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Woolworths, Coles sued by ACCC for ‘misleading’ price drop claims (www.smh.com.au)
submitted 1 month ago by zero_gravitas@aussie.zone to c/australia@aussie.zone
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“We also allege that in many cases both Woolworths and Coles had already planned to later place the products on a “prices dropped” or “down down” promotion before the price spike, and implemented the temporary price spike for the purpose of establishing a higher “was” price.

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[-] Zagorath@aussie.zone 3 points 1 month ago

I get the joke, but actually...yes. A co-op doesn't mean the people actually doing the work don't get paid. It actually doesn't even mean not-for-profit, just that the people profiting aren't shareholders, but people who actually have a direct stake in the business. That can be a customer-owned co-op, supplier-owned, worker-owned, or some combination of those. Those groups would be the ones making any profit, in a for-profit co-op. And in a not-for-profit worker- or supplier-owned co-op, the workers (including the CEO) and suppliers still get paid—they're just able to be paid more while selling goods for the same price, or paid the same while achieving a lower price, than a non-co-op business would.

this post was submitted on 23 Sep 2024
84 points (100.0% liked)

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