3 ms·

It is such a shame when a once venerable company is taken over by MBA types who only focus on the next quarter. I have not checked, but I'm guessing they're cu

It is such a shame when a once venerable company is taken over by MBA types who only focus on the next quarter. I have not checked, but I'm guessing they're currently showing massive profits, probably doing stock buybacks, converting as much as they can into subscription services, and cutting R&D jobs as well as domestic manufacturing jobs? It's always the same story. In less than a decade they will be begging the taxpayers for a bailout when it all comes crashing down after the current management pulls the cord on their golden parachutes. The silver lining is that this opens the door for competitors. Is International Harvester still around?

ahartmetz 2y ago
Fendt, owned by Agco, is sharing the first place in quality and innovation for tractors. Agco is also an American company, but so far seems to be thinking and acting for the long term. May they not revert to the mean...
- kiba 2y ago
  What can we do to optimize businesses to consider the long term and actually serve their customers and other stakeholders, not just making stock price go up?
  - tstrimple 2y ago
    There is an economic model where workers own the means of production. But people tend to lose their minds about that.
    - lukan 2y ago
      No they don't. It is called a cooperative and is working today https://en.m.wikipedia.org/wiki/Cooperative https://en.m.wikipedia.org/wiki/Cooperative People loose their minds with the concept of forcefully transfering all companies to this model, controlled by one political party.
    - deleted 2y ago
      [deleted]
    - joemazerino 2y ago
      Rarely works out. There's a middle ground between socialist style co-ops and extreme capitalist greed. See: Costco
vlucas 2y ago
Literally a quote from the article: > The company recently trimmed its annual profit forecast for the second time and projected steeper declines in sales of large agricultural equipment.

ahartmetz 2y ago

Fendt, owned by Agco, is sharing the first place in quality and innovation for tractors. Agco is also an American company, but so far seems to be thinking and acting for the long term. May they not revert to the mean...

kiba 2y ago
What can we do to optimize businesses to consider the long term and actually serve their customers and other stakeholders, not just making stock price go up?
- tstrimple 2y ago
  There is an economic model where workers own the means of production. But people tend to lose their minds about that.
  - lukan 2y ago
    No they don't. It is called a cooperative and is working today https://en.m.wikipedia.org/wiki/Cooperative https://en.m.wikipedia.org/wiki/Cooperative People loose their minds with the concept of forcefully transfering all companies to this model, controlled by one political party.
  - deleted 2y ago
    [deleted]
  - joemazerino 2y ago
    Rarely works out. There's a middle ground between socialist style co-ops and extreme capitalist greed. See: Costco

vlucas 2y ago

Literally a quote from the article: > The company recently trimmed its annual profit forecast for the second time and projected steeper declines in sales of large agricultural equipment.