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And yet they rake in hundreds of billions of dollars in profits, cost tax payers billions in government subsidies, and yet they can't pay more to their workers.
Just one quarter of McDonald's profits could pay for every government subsidy handed out to every fast food worker. The amount of money that these companies make is absurd compared to the amount that's paid to their workers.
I sincerely doubt they will increase their prices much if at all. What do you think will hurt them more? Increasing wages or increasing prices and taking away the whole selling point of the business? Cheap food + convenience is their profit.
The CEO is not paying the employees. The franchisee is. The franchise owner is typically not swimming in a pool of disposable cash.
does anyone think mcdonalds the corporation will just eat this money?
Will the shareholders accept less returns on their investment???
By raising the min wage, people, your not socking it to the evil rich..THEY will not lose one red cent...this cost will be passed on to other employees (by having to work harder, less hours) and the customers...mcdonalds will simply cut costs to eat this...and were talking about a fast food corp that already has questionable product and low quality...
They are going to raise prices, NOT only will they NOT increase quality they will probably cut more corners, and they will have a smaller work force
again...please tell me how this added cost will be eaten by the corporation and the shareholders???
"If labor costs are 30 percent of the total costs at fast food chains (the rest goes for the food, rent, utilities, and other costs), the pay hike to $15 an hour would mean raising costs by roughly 7.5 percent. This increase in costs would likely be met in part by some reduction in profits, which are currently at record highs, and presumably some cut in the pay of the CEOs and other top executives."
Another study with slightly different results:
"Aaronson and French show that a 10 percent hike in the minimum wage increased restaurant prices on the whole by 0.7 percent, and prices at limited service establishments by 1.6 percent. This result, in combination with other information about the restaurant industry, can be used within a formal model of the labor market to infer the impact of a minimum wage increase on employment."
The CEO is not paying the employees. The franchisee is. The franchise owner is typically not swimming in a pool of disposable cash.
The company is still the one profiting the majority. They are merely hiding behind their franchises to avoid paying out more. Same thing happens whenever these companies get sued -- they point the finger at the franchise and go "not my problem!".
Exactly. Targets FIRED CEO got a $61,000,000 severance package when he was let go, but we are supposed to believe these companies are too poor to pay a living wage.
What do you guys get when you do such a poor job they fire you??
I agree a $61,000,000 severance package for being fired is quite ridiculous, but if you were to divide that amongst Target's 347,000 employees, each employee gets an extra $175. For at least 75% of low wage workers that I've ever known, an extra $175 is halfway towards an Xbox One or enough for a few cases of beer, nothing more.
I agree a $61,000,000 severance package for being fired is quite ridiculous, but if you were to divide that amongst Target's 347,000 employees, each employee gets an extra $175. For at least 75% of low wage workers that I've ever known, an extra $175 is halfway towards an Xbox One or enough for a few cases of beer, nothing more.
A whopping 8% of their 2013 earnings. An extra $175 per Target employee constitutes a 45% increase in wages, they'd be making a little over $11/hr and that's only IF they were full time.
The company is still the one profiting the majority. They are merely hiding behind their franchises to avoid paying out more. Same thing happens whenever these companies get sued -- they point the finger at the franchise and go "not my problem!".
Exactly! And if we wanted to, we could shame the franchisee for making a bad decision, you know...like we poor shame.. "well if you weren't so stupid you would have known that 'someone like you' could never afford that apartment, now the rent went up and you want us, the hardworking taxpayers, to give you our money so you can pay your rent. When I rent I always factor in future rent increases and include that in my decision making matrix cause I am brilliant and you are poor and so stupid that you don't even deserve the gum that is stuck to the sole of my shoe"
I agree a $61,000,000 severance package for being fired is quite ridiculous, but if you were to divide that amongst Target's 347,000 employees, each employee gets an extra $175. For at least 75% of low wage workers that I've ever known, an extra $175 is halfway towards an Xbox One or enough for a few cases of beer, nothing more.
But its still Something Right?
If my boss came to me and said, "hey starting tomorrow we are going to give you a extra 50 cents on you pay check just to say thank you"
even though it's much its still Thank You!
I agree a $61,000,000 severance package for being fired is quite ridiculous, but if you were to divide that amongst Target's 347,000 employees, each employee gets an extra $175. For at least 75% of low wage workers that I've ever known, an extra $175 is halfway towards an Xbox One or enough for a few cases of beer, nothing more.
And we all know that low wage earners with an extra $175 would run right out and squander it on an "Xbox or a few cases of beer"
And we all know that low wage earners with an extra $175 would run right out and squander it on an "Xbox or a few cases of beer"
Might be part of that stereotype. Low class workers who just spend money on alcohol and video games. Sure, they exist... but so do the others who go home wondering how they're going to budget their expenses and make the rent this month!
And we all know that low wage earners with an extra $175 would run right out and squander it on an "Xbox or a few cases of beer"
Quote:
Originally Posted by wolf39us
Might be part of that stereotype. Low class workers who just spend money on alcohol and video games. Sure, they exist... but so do the others who go home wondering how they're going to budget their expenses and make the rent this month!
Exactly my point, but as we have come to know, the poor are responsible for the behavior of every other poor person and they should be judged as a homogeneous group with a collective consciousness
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