Everything Business Thread

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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 11:14 am

Zarniwoop wrote:And you’ll get zero argument on anyone about that provided it was employee equity (original or deferred) that purchased the assets for the company.


Have you seen anyone on this site ever say Co-ops should be barred? That ESOPs should be illegal?

Did you know that ESOPs are mostly one share fractionally split among all the employees in the program?

I'm glad you're good with the idea of employee owned enterprise. It requires acknowledging that employees do and should have a stake in the business.

A few modifications to the law and perhaps we'll see more of it.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 11:26 am

I am 100% for employees bargaining for as much as they can get.


They have ZERO right to anything ... until they sign a legal contract to secure it


I am 100% for shareholders giving up stake in their firms should they do choose.
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 11:27 am

Zarniwoop wrote:They have ZERO right to anything ...

Wrong.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 11:46 am

yes I know you think that.


luckily most Americans and even m ore importantly...our courts disagree.
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 11:50 am

Zarniwoop wrote:yes I know you think that.


luckily most Americans and even m ore importantly...our courts disagree.

Why the hell do you keep saying that?
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 11:53 am

because you keep claiming workers have a right to things they don't.

so i'm being nice and correcting you.



in reality though...just like you i'm giving my opinion on a message board. feel free to read it or ignore it. no biggie either way. i'm bored right now. if I don't discuss this, i'll find something else to do.
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 12:17 pm

Zarniwoop wrote:because you keep claiming workers have a right to things they don't.

so i'm being nice and correcting you.

in reality though...just like you i'm giving my opinion on a message board. feel free to read it or ignore it. no biggie either way. i'm bored right now. if I don't discuss this, i'll find something else to do.

You keep suggesting that I'm over here advocating seizing capital. That's not true. Especially not for this outfit. I just want these employees taken care of.

Keep this up and you're gonna have me quoting William Jennings Bryan again.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 12:28 pm

Mountaineer Buc wrote:
Zarniwoop wrote:because you keep claiming workers have a right to things they don't.

so i'm being nice and correcting you.

in reality though...just like you i'm giving my opinion on a message board. feel free to read it or ignore it. no biggie either way. i'm bored right now. if I don't discuss this, i'll find something else to do.

You keep suggesting that I'm over here advocating seizing capital. That's not true. Especially not for this outfit. I just want these employees taken care of.

Keep this up and you're gonna have me quoting William Jennings Bryan again.


I'm not suggesting anything...in the case we are talking about...Sears...you have said that the employees should be taken care of in terms of severance. Sears doesn't have the money to do that. You then said they should be paid before the owners of the junk bonds.

Which of those things, if either, do I have wrong?
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 12:35 pm

Zarniwoop wrote:
Mountaineer Buc wrote:You keep suggesting that I'm over here advocating seizing capital. That's not true. Especially not for this outfit. I just want these employees taken care of.

Keep this up and you're gonna have me quoting William Jennings Bryan again.


I'm not suggesting anything...in the case we are talking about...Sears...you have said that the employees should be taken care of in terms of severance. Sears doesn't have the money to do that. You then said they should be paid before the owners of the junk bonds.

Which of those things, if either, do I have wrong?

No, they DO have the money to do that. They just don't have the money to do that after they pay off the bondholders.

Yes, the company is insolvent and thus entering bankruptcy, but that bankruptcy prioritizes the creditors over the employees and thus choosing to send them off for government subsidy that you and I pay for rather than compensate the employees with severance before liquidation. That debt can get refinanced and repackaged six ways from Sunday for the entity that emerges from the courthouse (Its Chapter 11 so we're talking reorganization here) So I see no need to subsidize Sears by letting them lay off 140,000 people for nothing.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 12:41 pm

Mountaineer Buc wrote:
Zarniwoop wrote:
I'm not suggesting anything...in the case we are talking about...Sears...you have said that the employees should be taken care of in terms of severance. Sears doesn't have the money to do that. You then said they should be paid before the owners of the junk bonds.

Which of those things, if either, do I have wrong?

No, they DO have the money to do that. They just don't have the money to do that after they pay off the bondholders.

Yes, the company is insolvent and thus entering bankruptcy, but that bankruptcy prioritizes the creditors over the employees and thus choosing to send them off for government subsidy that you and I pay for rather than compensate the employees with severance before liquidation. That debt can get refinanced and repackaged six ways from Sunday for the entity that emerges from the courthouse (Its Chapter 11 so we're talking reorganization here) So I see no need to subsidize Sears by letting them lay off 140,000 people for nothing.



by law they have to pay their creditors first. that is the debt they are going into bankruptcy over....to try to have those obligations reduced.
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 12:50 pm

Zarniwoop wrote:
Mountaineer Buc wrote:No, they DO have the money to do that. They just don't have the money to do that after they pay off the bondholders.

Yes, the company is insolvent and thus entering bankruptcy, but that bankruptcy prioritizes the creditors over the employees and thus choosing to send them off for government subsidy that you and I pay for rather than compensate the employees with severance before liquidation. That debt can get refinanced and repackaged six ways from Sunday for the entity that emerges from the courthouse (Its Chapter 11 so we're talking reorganization here) So I see no need to subsidize Sears by letting them lay off 140,000 people for nothing.



by law they have to pay their creditors first. that is the debt they are going into bankruptcy over....to try to have those obligations reduced.

Yes. And what I am saying is that the law should be changed to require severance for employees before they may use bankruptcy law to reduce or reorganize the debt.

My argument is predicated on the layoffs creating a public burden. It benefits the company to lay these folks off, but it does not benefit society.
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Re: Everything Business Thread

Postby Rocker » Tue Oct 16, 2018 1:21 pm

I agree with MB on this.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 1:28 pm

Rocker wrote:I agree with MB on this.



That's it...I'm changing my chart!!!!!!

You are now just left of Engels
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Re: Everything Business Thread

Postby Rocker » Tue Oct 16, 2018 1:31 pm

Zarniwoop wrote:
Rocker wrote:I agree with MB on this.



That's it...I'm changing my chart!!!!!!

You are now just left of Engels


Do you bite your thumb at me?
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Re: Everything Business Thread

Postby PanteraCanes » Tue Oct 16, 2018 1:32 pm

MB should be more than happy to know that Sears has probably paid for more than their fair share of the unemployment benefits. Considering they have been around a long time and probably been paying a ton of taxes for a long time. They have probably overpaid at this point.

https://eligibility.com/unemployment/where-do-unemployment-benefit-funds-come-from


The U.S. Department of Labor’s Unemployment Insurance program is funded through unemployment insurance taxes paid by employers and collected by the state and federal government. The taxes are part of the often-discussed payroll taxes all employers pay. Employers pay federal taxes of 6 percent on the first $7,000 in annual income earned by every employee. Employers who pay on time get a tax break at 5.4 percent.

The amount collected by each state varies as does the amount of income it is collected on—the first $7,000 to $34,000 an employee earns each year, depending on the state. States create their tax systems based on the costs needed to cover their unemployment claims. Contrary to popular belief, employees are very rarely required to pay into unemployment insurance. There are only three states—Arkansas, New Jersey and Pennsylvania—that ask employees to contribute and only in specific situations.
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Re: Everything Business Thread

Postby Zarniwoop » Tue Oct 16, 2018 1:36 pm

Rocker wrote:
Zarniwoop wrote:

That's it...I'm changing my chart!!!!!!

You are now just left of Engels


Do you bite your thumb at me?


Yes, as I lift my monocle higher to look down upon you
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 1:56 pm

Not enough, Pantera.

Don't go getting me started on the sham that is unemployment benefits.
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Re: Everything Business Thread

Postby Ken Carson » Tue Oct 16, 2018 7:00 pm

Mountaineer Buc wrote:
uscbucsfan wrote:What are you saying here?

I think it's great when companies offer stock options, but I feel like you are angling for a far more socialized version.

I'm arguing that the employees should receive severance from the company and that it be required by law. By working for that company they have stake in that company's success or failure.

Take care of the employees first, then the bankers can fight over the rest.

Have you played out the situation farther than that?

Let’s make this our neighborhood savings and loan and a newly opening store. What happens when your new law forces all the assets of the defunct business to the 25 employees and empties the savings and loan of the capital it has to invest, which is also the savings of the local community? Instead of 25 people finding new jobs, you have a completely dead business, a crippled or dead financial institution and a group of innocent people who lose their life savings so 25 people get some severance package.

Ironically, your policy would probably destroy small business and local financial institutions because they could not afford to make a loan that works for both parties, letting the mega banks completely control the industry.

For the record, this would be an area where I’d agree you’ve correctly identified a problem, but completely missed on a reasonable solution.
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Re: Everything Business Thread

Postby DreadNaught » Tue Oct 16, 2018 7:38 pm

Ken Carson wrote:
Mountaineer Buc wrote:I'm arguing that the employees should receive severance from the company and that it be required by law. By working for that company they have stake in that company's success or failure.

Take care of the employees first, then the bankers can fight over the rest.

Have you played out the situation farther than that?

Let’s make this our neighborhood savings and loan and a newly opening store. What happens when your new law forces all the assets of the defunct business to the 25 employees and empties the savings and loan of the capital it has to invest, which is also the savings of the local community? Instead of 25 people finding new jobs, you have a completely dead business, a crippled or dead financial institution and a group of innocent people who lose their life savings so 25 people get some severance package.

Ironically, your policy would probably destroy small business and local financial institutions because they could not afford to make a loan that works for both parties, letting the mega banks completely control the industry.

For the record, this would be an area where I’d agree you’ve correctly identified a problem, but completely missed on a reasonable solution.


Leftist (aka socialist) ideas could be bad for small business?
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 9:07 pm

Tonight I learned that severance pay is socialist.
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 9:22 pm

Ken Carson wrote:
Mountaineer Buc wrote:I'm arguing that the employees should receive severance from the company and that it be required by law. By working for that company they have stake in that company's success or failure.

Take care of the employees first, then the bankers can fight over the rest.

Have you played out the situation farther than that?

Let’s make this our neighborhood savings and loan and a newly opening store. What happens when your new law forces all the assets of the defunct business to the 25 employees and empties the savings and loan of the capital it has to invest, which is also the savings of the local community? Instead of 25 people finding new jobs, you have a completely dead business, a crippled or dead financial institution and a group of innocent people who lose their life savings so 25 people get some severance package.

Ironically, your policy would probably destroy small business and local financial institutions because they could not afford to make a loan that works for both parties, letting the mega banks completely control the industry.

For the record, this would be an area where I’d agree you’ve correctly identified a problem, but completely missed on a reasonable solution.

Ken, I think your scenario has way too many variables for me to mount any kind of "not true because" argument. So instead I'll address your primary concern.

I'm not suggesting the employees get all the assets and the bank can have what they don't want.

Im suggesting that while in bankruptcy, severance is paid to the employees that are let go. About a month's worth of payroll.

And a simple bond or insurance policy would ensure the money is available.

Once that is done, the business and creditors can do what they gotta do.

Banks have loan loss reserves. They can survive a default or two if they write good loans.
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Re: Everything Business Thread

Postby Ken Carson » Tue Oct 16, 2018 9:33 pm

Mountaineer Buc wrote:
Ken Carson wrote:Have you played out the situation farther than that?

Let’s make this our neighborhood savings and loan and a newly opening store. What happens when your new law forces all the assets of the defunct business to the 25 employees and empties the savings and loan of the capital it has to invest, which is also the savings of the local community? Instead of 25 people finding new jobs, you have a completely dead business, a crippled or dead financial institution and a group of innocent people who lose their life savings so 25 people get some severance package.

Ironically, your policy would probably destroy small business and local financial institutions because they could not afford to make a loan that works for both parties, letting the mega banks completely control the industry.

For the record, this would be an area where I’d agree you’ve correctly identified a problem, but completely missed on a reasonable solution.

Ken, I think your scenario has way too many variables for me to mount any kind of "not true because" argument. So instead I'll address your primary concern.

I'm not suggesting the employees get all the assets and the bank can have what they don't want.

Im suggesting that while in bankruptcy, severance is paid to the employees that are let go. About a month's worth of payroll.

And a simple bond or insurance policy would ensure the money is available.

Once that is done, the business and creditors can do what they gotta do.

Banks have loan loss reserves. They can survive a default or two if they write good loans.

The big banks that can afford the higher insurance and survive a defaulted loan would be fine. The local institutions’ costs would go up, meaning fewer loans and higher rates. This would push more and more people to the larger banks and make every default a major issue.

If your goal is to push more business to the banks and strengthen the large companies who can borrow money to invest better than your average Joe and make sure that Amazon, Wal Mart and other massive corporations always have an advantage, you are good to argue that position.

I thought we were looking out for the little guy? Or is looking out for the little guy making sure they get a month paid in addition to the unemployment benefits that are already able to be collected while they search for a new job, but not worry about the long term consequences of a few hundred feel good checks for $1800?
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Re: Everything Business Thread

Postby Mountaineer Buc » Tue Oct 16, 2018 9:36 pm

Ken Carson wrote:
Mountaineer Buc wrote:Ken, I think your scenario has way too many variables for me to mount any kind of "not true because" argument. So instead I'll address your primary concern.

I'm not suggesting the employees get all the assets and the bank can have what they don't want.

Im suggesting that while in bankruptcy, severance is paid to the employees that are let go. About a month's worth of payroll.

And a simple bond or insurance policy would ensure the money is available.

Once that is done, the business and creditors can do what they gotta do.

Banks have loan loss reserves. They can survive a default or two if they write good loans.

The big banks that can afford the higher insurance and survive a defaulted loan would be fine. The local institutions’ costs would go up, meaning fewer loans and higher rates. This would push more and more people to the larger banks and make every default a major issue.

If your goal is to push more business to the banks and strengthen the large companies who can borrow money to invest better than your average Joe and make sure that Amazon, Wal Mart and other massive corporations always have an advantage, you are good to argue that position.

I thought we were looking out for the little guy? Or is looking out for the little guy making sure they get a month paid in addition to the unemployment benefits that are already able to be collected while they search for a new job, but not worry about the long term consequences of a few hundred feel good checks for $1800?

Tell you what, we'll play out your concerns about unintended consequences tomorrow.
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Re: Everything Business Thread

Postby RedLeader » Wed Nov 21, 2018 1:11 pm

The private equity firms behind Toys “R” Us are each pledging $10 million to establish a severance fund for former employees. KKR and Bain Capital (which are not required under bankruptcy law to offer the fund) had faced continued criticism from employees and lawmakers over the lack of severance payments for former workers. The claim process is expected to begin Dec. 15.




Well, there you go...
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Nov 21, 2018 1:57 pm

Math comes out to about $660 per employee so let's not go christening Toys R Us Corporation of the year.
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Re: Everything Business Thread

Postby uscbucsfan » Wed Nov 21, 2018 3:33 pm

Mountaineer Buc wrote:Math comes out to about $660 per employee so let's not go christening Toys R Us Corporation of the year.

Due to how this is structure and employees who made over 110k or under 5k being left out an employee will receive anywhere from $200 - $12,800 as severance depending on how long they worked there.

That's a whole hell of a lot better than nothing...
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Re: Everything Business Thread

Postby Ken Carson » Wed Nov 21, 2018 4:21 pm

Mountaineer Buc wrote:Math comes out to about $660 per employee so let's not go christening Toys R Us Corporation of the year.

There is no pleasing some people.
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Nov 21, 2018 6:43 pm

Ken Carson wrote:
Mountaineer Buc wrote:Math comes out to about $660 per employee so let's not go christening Toys R Us Corporation of the year.

There is no pleasing some people.

yeah, I'm sure they're greatful.

Doesn't change the fact that the only reason they lost their jobs in the first place was so some rich ***holes could make a little more.
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Re: Everything Business Thread

Postby Ken Carson » Wed Nov 21, 2018 8:35 pm

Mountaineer Buc wrote:
Ken Carson wrote:There is no pleasing some people.

yeah, I'm sure they're greatful.

Doesn't change the fact that the only reason they lost their jobs in the first place was so some rich ***holes could make a little more.


:shock:

That or their big box, single focus business model was completely destroyed by Amazon and Wal Mart. Maybe you frequented your local Toys R' Us, but I haven't been in one in 10 years, and I've bought goddaughters, nieces, nephews and my own daughter probably a hundred or more gifts from Amazon in that time.
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Re: Everything Business Thread

Postby Mountaineer Buc » Wed Nov 21, 2018 9:42 pm

Horseshit.

It's numbers on a piece of paper. TRU was a going concern right up until some ***hole used the assets to leverage some other investment and saddled the company with debt it couldn't service.

Those employees went about their jobs and sold a **** ton of toys every year. Now they're doing something else for no other reason than the actions of some ***hole who sold them out and now we're all supposed to heap a ton of praise that some of them get an average of $600? How much did state govenments pay out this year in unemployment and food stamps due to this greedy bullshit?

You need to get that corporate **** out of your mouth.
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