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All three are excellent points.
ReplyDeleteDu Bois' comment is accurate. When the general population makes enough money to have a great quality of life, the entire population benefits.
ReplyDeleteFoose's comment strikes me as him wanting younger people to get excited about his "designs" and to build them for him.
I never have figured out why Tesla's stock price has always been quite elevated over other car companies. Plus he keeps building plants and spending money, which he gets from where? Profits that aren't passed onto investors?
From the time the first "new Chrysler product" fell from the ceiling in Detroit, Chrysler was making money big time and minting many golden eggs. Stock dividends went up as corporate profits did, employee profit sharing was close to $10K per worker, vehicle sales increased greatly, savings to fund future products were stashed away, and everybody was happy . . . except Kerkorian (a long time friend of Iacocca) who felt the company was not paying enough in stock dividends. Every year, for several years, each new model resulted in a doubling of the prior year's stock price. Iacocca had retired after the K-cars, but wanted back in and Kerkorian (his friend) was going to help him, so Daimler was invited to stop that, which basically killed the company in many ways. And that's another story.
Thing is that when smaller companies get successful, too successful for some, then "buyouts" usually happen as the smaller companies are gobbled up by larger companies seeking to expand. Macy's is s great example!
Can't forget the oil companies in this mix, too!
Cdadbr - Thank you for that interesting history lesson.
ReplyDeleteI have always appreciated DuBois' insights and found them to be compatible with my own beliefs. However, nothing, absolutely nothing, about Elon Musk impresses me - not his wealth, not his business acumen (44 billion for Twitter - really?), not his Teslas, which are over-priced playthings and not affordable or practical for most people, not even his alleged "giant cock" (google it). Oh yes, he supposedly has a "giant" dick. Or, he is one!
ReplyDeleteAnon@9:40am - Musk IS one.
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