Its The Economy, Stupid - Economic & Business News From Around The World

Fwiffo

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more than before. if you knew how shitty working for tips is then you know how much freedom you'd get from not having to kiss ass and take shit. for women there is also the sexual harassment, which is severely underreported.
On the contrary, I was looking at it from the vantage point of the owner who was supportive in the article. In actuality my home province raised the minimum wage and owners worked around it by shrinking a shift of 4 to 3 to offset the costs.
 

Fwiffo

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"He said Uber and Lyft were used on average some 30 times a year per person, which was not enough for the firms to make a profit."

I must use Uber at least 4x per week. More if I am on business travel. I must be keeping them in business.
 

Fwiffo

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I actually thought they went under a few weeks ago so I was surprised to see them making giant (not yet bankrupt) sales in a mall nearby.
 

Fwiffo

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Another all time high. Makes me sad I pulled out in July.
 

Fwiffo

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“'You don’t take your lunch break. You don’t use the bathroom. ... There were guys peeing in bottles in the van,' Rowe said, adding that he did the same. 'You speed. You run stop signs in a neighborhood. ...You start conditioning yourself to just go as fast as possible.'”

I now have reservations touching my Amazon packages.

"She said she was put in charge of managing people without any management training, and that some drivers were assigned routes that took hours longer to complete than Amazon had anticipated."

The vast majority of people are put in management without any management training. Get in the queue lady.
 

Pimpernel Smith

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The vast majority of people are put in management without any management training. Get in the queue lady.
Indeed, the skills of management can only be forged in the heat of stress and pressure. There's no real academic training from that, vocational maybe, but there ain't no training that can covers the dynamic adequately. At the tactical level, you need to be better than anyone else and that will give you the edge to get and stay ahead.
 

Fwiffo

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"Elkann, upon his first visit to see Marchionne in a Zurich hospital, was denied entry into the intensive-care unit because doctors said it would violate the patient's privacy. When Elkann visited the hospital three days later, on July 20, he met with Marchionne's partner, Manuela Battezzato.

'And, after speaking with her, [Elkann] came to the realization that his CEO was never coming back,'

'Although the exact nature of his illness hasn’t been officially released, Marchionne knew he was seriously sick a year before he died,' the book says. 'In the weeks before he suddenly vanished into the hospital in Zurich, he appeared pale, swollen, and weak even as he worked his mobile phones, running his automotive empire. Everything went silent after he went into surgery on June 28. '

'Only Battezzato and his closest relatives knew he was being hospitalized. Everyone else -- including Elkann, who’s Fiat’s controlling shareholder; the company’s top executives; and the board of directors -- was left in the dark.'"

I was reading Time's recap of 2019 and remembered about Sergio Marchionne who grew up in my hometown and is part of my alma mater. Pretty selfish and I assume overly confident he would recover from cancer by taking his company into the abyss like that.
 

Fwiffo

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London is ahead of New York?

Brussels is ahead of my hometown?

Berlin is there but Frankfurt isn't?
 

Pimpernel Smith

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This is going to make the 2008 Great Recession look like a regular recession.
I've got my request in for the Dutch ''NOW'' funds to cover the staff costs for next 3 months. My forecast is 80% drop in business and limited work and mobility throughout 2020 and beyond. A core business will remain, but all the mega-projects are moth-balled already 9-12 months. Capex expenditure being slashed worse than ever. There'll be blood on the streets before this is all over.
 

Fwiffo

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I've got my request in for the Dutch ''NOW'' funds to cover the staff costs for next 3 months. My forecast is 80% drop in business and limited work and mobility throughout 2020 and beyond. A core business will remain, but all the mega-projects are moth-balled already 9-12 months. Capex expenditure being slashed worse than ever. There'll be blood on the streets before this is all over.
Yeah here we need to prove 30 percent drop in YOY revenue. The problem is we made money in the first half of March as restrictions and lockdown didn't start applying until after the full Italy quarantine.

Then our parent company in the fatherland didn't want us to beg for money from the government and make us look like corporate beggars a la the Great Recession bailouts.

When we said we'd need to do XXM cuts in expenses they balked and said maybe that's too much. What about the people? This isn't socialist Europe. This is North America. There isn't a safety net and if we need to put people on the street we better do it whilst there is some semblance of a firm to save.
 

Pimpernel Smith

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Yeah here we need to prove 30 percent drop in YOY revenue. The problem is we made money in the first half of March as restrictions and lockdown didn't start applying until after the full Italy quarantine.

Then our parent company in the fatherland didn't want us to beg for money from the government and make us look like corporate beggars a la the Great Recession bailouts.

When we said we'd need to do XXM cuts in expenses they balked and said maybe that's too much. What about the people? This isn't socialist Europe. This is North America. There isn't a safety net and if we need to put people on the street we better do it whilst there is some semblance of a firm to save.
The Germans are going quiet for a reason. Hence they're using the Netherlands to beat down Italy. Methinks, it's not all okay over there. But don't tell anyone.

Here we need to demonstrate against a slowdown in any of the yearly quarters in 2019. I had a mega first 3 months this year and some of my field operatives were earning big bucks like the old days, all gone in the last several days. So 1-April is the point of sheer reflection point and contraction. Can't get in or across borders now. Remote work, inefficient and doesn't capture the dynamic and three dimensional reality of our sector. Italy grasping at straws coming back on production before the decree ends, not going to help them.

Done what I can do to survive and keep the business going. There will be structural changes, most definitely. Some working from home will not return to the office, their positions will be gone.

I intend to spend the next few months getting fit in the garden and strategic thinking.
 

Fwiffo

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_111781061_imf_gdp-nc-2.jpeg


Anyone else wanting to say quarantining ourselves is a good idea? October might be a good time to let people out. School's out till 2021. This is the new normal for the next year or two. Absolute bollocks.
 

güero

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I'm pretty sure he's trolling. I've never met anyone who actually gives a shit about the economy.
 

Fwiffo

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you'd rather them all just die?
Some of them were probably on their way out anyway. We should leave it up to the theory of evolution and Darwin. Survival of the fittest. Right now we are castrating ourselves regardless of fitness or aptitude to survive and enduring a slow and inevitable death until all of society collapses.
 

Rambo

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Some of them were probably on their way out anyway. We should leave it up to the theory of evolution and Darwin. Survival of the fittest. Right now we are castrating ourselves regardless of fitness or aptitude to survive and enduring a slow and inevitable death until all of society collapses.
here's a question for you - is the society properly constructed if it can't withstand the problems its presented?
 

Fwiffo

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here's a question for you - is the society properly constructed if it can't withstand the problems its presented?
We could well argue this if society was the victim of dodgy derivatives wreaking havoc on the financial system, a world war, alien invasion, environmental disaster, or any other external factor.

This is self-immolation. No one is precipitating this other than ourselves.
 

Rambo

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We could well argue this if society was the victim of dodgy derivatives wreaking havoc on the financial system, a world war, alien invasion, environmental disaster, or any other external factor.

This is self-immolation. No one is precipitating this other than ourselves.
well we failed miserably when there was a crisis featuring dodgy derivatives. every time there is an environmental disaster we fail miserably as well. is it really any surprise we're failing miserably at this?

i think you'll end up getting your wish by next month. more grist for the mill.
 

Fwiffo

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well we failed miserably when there was a crisis featuring dodgy derivatives. every time there is an environmental disaster we fail miserably as well. is it really any surprise we're failing miserably at this?

i think you'll end up getting your wish by next month. more grist for the mill.
We're only failing because we are inflicting it on ourselves. We literally pressed the off button. There weren't any off buttons for the other instances.
 

Rambo

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Fwiffo

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Lets hope
What do you have against 300 dollar/per person dinners?

So what's your dollar value per life anyway.
Isn't that dependent on how much value you generate? Person in poverty in a sh@hole country versus the inventor of TikTok.

I'm sure if one feeds all the data to an actuary then they can calculate the scenarios.
 

Pimpernel Smith

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30 percent decline in economic activity in Canada in Q2. 35 percent in the UK in Q2. Now this...
It's not like a normal recession, in that a lot of that activity can be turned back on. A recession was already on the cards here in Europe, but a lot of the economic activity will bounce back immediately.
 
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