340,000 people in TORONTO had to use food banks last month because they can't afford food!!! Tell me again how much profit Galen Weston made this year selling expensive groceries???
340,000 people in TORONTO had to use food banks last month
- Thread starter Claudia Love
- Start date
Galen Weston died just a while ago actually. The profits that the groceries stores make are good for the economy, the government collects corporate taxes and uses it to do many things including financing social services. Free enterprise is nobody else’s business and the less government control the better as long as no laws are being broken.
There is no means test to use the food banks and there is significant evidence that able bodied people who can work but choose not too and retired seniors who want to save money bank are coming in as soon as the doors open and cleaning the places out.
Government run enterprises very rarely make a profit with the LCBO being one exception.
Would food cooperative like they have in Cuba and North work where people must grow their own food for a few moths each year to take pressure of the state or kibbutzes work in coddled Canada, probably not.
Many things are getting much more difficult for many but we are not in a communist society where corporate profits are a crime and should be confiscated and shared with the masses. Nobody is starving in Toronto, at least not yet.
Do you think that the incompetent governments should regulate the prices of food sold by the grocery chains ? This would be a very bad idea for the economy for many reasons.
Its been like that for over 40 years. The gap between the rich and por is widening while middle class is shrinking.
If you agree that its normal that a CEO gives himself a 25 million bonus while his employees got nada you are fucked up and you are part of why we got there.
If you agree that its normal that a CEO gives himself a 25 million bonus while his employees got nada you are fucked up and you are part of why we got there.
Well, Loblaws is a public company so if you want to know how much profit Loblaws makes you could simply look it up rather than just running off at the mouth.
I know you weren't aware of that, so I did that for you....
Loblaws made a profit of 390 million dollars. You probably think that's a lot because you don't understand the concept of profit margin.
Loblaw's profit margin is 3.04 percent. They had revenues of 12.85 billion dollars. That's hardly a large profit margin. Some might say "razor thin" even, but that's a comparison I usually reserve for airlines.
I know that doesn't mean fuck all to you as you are convinced (and I doubt you'll ever change your mind) that Gaelen Weston is to blame for the price of food.
So let me explain it to you in a way you'll understand.
It's like say if you brought in a hundred thousand dollars working in your field of expertise as an escort. You've had sex with men and in total you've made 100 thousand dollars. That's your revenue. Now you need to pay all your expenses. You need to pay your booking agent, your manager, your accountant, your makeup, your lingerie, you condom supplier, your hotel bills, everything. You pay all of those costs and at the end of the day, if your profit margin was 3.04 percent like Loblaws is, you'd earn $3,040.00. Yep, after all that work, you walk away with three grand to your name. Would you still do it?
Boom.
Oh and Loblaws employs 200,000 Canadians.
I know you weren't aware of that, so I did that for you....
Loblaws made a profit of 390 million dollars. You probably think that's a lot because you don't understand the concept of profit margin.
Loblaw's profit margin is 3.04 percent. They had revenues of 12.85 billion dollars. That's hardly a large profit margin. Some might say "razor thin" even, but that's a comparison I usually reserve for airlines.
I know that doesn't mean fuck all to you as you are convinced (and I doubt you'll ever change your mind) that Gaelen Weston is to blame for the price of food.
So let me explain it to you in a way you'll understand.
It's like say if you brought in a hundred thousand dollars working in your field of expertise as an escort. You've had sex with men and in total you've made 100 thousand dollars. That's your revenue. Now you need to pay all your expenses. You need to pay your booking agent, your manager, your accountant, your makeup, your lingerie, you condom supplier, your hotel bills, everything. You pay all of those costs and at the end of the day, if your profit margin was 3.04 percent like Loblaws is, you'd earn $3,040.00. Yep, after all that work, you walk away with three grand to your name. Would you still do it?
Boom.
Oh and Loblaws employs 200,000 Canadians.
Last edited:
You don't think making profit of almost 400 million is enough to make noise about? while there skyrocketing our grocery prices and some cant even pay rides to get to food banks because EVERYTHINGS expensive. You sir do not relate to the poor by the way your talking .The struggle is very real. More and more homelessness is stationing in parks and forests like for example I was going to go for a walk in a park and a guy stopped me and said dont take your purse being alone you'll get robbed by the tenters. Desperate times for desperate measures.
you need to show them government ID
proof of expenses
proof of income
without ID you get a loaf of bread
People on welfare or ODSP become qualified
the working class must prove the above listed and they do not give to those making a decent wage.
Frequently Asked Questions - Daily Bread Food Bank
What happens when I arrive?
When you check in, you will be asked to voluntarily share information like how many people are in your family, your income, housing status, education etc.
During this interview, providing identification for members in the household is helpful, but not required.
Personal information is confidential, and is used by Daily Bread to better understand our clients’ circumstances, and to advocate on their behalf.
Do you share my information with anyone?
Personal information is not shared with other organizations outside of Daily Bread’s network. We do not share your information with the government, including Ontario Works or Citizenship and Immigration Canada. You do not have to provide the requested information in order to access food. You should never be denied food at any Daily Bread member food bank.
What happens when I arrive?
When you check in, you will be asked to voluntarily share information like how many people are in your family, your income, housing status, education etc.
During this interview, providing identification for members in the household is helpful, but not required.
Personal information is confidential, and is used by Daily Bread to better understand our clients’ circumstances, and to advocate on their behalf.
Do you share my information with anyone?
Personal information is not shared with other organizations outside of Daily Bread’s network. We do not share your information with the government, including Ontario Works or Citizenship and Immigration Canada. You do not have to provide the requested information in order to access food. You should never be denied food at any Daily Bread member food bank.
junkies of course will use the food bank but I got news for you sir these detailed organized thieving rings that go on through the province are not done by junkies there done by people living in big houses with cars and assets and basically there fraudster contraists that make a living by these big stealing rings they are sophisticated well thought out preplaned crime the averagege addict can not pull off such a heist because of the shape their in. I Donated food to a girl who was crying on Easter at the McDonald's that she had no Easter dinner .....I got news for you the people donating know what its like to do without its the fuckin people that never struggled that seem to be the most judgemental of them all. until it happens to them they heal like a dog ion shame because they think there better than another living soul that never new a drug would drag them by the balls or that person had serious abuse all through childhood and problems as an adult or cant work cause poor health
Help me Captain on this profit margin and revenue concept. Grocery stores turn over inventory so that razor thin 3% margin actually is multiplied by the times it is turned over in a year.
I am not an economist but let's set out and say you invested $100 in a company that only made $1 (1%) profit on a sale. Not good - your friends are laughing at you but you sold your inventory in one day. The next day you sold another $100 for $1 in return. By the end of the week, my $100 now has made $7. Revenue is $700 , $7 still represents 1% profit but I would argue that my $100 investment is humming along at a rate that doesn't quite fit the escort scenario above.
Anyways at the end of the year I sold $ 36,500 at a paltry 1% profit. Oddly for my $100 running investment, I just earned $365 ( 365% return on investment). I am just winging it here but I think you must factor in inventory turnover if you are emphasize 3% as a razor thin 'profit'. I believe Loblaw's June quarterly inventory turnover was ~ 1.62/qtr. Ignoring any seasonal abnormalities ~ 6.5 /annual.
It is a stretch and I admit my lack of credentials here but I suggest gross return on investment would be more in the 18% level. I wouldn't try to estimate what is the ideal return for an irreplaceable depreciating asset (the escort contractor) is but I don't think it is fair suggest it would be similar to an effectively inflation proof corporation (we will always eat).
Maybe Boom = Pop ?
I am not broke, but I do save on grocery costs from dumpster diving.
Weekly I pick up one day old Kaiser buns from a sandwich shop near my house.
Usually about 24-30 buns in an unopened bag fresh from the bakery.
They throw out at least 1.5 bags of these buns every day of the week.
Use them for when we have burgers and also use them to make at work lunches with them for me and my kids.
Figure it saves at least $350 a year vs cost of these from a grocery store or bakery
Weekly I pick up one day old Kaiser buns from a sandwich shop near my house.
Usually about 24-30 buns in an unopened bag fresh from the bakery.
They throw out at least 1.5 bags of these buns every day of the week.
Use them for when we have burgers and also use them to make at work lunches with them for me and my kids.
Figure it saves at least $350 a year vs cost of these from a grocery store or bakery
Junkies steal from Walmart, dollar store, grocery store, shoe stores, then go sell it to get their fix.
James T, maybe you should have used the OP hot tub story to make your point. The OP wants to raise $10 g's by the end of the year (that is a 50% discount on regular price). If that happens, after expenses at a 3% net profit, she would have $300.00 towards the hot tub. To make things understandable for the OP, it must be about her and involve her.
Or maybe she thinks if someone buys something for $2.00 and then sells it for $1.00 they will make a pile of money based on the volume.
You just proved my point.
You don't get it.
A 3 percent profit margin is FUCK ALL.
Jesus Christ.
Apple has a profit margin of 30 percent. Good for them. But kind of puts it in perspective.
Weston and his family, with an estimated net worth of US$8.7 billion, are listed as the third wealthiest in Canada and 178th in the world by Forbes magazine (June 2019) I proved there rich as fuck whether you try and make them look poor and struggling you should be there attorney lol
I bought ten of Uncle Ben's rice (the ones that heat up in the microwave) that was on clearance for 94 cents each and donated to the food bank.
If "Loblaws" was a single person making that much in income, sure that'd be a lot. But Loblaws is an entire network of 2400+ stores. Divide that net income by 2400 stores and you have a profit of $166,667 per store. For the entire store. Hell, many singular escorts make more profit than that even after their expenses!
You think many escorts after accounting for ALL overhead (mine is usually around 25-35% over the years) profit MORE than 166,667. Client math is always amusing.
Anyway, $166,667 profit after every last cent of overhead is paid (including outlandish corporate salaries and bonuses) is actually pretty good. Imagine thinking people would continue investing in a company if they didn't think their ROI was decent lol
