Supply chain an excuse for price gouging
By Lethbridge Herald on April 1, 2022.
Editor:
I have watched large corporations making obscene profits under the guise of supply chain shortages due to the pandemic. One lumber company in B.C. posted earnings in 2021 of 800 million dollars, up from 219 million in 2020. That’s why we’re paying $10 plus for an eight-foot 2×4.
Oil companies posting record profits. I’m sure if you could see the year end fiscal reports of meat packing plants and food distribution companies , you’d see the same results.
Our utility companies see other companies getting away with it and jump on board.
This is being called inflation but let’s call it what it really is – profiteering.
There are laws to protect consumers from this, but you’d have to have a government with the political will and cojones to act on it, rather than accept it as the cost of doing business.
I guess what the consumers need is a convoy, but it would be a lot quieter and slower, since no-one could afford the gas
David Green
Lethbridge
10-9
Capitalism at its worst David!
the government is in line with this. they want to bankrupt everyone so they can do the great reset. they are also allowing corporations to downsize by firing non-vaccinated people. these people , due to regulation, cannot draw ei and probably cannot get another job because of their medical choice.
If we all stop buying lumber – then they’ll lower the price.
Also – Unfair to compare a business to its 2020 numbers (and not tell share its 2019 numbers).