So, this was in Bloomberg, this morning: https://www.bloomberg.com/news/articles/2024-10-11/boeing-to-cut-workforce-by-10-as-strike-eats-into-reserves?srnd=homepage-canada Boeing.
The company has to release 10% of its Labour Force as the current strike eats into company reserves.
I don’t know if anybody noticed, the Share Price went UP: https://www.google.com/search?q=boeing
The Union has had Whistleblowers possibly killed, Labour which has complained about the lack of competent materials to construct planes, and fought to have wages increased. So, the company has laid off capable staff who complained about the inability to build product, and the Share Price has gone up.
Because Share Price is irrelevant to Product produced…
And, just cause I like saying it, an airplane company that can no longer produce planes that can stay in the sky has shares worth $150, and increasing.
I don’t remember if anybody remembers the CEO of Boeing was paid $33 Million Dollars despite managing the company into futility. And, he didn’t have to pay any of the money back on his dismissal. But, the problem with reserves is the Union’s fault, not obvious mismanagement? Fiscal mismanagement? Company mismanagement?
Yesterday, I wrote about the Canadian oil industry, particularly shale, was developed to support Shares, not the actual industry. The World has more than enough oil. So, money created from nothing? Why I have always thought PM Harper didn’t know what he was doing. Friedrich Hayek?
Remember, Canada’s oil industry is added to GDP despite Canadian oil sold at a DISCOUNT.
Capitalism always evolves into the priority of Capital at the cost of Productivity.
And situations like Boeing evolve as a consequence.
Good fiscal management (Share value) is defended despite the decreasing validity of the product produced.
Literally, making money from nothing. This is not going to end well. Obviously.