Mercury Marine layoffs
- Thread starter Frank Green
- Start date
I get that, but why is one Mercury 300HP outboard $28,000, and another is $116,000? How is there damn near 100k of difference in them?
It's only worth what a buyer is willing to pay.
Currently we have a US Government spending billion's of USD's to keep the economy afloat.
How many of those $116,000 outboards were bought by the US Government ?
Have you paid attention to the rigs the military, Homeland Security, local law enforcement, harbor security, etc are operating ?
A factory could stay busy just manufacturing outboards for the Government's of the world.
100%! Plan on being completely debit free by the end of the year. Not sure which will be cooler... "I have a boat!" or "I have no debit" but I like the sound of the second one!
Very good point. A buddy that served, referred to the gubment and the military as a self-licking ice cream cone.
I admire a man who told me he sold his boat and spent the money on a garden tractor and prep work so he could grow enough food for his family to get by.
As an active "job seeker" of the past year, I can tell you that the job market isn't what it appears/how its often portrayed by media.
A lot of companies aren't hiring, and many are laying off people. In this race of showing perpetual profits and non-stop growth to shareholders, companies are "doing more with less". One way to increase your profit margins (and make your shareholders happy), is to decrease your expenditures: cheaper product materials and designs, and less employees. Wages are fairly stagnant for the average worker, while wealth is being consolidated to the very top echelon of Americans.
And who needs to employ an expensive American and pay them a living wage and provide benefits, when you can offshore your resources? The huge flood of illegal immigrants is also causing wage suppression, to the glee of corporations (and probably by design):
The only two growing major industries right now are government and healthcare. Besides finding ways to boost profit margins as mentioned above, I think many companies are also pretty timid about what the economy is going to do in the short term. There seems to be a lot of uncertainty.
Take it from someone who's very experienced and educated, and has applied to ~700 jobs in the past year. The job market is absolutely brutal.
A lot of companies aren't hiring, and many are laying off people. In this race of showing perpetual profits and non-stop growth to shareholders, companies are "doing more with less". One way to increase your profit margins (and make your shareholders happy), is to decrease your expenditures: cheaper product materials and designs, and less employees. Wages are fairly stagnant for the average worker, while wealth is being consolidated to the very top echelon of Americans.
And who needs to employ an expensive American and pay them a living wage and provide benefits, when you can offshore your resources? The huge flood of illegal immigrants is also causing wage suppression, to the glee of corporations (and probably by design):
The only two growing major industries right now are government and healthcare. Besides finding ways to boost profit margins as mentioned above, I think many companies are also pretty timid about what the economy is going to do in the short term. There seems to be a lot of uncertainty.
Take it from someone who's very experienced and educated, and has applied to ~700 jobs in the past year. The job market is absolutely brutal.
For the last ten years we have been at a top of a low rate credit cycle which allowed people to buy all kinds of stuff without any real discipline from themselves or the lending institutions. That has stopped. Now come the follow-on effects. If anyone has loans on toys they couldn't afford and now really can't, that is on them and the financiers.
We have two paths going forward:
1. Deflation. Loss of jobs will be front and center. Defaults will be the order of the day.
2. Much more inflation due to money printing to cover the debt and ongoing .gov activities. This will also curb demand for non-necessities in order to pay for the necessities.
Both will probably come around in different sectors of the economy, and have actually already started showing up. Either way, more bankruptcies and more unemployment and higher taxes are coming. This doesn't even account for any international trade or economic issues. This is just the domestic environment we have put ourselves in.
Not Grady White, they are exclusive Yamaha.
Boston Whaler is owned by Brunswick, which also owns Mercury Marine.
People use credit cards for everything these days. Cannot remember the last time I saw somebody paying for groceries or gas with cash. And you know most of those people aren't paying off the entire balance every month.
I applied for a few local jobs recently out of boredom and it scared the hell out of me. Most job postings are either scams or bait and switch. Lots of fake postings by recruiters trying to build a contact list.
Yup, lots of "ghost jobs" out there. Some estimates put ghost jobs as 50% of the current job postings.
Many recruiters want to either give the illusion the company is growing, to pretend they are getting help for current overworked employees, or just creating a pool of potential employees for the future.
It's nuts.
I pay for everything exclusively on credit as long as it's possible, and doesn't incur extra charges or fees (and there's no cash discount). And why not? I buy now, pay it off 30 days later with 0% interest and in those 30 days, accrue 5% interest on my cash holdings, plus get 1% cash back on my purchases. I had to go to an ATM the other week to get cash to park at my niece's soccer game ($15!! WTF!) and was mildly annoyed.
But, I also pay off my balance every month and never carry revolving balances, which, like you say, is probably relatively rare. Sometimes I really wonder how much money people actually have, vs how much the bank has. One of my neighbors has a Jaguar F-Pace SUV, a Porsche 911 Turbo, and something else. I live kinda close to some lakes so all the time see guys with newer trucks, newer boats, lots of nice toys.
Sometimes I wish I could be a bit more reckless and just buy a boat or a sports car...but...what-if.
The Chinese and Russians got away from the petrodollar long ago.
Fact check is going to give you a politically spun reply.... election year.
The only one's that know for sure are those in the oil trading arena. It does not mean anything to the DoorDash / Streaming Video people.
Kind of like what does a "Strong Dollar" mean when going to the grocery store.
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Saudi Arabia ends petrodollar agreement: What it means for the USD, Bitcoin, and gold
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I use my credit card everywhere that doesn't charge a fee as well. I get a flat 2% back as well as some additional buyers protection. Why not? I also never carry a balance on it. I also always carried a $100 bill stuffed in my wallet to cover a o'shit. $100 doesn't go very far any more. Use to be a tank of gas and a meal to get home if anything happened. Now I average $130'ish for a tank of gas.
From the fishing side of business where I work, I can tell you all that the people that decided to get into fishing and the outdoors during Covid did not stick with it. License sales returned to pre Covid levels. Tackle sales are still slightly up oddly, but the boom of all the people that decided to get into the fishing or outdoors market dropped off. The economy being shit doesn't help either. I just feel it's part of the slump because demand spiked, then dropped and fell hard with the economy kicking it on the way down.
Boat sales were shit in the 2008-2015 time frame as well. Gas is up, inflation boosting the cost of everything and people going back to their "normal" lives all contributed. If they didn't see it coming then they were fools. I feel bad for the workers because I doubt the executives did anything to control the slowing sales or making adjustments to anticipate it coming.
Boat sales were shit in the 2008-2015 time frame as well. Gas is up, inflation boosting the cost of everything and people going back to their "normal" lives all contributed. If they didn't see it coming then they were fools. I feel bad for the workers because I doubt the executives did anything to control the slowing sales or making adjustments to anticipate it coming.
We have a rule that on a road trip, always have enough cash on hand to purchase the fuel necessary to get home. Hide it within' the car, and it's to get you home if your wallet gets stolen, cards get shut off, any number of emergencies that would be far easier to handle from the home base. When I went to Alaska, I had $3K in cash hidden in the camper (behind an access panel) just in case we were all the way to Alaska, and the card was turned off.
Branden
Statistically the executive pay is at an all time high, they are making out like bandits. Workers are of course getting the big screw.
I see a lot of it where I live in Arizona. The locals are broke compared to the people who come from Los Angeles or the recent retirees. It reminds me of going to foreign countries where the expats are living high.
Same here. Had a card get hacked before on a trip and it was a PITA, but had enough cash on hand to continue.
If everyone used a credit card like you do they wouldn't stay in business, average monthly balance for people in their 40s/50s is about 10k bucks.
Well ya see, it's like this....!
Very good post. I have to give credit where credit is due. (pun intended)
Over 20 years ago, I learned this lesson the hard way. The VERY hard way. This is when the "Softwood Lumber Agreement" went for a shit, and a particular U.S. company shut down the Softwood Lumber Business here in Canada.
Yeah yea, I'm sure there's some of you saying "right on,,,, do it again!!!!"
It was after trying to stay afloat through 2 years of shit, that I looked for a job anywhere in North America and Europe too... for a job in Food or Pharmaceuticals. You wanna know why? No matter how broke people are, (if they have ANY integrity whatsoever)... they still have to feed their families and they still have to keep them well. There will always be jobs in the food and pharmaceutical industry.
I took a job in the food industry. Specifically, processing 10,000 hogs a day, 5 days a week, whilst killing 12,000 hogs a day. 2,000 of those were processed at a different location.
These numbers seem insane to you, right? Steady income, I can tell you that. Not much overtime. 1,800 employees on site. Maybe someone will do the math, run some numbers.
I learned long ago, that things crash. (again, pun intended. A few of you here will know what I'm talking about) "Easy Street" ain't guaranteed. What will YOU do for you,,,,, and what will YOU do for your FAMILY?
What will YOU do for your responsibilities?
Ask yourselves that.
As to the Mercury Marine situation, this happened tonight in our area of operations. It is things like this, paid-for by your local "municipal taxes" that are going to get things through, for a little while. Oh, and it is through "municipal taxes" that creates windows such as the difference between a 20,000.00 and a 100,000.00 motor.
Among other things.
Note-to-self,,,, and your local River Patrol..... don't hit dead-heads/submerged trees/power poles.... they'll change your career.
I don't wish this on anyone,,,, but at the same time, accidents DO happen. And it can happen to ANYONE, even those who're out there to "make the waterways safer".
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I would argue that them going out of business would not be a bad thing. Credit cards are a huge avenue to insolvency for many that don’t have discipline. The country and quite a big percentage of people would be better off if everyone lived within their means. While they real problem is the holder of the card, the cards are a conduit to the successful implementation of poor decisions for many. If people cannot manage their finances is good times the bad times are guaranteed to be crippling, especially when the banks come calling.
Reading the responses I see deer in headlights. And it’s understandable given the economy is driven by oil and the sale or maintenance of personal vehicles.
There is no intention that there be oil for the masses or POVs within 6 years or less. Seems impossible sure. But that impossibility should clue us in to how radical the plans and subversion are to get the world to agenda 2030.
There is no intention that there be oil for the masses or POVs within 6 years or less. Seems impossible sure. But that impossibility should clue us in to how radical the plans and subversion are to get the world to agenda 2030.
So raising the interest rate was intended to slow down the economy so that people would stop having such a hot job market…So on top of inflation which we all know is real but you have sleepy Joe saying it isn't so and jobs being created and people are making more money etc...
Then why is Mercury Marine laying off nearly 400 people from the first go around in April to another almost 300 thru this July?
Costs on everything are up and not everyone is running out buying boats and boat motors right now.
I just see more of this coming down the road in other areas of manufacturing. Not just boats.
Former Mercury Marine employees describe anxiety, confusion after hundreds of layoffs
Former employees at Mercury Marine describe anxiety, confusion after hundreds of layoffs at the company's Fond du Lac headquarters.www.nbc26.com
This is exactly the intended consequence of raising interest interest rates.
Other words, it’s exactly what the government intended.
The issue is it has taken 3 long and painful (financially) years to even start to see a bit of a slow down. The citizens used up their financial cushion, their resources and their time during the past few years. The slow down could have been accomplished in one year and it would now be in our rear view mirror... The pain continues for the middle class.
The fed clearly stated that they need more unemployment to curb inflation. One of their main goals was to cause more unemployment.
Not a consequence, but a desired objective/outcome from their policies.
You could also make an argument that lowering wages is another tool to curb inflation.
And guess what mass-immigration accomplishes?
And guess what mass-immigration accomplishes?
They're not bad if you have the tools and skills to do stuff yourself.
My Dad has a 17' with a 50hp Yamaha, and a 21' with 150 and 15hp Mercs.
Both of them I spent a day outfitting electronics. Now we both understand the system and can troubleshoot on the water if need be. And it saved him about $4k over the dealer prices (hummingbird and minnkota running on a network).
This was on each boat.
Local dealer wanted $900 for the 3 year service on the Yamaha. I bought a 3 year kit online for $200 (half his price) and installed the new water pump, t-stat, fuel filter, spark plugs, and changed engine and lower unit oils.
Took me about 4 hours yesterday to save $700 in labor costs. Think it took 3 sockets and a wrench for tools. Got the kids out there helping and learning also
A large portion of money spent on boats is paying the boat mechanic.
Yes, the Fed plainly stated that this was part of the goal. This absolutely should have been everyone’s warning to get their house in order. They have made no secret about that. But people decided to whistle past the graveyard on this issue. Most will continue to do so and act in a reactionary manner.
You either cause inflation to decrease through increased supply or decreased demand. The Fed cannot control supply, but they can increase rates to decrease demand through rates. This is what they are doing. We were at almost zero rates and it should have been a clue that they would be going up. When combined with the low savings rates it was plain that this would end the way it is going. They knew this. The problem is that since they are backward looking it will go past where they should stop. 2025 is going to be really trying with respect to the economy since there is a 12-18 month lag from when the fed moves and it’s effects are realized.
The normalcy bias that most have is what will put them into insolvency. We have to look forward. @Inifinty is giving a clue of what’s coming if things don’t turn around and it makes all of these high car prices and loans look even more stupid.
You either cause inflation to decrease through increased supply or decreased demand. The Fed cannot control supply, but they can increase rates to decrease demand through rates. This is what they are doing. We were at almost zero rates and it should have been a clue that they would be going up. When combined with the low savings rates it was plain that this would end the way it is going. They knew this. The problem is that since they are backward looking it will go past where they should stop. 2025 is going to be really trying with respect to the economy since there is a 12-18 month lag from when the fed moves and it’s effects are realized.
The normalcy bias that most have is what will put them into insolvency. We have to look forward. @Inifinty is giving a clue of what’s coming if things don’t turn around and it makes all of these high car prices and loans look even more stupid.
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Our government uses immigration as a cheat code the same way they print money to cover deficit spending. If it wasn't for mass immigration and money printing our wages would be much higher, inflation lower, and crime rate lower too.
Let me see if this sounds correct.
The US government gives $10B to illegal immigrants in free health care, free food, free housing.. but it didn't actually have the money, so they first borrowed it from the FED and/or sold US treasuries.
Few years go by... And it has to pay back those loans and pay back the Treasuries bought with interest... But this time, they taxed the fuck out of you that year because of Bidenomics is great and it uses those taxes to pay off it's own created debt.
In the end it was taxpayer money that created a party time for the illegals, the spending just proceeded the income. You know, like your credit card. Get shit now, pay for it later.
No. The government doesn’t really generate revenue- that’s your job. The national debt is owed to the holders of the notes that the USG has sold to them. Your taxes help pay the interest and principal that those debt holders are owed.
Your wages are garnished to pay the interest and other things. It is important to understand that the private sector employee and entrepreneur is the one in the hook for the debt their representatives incur. You may not have wanted it, but your wages are in the hook for it. In a very real sense you work for the government. So if you think about it, if you have debt how much of your money goes to pay loans in the aggregate when your loans and what the government takes out is combined? It can be a huge amount.
The only debt the government owes a citizen is if they are holders of US notes, bonds, or have overpaid their taxes. The debt of the govt is a literal promise to use you and your childrens future labors to pay off what they have borrowed. So you and your family will work for generations to pay off the Ukraine conflict, DEI, and everything else that crosses their mind. A growing percentage of your life’s efforts has been and will continue to be committed by the government to pay for the national debt.
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John Deere, moving jobs to Mexico:
‘Greed’: John Deere rolls out hundreds of US layoffs and sends work to Mexico
Agricultural equipment company plans to move production out of the country in move workers condemn as ‘greed’
www.theguardian.com
How about never pay for it, just keep printing and loaning it to yourself lol.
And they cannot raise taxes on the wealthy because the wealthy own the government, can't raise them on the poor and working class because they don't make enough money and they can't stop spending because our government runs on spending sprees.
So print print print inflation to the moon.
The only solution is for the government to spend less, but we all know that is not going to happen...
So many others keep trying to "put these numbers into context". How about this:
If the government were to stop spending by 50%, flat-out, right now.... how many decades (or centuries) would it take to break even? (pay OFF debt and not run a deficit?)
Can those numbers yet exist, or are we back to talking "light-years" again?
So on top of inflation which we all know is real but you have sleepy Joe saying it isn't so and jobs being created and people are making more money etc...
Then why is Mercury Marine laying off nearly 400 people from the first go around in April to another almost 300 thru this July?
Costs on everything are up and not everyone is running out buying boats and boat motors right now.
I just see more of this coming down the road in other areas of manufacturing. Not just boats.
Former Mercury Marine employees describe anxiety, confusion after hundreds of layoffs
Former employees at Mercury Marine describe anxiety, confusion after hundreds of layoffs at the company's Fond du Lac headquarters.
I did my part & contributed to Yamaha a few days ago.
Keith
Properly managed and without Congressional meddling, it could be done in about 50 years. The first thing that would have to be done would have a balanced budget for the first year. There would have to be a lot of belt tightening, across the board for every American.
The government would have to give up their "forever wars" hobby horse too. Our current neoliberal/neocon foreign policy is highly destructive.
It's also what's leading to countries abandoning the US dollar as the world currency, which would make our debt much more burdensome.
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