Profits

McDonald’s Records Sales Downturn Over Israel Support

February 6, 2024 News Desk, The Cradle. Resist! BDS Movement, boycott, Israel, McDonald's, Palestine, Profits

McDonald’s Corp. missed investor expectations as sales growth decelerated in the fourth quarter of last year, partially due to their support for Israel, Bloomberg reported on 5 February. The sales pace is the slowest since the fourth quarter of 2020, below the average estimate of analysts. Global same-store sales only rose 3.4 percent during the final business quarter of 2023, well below Wall Street's expected 4.7 percent increase. Sales expectations were lowered following comments made by McDonald’s CEO Chris Kempczinski in January, when he stated that markets in West Asia and others outside of the region were facing a “meaningful business impact” because of the war between the Palestinian resistance and Israel.

Big Companies Earned Over USD 1 Trillion Of Profit In 2022

July 9, 2023 Abdul Rahman, People's Dispatch. Educate! Finance and the Economy, Greed, Hunger, International Monetary Fund, Profits, Taxes

A recently published joint study conducted by Oxfam and Action Aid claims that the total windfall profit of the world’s 722 top companies crossed USD 1 trillion for the second consecutive year in 2022. The study notes that this figure, which is higher than the GDP of a majority of countries in the world, reflects an “obscene” and “immoral” quest for higher profits by the rich, who have exploited the global crisis of energy and food price inflation and higher interest rates in the last two years caused by multiple factors including the COVID-19 pandemic and the war in Ukraine.

On The Sunshine Coast, An Effort To Reinvent Senior Care

May 2, 2020 By Paula Larrondo and John Richmond, TheTyee.ca. Create! COVID-19, health, Longterm care, Profits

Overwhelming is the only way to describe the daily dose of tragic stories about vulnerable elders dying in mostly for-profit, long-term care facilities, such as the one in Washington state where our regional COVID outbreak began two months ago. But this should not be a surprise. The for-profit nursing home business has been in trouble for years. In February, B.C. Seniors Advocate Isobel Mackenzie tabled a report documenting many of the shortcomings of the for-profit care sector, such as higher administration costs and 207,000 funded but undelivered care hours. This is in contrast to a non-profit sector that actually spent more per resident than it was funded for on delivering direct care and service delivery. While the for-profit system has clearly failed, the non-profit system has its own problems.

St. Vincent Hospital Nurses Face Furloughs Amid COVID-19 Crisis

April 17, 2020 Mark Conti, Telegram.com. Educate! COVID-19, health, Nurses, Profits

Worcester, MA — On the same day Gov. Charlie Baker announced that Massachusetts was in a COVID-19 surge, nurses at St. Vincent Hospital are facing furloughs. St. Vincent Hospital nurses on the union negotiating committee on Wednesday unanimously rejected a proposal by Tenet Healthcare, the for-profit company that owns the hospital, that the nurses said would require them to work independently in areas of the hospital in which they did not have proper training or experience. “They’re asking us to agree to a mandatory furlough of nurses,” said Marie Ritacco, a nurse in the post-anesthesia recovery area, PACU. “We’re expecting the surge. We need to keep every nurse.”

Waffle House Puts Profits Over People In The COVID Era

April 16, 2020 Liberation Staff Asheville, Liberation News. Educate! COVID-19, health, Profits, Worker Rights

Waffle House, like many struggling industries across the country, has chosen to place the burden of its lost profits on the shoulders of those who keep it running every day of the year. COVID-19 has brought opportunity again and again for corporate entities and long-standing business empires to ravage the pockets of their workers, those whose labor has lined corporate pockets for generations. The capitalist class has, not unexpectedly, proven itself unwilling to place human lives over profit-hoarding and welfare for the rich. The Party for Socialism and Liberation’s own Jason Carroll reports directly from the front lines of this struggle, bringing to light the unconscionable disregard Waffle House has shown for its workers in this crisis, and long before.

Profiting From Loss: How Business In Illegal Israeli Settlements Continues Unchecked

March 3, 2020 Staff, Jonathan-cook.net Educate! Israel, Nationalism, Occupation, Palestine, Profits

After lengthy delays, the United Nations finally published a database last week of businesses that have been profiting from Israel’s illegal settlement activity in the West Bank. The UN High Commissioner for Human Rights, Michelle Bachelet, announced that 112 major companies had been identified as operating in Israeli settlements in ways that violate human rights.

Globalization And Our Precarious Medical Supply Chains

March 2, 2020 F. William Engdahl, Journal-neo.org Educate! China, Coronavirus, COVID-19, Globalization, Medicines, Profits

The grave risks and dangers in the process of worldwide out-sourcing and so-called globalization of the past 30 years or so are becoming starkly clear as the ongoing health emergency across China threatens vital world supply chains from China to the rest of the world. While much attention is focused on the risks to smartphone components or auto manufacture via supplies of key parts from China or to the breakdown of oil deliveries in the last weeks...

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