P&O in financial difficulty

clarinetbcn · Mar 24, 2022

GrannyJen said:
What would you propose instead?

Regulated capitalism, to do away with “corporate socialism” where corporations keep profits, avoid paying taxes, and shift losses to the public treasury re: public bailout of private banks in the 2008-2009 collapse caused by deregulating banks, allowing them to engage in the same risky behavior that had been prevented by regulation since the 1929 crash. The worst case of corporate socialism that I know is Walmart in the US, the largest employer in the US after the U.S. military, a family of the wealthiest people on the planet who pay part of their employees’ minimum wage salaries with public subsidies. If you work full time at Walmart and are a family of four, your salary puts you below the poverty line and you receive public money to buy food.

vmaxkiddy · Mar 25, 2022

Joker 1299 said:
No, the love of money is the route of all evil (to be pedantic)

No, The love of money is the root of all evil (to be correct)

Vagophile · Mar 25, 2022

This thread has come a long way from the original post.
To return, the admitted fact that what P&O did was a calculated illegal act does seem to indicate that some sort of government intervention and future regulation is required.
As to which governmental system is most appropriate, for a lot of individuals it depends on where they find themselves in the social/financial hierarchy.

WelshGas · Mar 25, 2022

The problem with these Global firms is the Owners are in one country HQ in another and in this case the Ferries are registered in a 3rd country and the crew employed from a 4th country. So which judiciary has premacy overall.

Most ferries operating across the channel/North Sea seem to have crew from the UK and EU. We're no EU crewmembers made redundant?

GrannyJen · Mar 25, 2022

Dave Wickham said:
A government run by people with morals and human dignity - an idealistic expectation perhaps but still worth wishing for. There are some countries that have achieved a somewhat fairer society by more open government - look at the Nordics for example, perhaps not utopia but a damn site better than the crap we have here in the UK. No doubt there will be a barrage of negative comments about this post because, lets face it, whatever one says there will be someone with a perverse pleasure in disagreeing.

clarinetbcn said:
Regulated capitalism, to do away with “corporate socialism” where corporations keep profits, avoid paying taxes, and shift losses to the public treasury re: public bailout of private banks in the 2008-2009 collapse caused by deregulating banks, allowing them to engage in the same risky behavior that had been prevented by regulation since the 1929 crash. The worst case of corporate socialism that I know is Walmart in the US, the largest employer in the US after the U.S. military, a family of the wealthiest people on the planet who pay part of their employees’ minimum wage salaries with public subsidies. If you work full time at Walmart and are a family of four, your salary puts you below the poverty line and you receive public money to buy food.

Yep.

Agree with both.

The two great failures of capitalism that I have seen this century is the lack of accountability, as seen by the banking crisis, and also the failure to tax the global online corporations. Geoff Bezos taxed on his second and subsequent billions would go a long way to eradicate hunger in the third world.

Ozzy Pete · Mar 25, 2022

GrannyJen said:
Yep.

Agree with both.

The two great failures of capitalism that I have seen this century is the lack of accountability, as seen by the banking crisis, and also the failure to tax the global online corporations. Geoff Bezos taxed on his second and subsequent billions would go a long way to eradicate hunger in the third world.

Come on be fair. If he didn’t have all these Billions who else would send Captain Kirk into space FREE..