pull down to refresh
I think they didn't have to sell out because they're privately owned, right? Fiduciary duty is the most commie crap that destroyed everything.
That's an interesting take and very reasonable. But what could be done to encourage more private vs public / equity financed ownership?
Most effectively, by deliberately not shopping at Walmart, Giant, Safeway but at smaller shops. Reducing barriers for mom&pop shops to hook into gig services and making sure they aren't being ripped off by the middleman (by removing the middleman? who was working on decentralized delivery? I forgot.)
You'll pay more but you'll be happier (and potentially, healthier)
I wonder if we have historical examples of consumers simply making better choices leading to better business practices
Hmm... fair trade chocolate. See https://fairtrade.net/us-en/why-fairtrade/impact/impact-stories/tonys-chocolonely.html - in NL there is barely any slavery-chocolate left - all chocolate across all outlets is fair trade (and expensive)
I've never heard about slavery chocolate. What are the specifics?
I've just been reading King Leopold's Ghost, though (slavery in the Congo, for harvesting rubber) so I was learning about how in the 1890's through about WWI there was basically slavery in the Congo, set up by King Leopold of Belgium.
When you have nameless faceless people appointed to your leadership board they sway business decisions in a major way. Co-ops and family owned companies seem to have more of a philosophy of providing top notch service to their customers. Plus everything isn’t always about growth at all costs.
Think of wegmans posted same store revenue declines by like 5% the stock price would tank and the board would look to cut costs and just laying off people and closing low performing stores.
Yeah this is why I boycott Walmart! It’s absolutely ridiculous how they run that business.
Also why I’m so critical of Warren Buffett. I think the GFC would have really damaged his returns due to the corporate debt daisy chain.
I often think who is holding Ford’s $100B+ of debt!! Who would get wiped out if they stop making payments and more importantly who is using that debt to take on more leverage!
Yeah Wegmans is family owned and operated started in Rochester, NY.
Yea it truly did destroy everything. The overproduction of MBA. At college all the kids who couldn’t hack engineering became business majors. Much easier undergrad courses = more time to party and still get a decent GPA.
Then these meh students get plugged into companies and we get what we have in 2025. No one cares about quality
Absolutely. Wegmans and In and Out burger never sold out to the fiat system trying to drive costs to zero to maximize profits at all costs at the detriment of their customers and employees.
I wish I could own shares in these two great principled companies.