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Woolworths, Coles sued by ACCC for ‘misleading’ price drop claims
(www.smh.com.au)
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this post was submitted on 23 Sep 2024
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They are trying to blame “inflation”, but at the same time they are reporting record profits.
The dumb thing is that inflation is measured by the increase in colesworth prices.
Isn't that the same thing though? If inflation is at record high, their equivalent profits in dollars will be up because money is now worth less
Profits have increased as a percentage of revenue (i.e. profit margins have increased).
https://www.abc.net.au/news/2023-02-23/supermarket-profits-surge-as-inflation-spikes-coles-woolworths/102004616
Profit goes brrrrrr
Let's start a non profit supermarket chain
A cooperative is one way to start on that: https://www.abc.net.au/news/2024-07-10/supermarket-alternative-co-ops-save-money/104078660
Their definition sounds like too much work, would be better to pay someone to do the work
I get the joke, but actually...yes. A co-op doesn't mean the people actually doing the work don't get paid. It actually doesn't even mean not-for-profit, just that the people profiting aren't shareholders, but people who actually have a direct stake in the business. That can be a customer-owned co-op, supplier-owned, worker-owned, or some combination of those. Those groups would be the ones making any profit, in a for-profit co-op. And in a not-for-profit worker- or supplier-owned co-op, the workers (including the CEO) and suppliers still get paid—they're just able to be paid more while selling goods for the same price, or paid the same while achieving a lower price, than a non-co-op business would.
Greedy capitalists are conflating themselves while lying? Nooo! //S