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What Next | Daily News and Analysis

How Corporations Are Taking Advantage of Inflation

What Next | Daily News and Analysis

Slate Podcasts

News, News Commentary, Daily News

4.32.4K Ratings

🗓️ 17 May 2022

⏱️ 28 minutes

🧾️ Download transcript

Summary

Consumers are paying higher prices almost everywhere as inflation continues to rise. But corporate earnings calls have revealed that many companies are using inflation as a cover to jack up prices and increase profits — all on the backs of customers. Guest: Lindsay Owens, executive director of the Groundwork Collaborative.  If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get benefits like zero ads on any Slate podcast, bonus episodes of shows like Slow Burn and Dear Prudence—and you’ll be supporting the work we do here on What Next. Sign up now at slate.com/whatnextplus to help support our work. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

I think that the holidays feel like frozen noses. I love walking with the dog for long periods of time.

0:10.0

Hopefully it's snowing and you've got to wrap up warm. So I think a frozen nose is a sweaty armpit

0:15.0

because your wrapped up so warm but then you're climbing hamps and heath and you get to the top

0:20.0

and you're like, and then you can see the breath but then your nose is still freezing to touch.

0:25.0

Join in every sip with Red Carps now Back at Starbucks.

0:31.0

Hey everyone, just wanted to give a special welcome to all of our new listeners from over at Spotify.

0:37.0

Yeah, we see you guys. Welcome. And just make sure you go and click that follow button.

0:42.0

It'll make sure I am sitting in your feed day in, day out. You won't miss a thing.

0:48.0

Alright, on with a show.

0:51.0

For the last few months, Lindsey Owen and our colleagues at the Groundwork Collaborative Think Tank

0:59.0

have been listening in on these phone calls.

1:02.0

We combed through and listened in on hundreds of corporate earnings calls.

1:09.0

These are the quarterly phone calls that, you know, CEOs and CFOs have with their investors and shareholders

1:15.0

each quarter after they release their quarterly report.

1:18.0

It's like a corporate pep rally, right?

1:21.0

It can be a bit of a pep rally. Yeah, boosting up the investors trying to juice the share price a little bit.

1:30.0

Lindsey's been looking for answers about our weird economy at the moment.

1:34.0

Specifically, she's looking for the origin of the inflation that's dogging all of us at the grocery store, at the gas pump, just about everywhere.

1:43.0

Are these corporations feeling pressed right now? Like are they like, oh, this economy man, it's stretching us.

1:49.0

The main takeaway that we had from these earnings calls is these CEOs are saying that inflation has been very good for business.

1:59.0

I'd like to welcome everyone to the Coca-Cola companies first quarter earning the results conference call.

2:04.0

Today's call is being recorded.

...

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