John Deere Laying Off Hundreds in Midwest Amid Production Shift to Mexico
June 29th, 2024Via: Fox Business:
John Deere, the world’s largest seller of tractors and crop harvesters, has announced another wave of layoffs Friday, telling around 610 production staff at plants in Illinois and Iowa that they will be out of a job by the end of the summer, according to reports.
…
The company says it generated $10.166 billion in profits last year.
Can you blame them? 10 billion, I mean, it’s simply not…enough.
[Researching…] Blackrock, Vanguard, State St, JP Morgan & Morgan Stanley own 25%. Oh, and looky here…the biggest single shareholder is Bill Gates’ Cascade Investments at 11%.
Dennis, you inspired me:
Top-selling farm equipment in the US:
Case, New Holland, Caterpillar, Kubota, AGCO
Major stockholders:
Blackrock, Templeton, Vanguard, State Street, Gates.
Only Blackrock holds major shares in every one. Vanguard is in four of the five.
It could be that some of the other stockholding corps. could themselves be mostly owned by one or more of the above, effectively giving it a larger cumulative share.
It reminds me of the 1870’s-1890’s, the era of steel, oil, and railroad barons and the reason for US anti-trust laws, which no longer seem to be working.
@Snowman
Interesting. I think there’s a lot of cross-ownership in the Australian sharemarket too, same stockholders.
Anti-trust laws for the most part don’t really serve the empire’s interests.