We would never have guessed but transnational financier and stock holding company Blackrock is the major shareholder of Woolworths, followed by, wait for it Vanguard, followed in third place by Norway’s Norges Bank then Australian Foundation Investment Company.
Woolworths and its woke board, backed by this financial oligarchy made a big mistake by refusing to stock Australia Day goods for sale on January 26.
This woke, predatory merchant has suffered for this transgression underestimating Australian consumers who have deserted its shops in droves.
Woolworths shares have crashed 4.47% – that’s around $2 billion wiped off the value of their holding.
Woolworths are responsible almost single-handedly for wiping out Australia’s favourite corner stores.
Not so long ago there were corner store, family-run fruiterers, butchers, newsagents, grocery shops, cafes, novelty shops, toy stores, florists, hamburger joints and milkbars supporting neighbourhoods in cities and regional areas employing kids after hours and on weekends selling nutritional foods.
Run out of milk? Send the kids on their bikes to fetch a bottle from the corner store. Nowdays your kids probably wouldn’t make it to the shop for fear of being mugged and robbed of their pocket money and their bikes by you know who.
Cairns News has been told by former small business owners that Woolworths actually hire staff to visit any family owned, competing businesses in shopping centres to record their commodity prices then set Woolies’ prices below the smaller competitor, often at a loss, and keep it there until the small business loses its customers.
This process could take a year or more but eventually the predatory multinational wins out and the small business closes down. This is Woolworth’s code of practice throughout the world which is why no Australian should shop there. Then there are the farmers who supply Woolies with produce direct from their farms. These are often larger family farms dotted throughout the states who have contracts with the retailer. For example mango growers send fruit to Woolies and receive around 30 to 50 cents per prime piece of fruit.
The fruit is then retailed anywhere between $2.50 and $5 each. Potatoes fare the same when farmers get anywhere between $400 to $800 a tonne, or 40 to 80 cents a kilo before freight.
This week Woolies at Atherton, one of the larger potato growing areas in Queensland is selling brushed spuds for .86 cents each. Boycott these predators.