as a contractor through a third party company. She fell and was injured at work, because she wasn't an employee of the bigger company she wasn't entitled to any compensation or help, just fired from the third party company which also provided no…
The word "monopoly" implies one dominant company ("mono-" meaning one), but industries with 2 or 3 companies are still unhealthy for a few reasons. First, it's pretty easy for 2 or 3 companies to price fix, which is against anti-trust laws. Second, a healthy market requires that it be easy for new companies to enter the market and compete, and if there's only a few dominant companies, then clearly new competitors are…
I am not too in the weeds on this particular issue, but it seems not that crazy to me that "the biggest four companies" produce 55% of the US's chickens. Presumably that means there is much more than four who register in at above a couple percent nationally and possibly even at a local level different players. Its also for one market. While I eat a lot of chicken, I could substitute it for other foods or meats. To be…
What, were the Vikings running a global monopoly on grain or something?
I was really interested in the figure that shows prices going up while input costs decrease. But this doesn’t reflect all inputs just the price of meat procured. There are many other input costs, mostly labor. So this diagram is really frustrating as it makes me want to reach a conclusion (wtf, what an unnatural difference) without giving me enough information to know anything. It would be like showing that household…
The author arbitrarily picked an outlier looking peak to start the graph vs consumer pricing to severely bias the graphs. May 2020 (graph 100 index) has a price index of 265, but April 2020 is 185 and Jun 2020 is 194. https://fred.stlouisfed.org/series/WPU0221 *edit April not Feb *Edit2: Linked wrong graph, but correct graph is like the same trend. Thank you for the correction.
How does this bias manifest? It looks like what you linked is comparing something different but I wonder if I am misunderstanding.
Earlier quoted context omitted.
> In general, I don’t know if they answer properly if profits increased because of inflation or if inflation increased because of inflation. Since the cartel existed before the shift, I would like to know what they think made companies suddenly get greedier. That's my big question too with all this "greed driving inflation" discourse. I don't doubt it at all, in fact, from everything I see it seems like the likeliest…
The price of inputs is going up, but so are interest rates (and expected future interest rates). So where money was cheap, it's going to become more expensive. I suspect it's understandable a business would want to increase its margins given the expectation of higher rates -- as opposed to the personified "greed" narrative.
I read a story of a Latino immigrant Mom who worked the night shift cleaning a slaughterhouse every night. Wet, slick surfaces and sharp objects everywhere. The Mom was hired as a contractor through a third party company. She fell and was injured at work, because she wasn't an employee of the bigger company she wasn't entitled to any compensation or help, just fired from the third party company which also provided no…
Of course, companies claiming you aren't entitled to compensation right up until you show them they are unlikely to get away with that by bringing in state authorities (if applicable) or your own lawyers is... very much a cost avoidance technique that is used often in practice. Especially against the Latino immigrant community where even legal immigrants and naturalized citizens are still operating in a culture of reluctance to engage with government or legal process, employers know this and exploit it.
Earlier quoted context omitted.
> The question is why didn't competition undercut them to keep prices low as it had before. This question is answered by the title of the article.
Not really. The article doesn't have any evidence of collusion at all. 4 competitors should be more than enough to prevent abuses of market power.
Instead small farms such as myself are forced to do stupid things like sell the meat to somebody 'on the hoof' and then have it custom cut by a butcher, because getting the meat processed and cut at a FDA inspected facility, if you can get into one, adds $1-3 a pound. This also means I can only sell you a quarter beef or larger. Which most consumers don't have the money or the freezer space to do.
Earlier quoted context omitted.
I find it more shocking that, despite the terrible reported conditions at the plant, most people stayed there because it was preferable to prison. If that is preferable to their prisons...
I'd rather go to prison. Take the gamble, at least prison has time off for good behavior and over crowding. This program looks like its designed to drain you of everything for as long as possible.
A reminder that Tyson is abusing the legal system to force people in the American south into working in their chicken plants for free: https://revealnews.org/article/they-thought-they-were-going-... I don't know every brand that uses Tyson products, but when I discover something is coming from a Tyson factory I stop purchasing it.
I only saw Simmons Food Inc here, does Tyson do it too?
“Simmons signed on. Later, Crystal Lake Farms and Tyson Foods Inc. did, too.”