Amazon value drops $53 billion following report that Trump is "obsessed" with the company

midian182

Posts: 5,850   +48
Staff member

It’s no secret that Donald Trump has little love for Jeff Bezos, but a report from Axios claims this animosity goes beyond mere dislike. The president is said to be “obsessed with Amazon,” who he believes has gotten unfair tax benefits and preferential treatment from the US Postal Service.

Trump has in the past been vocal about his disdain for Amazon, Bezos, and the Washington Post, which Bezos owns. He called the tech giant a “no-tax monopoly” last year, adding that it was doing great damage to other retailers. The president also said that the US Postal Service was undercharging Amazon, thereby making it “dumber and poorer.”

Trump has repeatedly attacked the Washington Post, too, calling it “Fake News Washington Post,” and a “tax shelter” for Amazon. He famously claimed that Bezos and his firms would “have such problems” if he won the US election.

Update (3/31): During the weekend Trump resumed his attacks on Amazon, saying the company is scamming the US Postal Service. However reports do not seem to support the President's statement. The Postal Regulatory Commission, which oversees the industry, indicates USPS actually benefits from serving Amazon's deliveries, making a profit on them, and that Amazon does not receive special treatment beyond paying a lower rate as other bulk customer would.

According to Axios, Trump wants to change Amazon’s tax treatment over fears that mom-and-pop retailers could be put out of business. One of Axios’ sources who has spoken to the president said: “He’s wondered aloud if there may be any way to go after Amazon with antitrust or competition law.”

Despite Trump’s dislike for the company already being public knowledge, Amazon’s shares fell 7 percent on the back of the report, wiping around $53 billion off its market cap. This comes at a time when tech stocks, especially Facebook’s, are in decline, which could have contributed to Amazon’s slump.

Although Facebook’s Cambridge Analytica scandal has made most of the headlines recently, and despite Mark Zuckerberg agreeing to testify before Congress, Axios says Trump isn’t interested in how the platform handles user data. He also believes the Russia story is a hoax.

Since the report was published, White House Press Secretary Sarah Huckabee Sanders has said the Trump administration isn’t considering any policy changes directed at Amazon. “The president has said many times before he’s always looking to create a level playing field for all businesses and this is no different and he’s going to always look at different ways, but there aren’t any specific policies on the table at this time,” Sanders added.

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Cycloid Torus

Posts: 4,649   +1,449
I suspect that the only real issue is that Bezos is 'too successful'. Amazon succeeds by being there and being good enough. I end up there when shopping because I have become frustrated with relatively poorer search capabilities and worse user interfaces elsewhere. That is not to say that Amazon is 'great' - it isn't. It is plagued by lousy sort capabilities after primary search (a/k/a secondary sort). I think this is the way Amazon wants it, as it limits choices to what Amazon puts on the first 'results screen'. I end up using Google search to shop at Amazon....

Another thing.... If the President has an issue for the USPS, he should take it up with the Board of Governors (appointed by the President).
 

Uncle Al

Posts: 7,200   +5,588
Conflicting news headlines yesterday on the major news services. Some say Trump is out to get 'em and others say he's not ..... we need a new app to tell us which is the fake news story!!!!
 

Prosercunus

Posts: 282   +124
I suspect that the only real issue is that Bezos is 'too successful'. Amazon succeeds by being there and being good enough. I end up there when shopping because I have become frustrated with relatively poorer search capabilities and worse user interfaces elsewhere. That is not to say that Amazon is 'great' - it isn't. It is plagued by lousy sort capabilities after primary search (a/k/a secondary sort). I think this is the way Amazon wants it, as it limits choices to what Amazon puts on the first 'results screen'. I end up using Google search to shop at Amazon....

Another thing.... If the President has an issue for the USPS, he should take it up with the Board of Governors (appointed by the President).
Essentially. When other websites fail in interface, payment options, stock, shipping options, etc a person becomes frustrated and says screw it and buys it on Amazon. Although lately now that the weather is starting to become more pleasant I have been price matching at local merchants if at all possible.
 
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MilwaukeeMike

Posts: 3,211   +1,455
Since we're on the topic of Amazon - let's do what we normally do which is ignore everything Trump said and have a meaningful conversation about it...

It's true Amazon is getting really really big. We have laws in the US against monopolies, but we've never had a company take over many different areas until Google and Amazon came along. Amazon right now is by far the biggest e-retailer, but they also have streaming video and web services. AWS (Amazon Web Services) is also huge. In the future they will probably be in the financial products and/or insurance markets.

I agree the Washington Post puts Trump bashing ahead of real reporting, but they're not unique in this. The bigger question though is what happens when Amazon starts to take over a very large part of our lives because they're so huge in so many different areas.

A few years from now we could be getting our insurance from Amazon, our news from Amazon, our groceries from Amazon, our housewares from Amazon, and our entertainment from Amazon. We'd go to work and our company would be hosting our web presence from Amazon. Is this OK?
 
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quadibloc

Posts: 178   +104
Since nearly all other businesses are required to use the USPS whenever possible, and can face penalties if they send things by FedEx or UPS that could have gone by USPS, I'm surprised that the Federal Government under any other President hasn't gone after Amazon long before this!
 

drjekelmrhyde

Posts: 354   +124
I suspect that the only real issue is that Bezos is 'too successful'. Amazon succeeds by being there and being good enough. I end up there when shopping because I have become frustrated with relatively poorer search capabilities and worse user interfaces elsewhere. That is not to say that Amazon is 'great' - it isn't. It is plagued by lousy sort capabilities after primary search (a/k/a secondary sort). I think this is the way Amazon wants it, as it limits choices to what Amazon puts on the first 'results screen'. I end up using Google search to shop at Amazon....

Another thing.... If the President has an issue for the USPS, he should take it up with the Board of Governors (appointed by the President).
Essentially. When other websites fail in interface, payment options, stock, shipping options, etc a person becomes frustrated and says screw it and buys it on Amazon. Although lately now that the weather is starting to become more pleasant I have been price matching at local merchants if at all possible.
I own a two flat and had to get a water heaters(55and 40 gallon models) for each floor in a year's time. First one I ordered from Menard's, it took two weeks to arrive. The second one(will come tomorrow) also took two weeks from Home Depot. If I just ordered the exact same models from Amazon, it would've taken less than 3 days.
 

Cycloid Torus

Posts: 4,649   +1,449
Since we're on the topic of Amazon - let's do what we normally do which is ignore everything Trump said and have a meaningful conversation about it...

It's true Amazon is getting really really big. We have laws in the US against monopolies, but we've never had a company take over many different areas until Google and Amazon came along. Amazon right now is by far the biggest e-retailer, but they also have streaming video and web services. AWS (Amazon Web Services) is also huge. In the future they will probably be in the financial products and/or insurance markets.

I agree the Washington Post puts Trump bashing ahead of real reporting, but they're not unique in this. The bigger question though is what happens when Amazon starts to take over a very large part of our lives because they're so huge in so many different areas.

A few years from now we could be getting our insurance from Amazon, our news from Amazon, our groceries from Amazon, our housewares from Amazon, and our entertainment from Amazon. We'd go to work and our company would be hosting our web presence from Amazon. Is this OK?
Makes me think I now know how so many foreign countries feel about the USA
 

Cycloid Torus

Posts: 4,649   +1,449
Trump is bad for everything. Except Russia. He's good for Russia.
Lets be glad he's good for something.

"Russia has expelled 60 US diplomats and closed the country's St Petersburg consulate in a tit-for-tat response to US action over a spy poisoning case in the UK." reminds me of two 11 year olds having a spat.
 

Evernessince

Posts: 5,172   +5,477
Since nearly all other businesses are required to use the USPS whenever possible, and can face penalties if they send things by FedEx or UPS that could have gone by USPS, I'm surprised that the Federal Government under any other President hasn't gone after Amazon long before this!
This is a false statement. There is no such law mandating which parcel carrier you use. You may have to send much of your mail by USPS but that is simply because they have no competitors and don't do so to make a profit.

I send over 3,000 parcels a year through FedEx, UPS, and USPS.

Please provide a link to the source where you got such information.
 

Cycloid Torus

Posts: 4,649   +1,449
This is a false statement. There is no such law mandating which parcel carrier you use. You may have to send much of your mail by USPS but that is simply because they have no competitors and don't do so to make a profit.

I send over 3,000 parcels a year through FedEx, UPS, and USPS.

Please provide a link to the source where you got such information.
Satire?
 
B

bas416

How can a person mentally disabled run a country? Oh wait, my country is being run by a corrupt disabled phycho too, who admires Trump and Putin!

Xxi. century is a pile of ... so far. And even worse 1060 ti is overpriced!
 

Duke9192

Posts: 29   +28
And suddenly the left is all in for big business and grossly wealthy ceo's. I can admit I don't know all the reasoning behind either side of the fence on this one, but I do know the mail lady delivered an Amazon package to me on a Sunday once. I asked her if they normally deliver on Sunday because this was my first time receiving, and she said just for Amazon. I can read president trumps comments and keep my mental wall down enough to see his point on it, and I can see the other side as well. People need to just stop with the hate, especially the media. It's so horrible to watch/read now. People have their views and opinions and news media will not change them, yet they continue to flame and bash members of their opposing political party non stop. They do however provoke an argument, and I guess that's good for clicks.
 

Dimitrios

Posts: 657   +470
And suddenly the left is all in for big business and grossly wealthy ceo's. I can admit I don't know all the reasoning behind either side of the fence on this one, but I do know the mail lady delivered an Amazon package to me on a Sunday once. I asked her if they normally deliver on Sunday because this was my first time receiving, and she said just for Amazon. I can read president trumps comments and keep my mental wall down enough to see his point on it, and I can see the other side as well. People need to just stop with the hate, especially the media. It's so horrible to watch/read now. People have their views and opinions and news media will not change them, yet they continue to flame and bash members of their opposing political party non stop. They do however provoke an argument, and I guess that's good for clicks.
Very well said! I never seen so much hate and energy against Trump. I have done a bet with a friend and every day since Trump was in office there is ALWAYS an article about Trump on yahoo's website be it TRUE or FAKE. Last month was a full month of them claiming, " How America will lose a war with China." Then there was one about, " Trump wants war." Some of the writers were called out by US and Chinese soldiers claiming the inaccuracy's of weapons and locations used in the article. Weapons spelt wrong to made up weapons!
 

Cycloid Torus

Posts: 4,649   +1,449
Very well said! I never seen so much hate and energy against Trump. I have done a bet with a friend and every day since Trump was in office there is ALWAYS an article about Trump on yahoo's website be it TRUE or FAKE. Last month was a full month of them claiming, " How America will lose a war with China." Then there was one about, " Trump wants war." Some of the writers were called out by US and Chinese soldiers claiming the inaccuracy's of weapons and locations used in the article. Weapons spelt wrong to made up weapons!
Yahoo for news??? Umm, do you know what a 'yahoo' is? https://en.wikipedia.org/wiki/Yahoo_(Gulliver's_Travels)
 

Kashim

Posts: 160   +148
President Spanky aka Orange Julius is jealous of anyone whom he perceives to be more successful than himself.
 

hood6558

Posts: 353   +110
"The president also said that the US Postal Service was undercharging Amazon"
Last year I received a large package from Amazon on Sunday afternoon - Delivered by a US Postal Service Jeep! So I guess Amazon is paying off the postal service to do something I have never seen them do before - Sunday mail delivery. Sounds like a conspiracy...
 

captaincranky

Posts: 16,065   +4,867
...[ ]....I agree the Washington Post puts Trump bashing ahead of real reporting, but they're not unique in this. The bigger question though is what happens when Amazon starts to take over a very large part of our lives because they're so huge in so many different areas....[ ]....
I would argue with their "Alexa" sh!t, they already have. :eek::D


"Alexa, stop that damned cackling and spend my paycheck for me"......
 
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jobeard

Posts: 13,894   +1,763
Since nearly all other businesses are required to use the USPS whenever possible, and can face penalties if they send things by FedEx or UPS that could have gone by USPS, I'm surprised that the Federal Government under any other President hasn't gone after Amazon long before this!
Cite an authoritative source to justify this assumption P L E A S E.
FedEx & UPS are package services and first class letters belong with the USPS - - so what - - that does not imply that USPS must get all packages too.