6 ms·

is £75m even really that much money anymore? Why sacrifice a historic site for some rocks in the ground worth only £75m???

fakedang 5y ago
Exactly my thoughts, but then again, commodity gatherers have to do everything and anything - including blowing up archeological sites - to make living money these days due to extremely low commodity prices. Not that I sympathize with those guys, but rather that I can smell the desperation on them.
- chefkoch 5y ago
  https://www.wsj.com/market-data/quotes/AU/XASX/RIO/financials/annual/income-statement https://www.wsj.com/market-data/quotes/AU/XASX/RIO/financial... it looks like they're just scraping by.
  - fakedang 5y ago
    They could have made way way more than that with the prices of 2010 though. Especially for a company of Rio Tinto's scale.
warent 5y ago
Sociopathy?
- praptak 5y ago
  Or capitalism. No test exists that tells one from the other.
  - gruez 5y ago
    I'm glad that non-capitalist entities (in other words, non-privately own means of production) do not engage in that sort of behavior. Oh wait: https://www.cnn.com/2021/07/03/americas/gulf-of-mexico-fire-intl/index.html https://www.cnn.com/2021/07/03/americas/gulf-of-mexico-fire-...
- guerrilla 5y ago
  No, this is not any paritcular individuals fault but the system itself since the incentives and legal system are set up this way. If one wasn't like a sociopath then they either wouldn't be hired or would be fired for not doing their job. Due to the environment that the company ooerates in (which we have created), this is exactly what it'd be predicted to do regardless of the individuals involved.
Gys 5y ago
Making your target, getting a bonus
whymauri 5y ago
My favorite part about bloodsucking corporations like this and Verizon/AT&T is that the actual stock value of these corporations has barely moved in the last two decades. I thought this kind of unfettered profiteering and capitalism would be good for long term value? All this suffering and destruction to meekly underperform the stock market. Why do these executives have jobs?
- greenshackle2 5y ago
  Ah, but the bloodsucking and profiteering is predictable, so it was already priced in. If they stopped and acted like responsible global citizens instead, now that would be a surprise, and their stock price would drop precipitously.
- totalZero 5y ago
  T and VZ pay substantial dividends.
- gruez 5y ago
  >My favorite part about bloodsucking corporations like this and Verizon/AT&T is that the actual stock value of these corporations has barely moved in the last two decades Maybe because they're paying out profits in dividends?
  - whymauri 5y ago
    I actually didn't know this. Does Rio Tinto also fall into this category of 'objectively terrible for the human race, but pays wonderful dividends to the stakeholders'?
    - totalZero 5y ago
      The point is that the stock value remains in the same place because they distribute part of their earnings to shareholders. On the day of a dividend, the stock gets discounted by the amount of the dividend. So if you pay out a large dividend and the share price is static over the long term, that’s actually quite good for investors. (In other words, your earlier comment about bloodsucking profiteers misses the mark a little bit.)
arthurcolle 5y ago
May I offer you an egg in this trying time?
- cko 5y ago
  Why are two different users quoting IASIF? Am I missing something?
goldenkey 5y ago
Can I offer you a nice egg in this trying time?
- dmos62 5y ago
  What egg?
  - cwkoss 5y ago
    It's a reference to Its Always Sunny in Philadelphia, which has become a meme about impotently trying to soften tragedy. https://knowyourmeme.com/memes/can-i-offer-you-a-nice-egg-in-this-trying-time https://knowyourmeme.com/memes/can-i-offer-you-a-nice-egg-in...
  - robocat 5y ago
    I Google and post a comment with the answer. I think you are wasting others time with a too simple question: https://www.google.com/search?q=offer+you+an+egg+in+this+trying+time https://www.google.com/search?q=offer+you+an+egg+in+this+try... I suggest you do the same for acronyms that you don’t know.
  - goldenkey 5y ago
    A beaver egg. https://churchofthought.org/blog/2020/06/25/busy-beaver-is-the-bios-of-our-universe/ https://churchofthought.org/blog/2020/06/25/busy-beaver-is-t...

fakedang 5y ago

Exactly my thoughts, but then again, commodity gatherers have to do everything and anything - including blowing up archeological sites - to make living money these days due to extremely low commodity prices. Not that I sympathize with those guys, but rather that I can smell the desperation on them.

chefkoch 5y ago
https://www.wsj.com/market-data/quotes/AU/XASX/RIO/financials/annual/income-statement https://www.wsj.com/market-data/quotes/AU/XASX/RIO/financial... it looks like they're just scraping by.
- fakedang 5y ago
  They could have made way way more than that with the prices of 2010 though. Especially for a company of Rio Tinto's scale.

warent 5y ago

Sociopathy?

praptak 5y ago
Or capitalism. No test exists that tells one from the other.
- gruez 5y ago
  I'm glad that non-capitalist entities (in other words, non-privately own means of production) do not engage in that sort of behavior. Oh wait: https://www.cnn.com/2021/07/03/americas/gulf-of-mexico-fire-intl/index.html https://www.cnn.com/2021/07/03/americas/gulf-of-mexico-fire-...
guerrilla 5y ago
No, this is not any paritcular individuals fault but the system itself since the incentives and legal system are set up this way. If one wasn't like a sociopath then they either wouldn't be hired or would be fired for not doing their job. Due to the environment that the company ooerates in (which we have created), this is exactly what it'd be predicted to do regardless of the individuals involved.

Gys 5y ago

Making your target, getting a bonus

whymauri 5y ago

My favorite part about bloodsucking corporations like this and Verizon/AT&T is that the actual stock value of these corporations has barely moved in the last two decades. I thought this kind of unfettered profiteering and capitalism would be good for long term value? All this suffering and destruction to meekly underperform the stock market. Why do these executives have jobs?

greenshackle2 5y ago
Ah, but the bloodsucking and profiteering is predictable, so it was already priced in. If they stopped and acted like responsible global citizens instead, now that would be a surprise, and their stock price would drop precipitously.
totalZero 5y ago
T and VZ pay substantial dividends.
gruez 5y ago
>My favorite part about bloodsucking corporations like this and Verizon/AT&T is that the actual stock value of these corporations has barely moved in the last two decades Maybe because they're paying out profits in dividends?
- whymauri 5y ago
  I actually didn't know this. Does Rio Tinto also fall into this category of 'objectively terrible for the human race, but pays wonderful dividends to the stakeholders'?
  - totalZero 5y ago
    The point is that the stock value remains in the same place because they distribute part of their earnings to shareholders. On the day of a dividend, the stock gets discounted by the amount of the dividend. So if you pay out a large dividend and the share price is static over the long term, that’s actually quite good for investors. (In other words, your earlier comment about bloodsucking profiteers misses the mark a little bit.)

arthurcolle 5y ago

May I offer you an egg in this trying time?

cko 5y ago
Why are two different users quoting IASIF? Am I missing something?

goldenkey 5y ago

Can I offer you a nice egg in this trying time?

dmos62 5y ago
What egg?
- cwkoss 5y ago
  It's a reference to Its Always Sunny in Philadelphia, which has become a meme about impotently trying to soften tragedy. https://knowyourmeme.com/memes/can-i-offer-you-a-nice-egg-in-this-trying-time https://knowyourmeme.com/memes/can-i-offer-you-a-nice-egg-in...
- robocat 5y ago
  I Google and post a comment with the answer. I think you are wasting others time with a too simple question: https://www.google.com/search?q=offer+you+an+egg+in+this+trying+time https://www.google.com/search?q=offer+you+an+egg+in+this+try... I suggest you do the same for acronyms that you don’t know.
- goldenkey 5y ago
  A beaver egg. https://churchofthought.org/blog/2020/06/25/busy-beaver-is-the-bios-of-our-universe/ https://churchofthought.org/blog/2020/06/25/busy-beaver-is-t...