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Old 01-20-2018, 02:08 PM
 
24,738 posts, read 26,810,935 times
Reputation: 22723

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Quote:
Originally Posted by Nov3 View Post
ReTail/convenience stores make a killing on products. they rise to the occasion on paying staff poorly. .
By and large, this statement is simply false. Retail is typically the lowest profit margin industry. That's precisely why retail wages are low.

https://www.investopedia.com/ask/ans...ail-sector.asp

Walmart (WMT) is the world's largest retailer by far, but it generally only experiences a three percent net profit margin each year. To put this in perspective, it takes Walmart 30 days in a 31-day month to pay off its cost of merchandise, labor, taxes and other operating costs.

...one of the major reasons retail margins are so relatively low is most retail spending is purely discretionary. Consumers can afford to be frugal and picky when it comes to discretionary items. This means there is a relatively high price elasticity of demand for retail goods, which makes it difficult to raise prices.
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Old 01-20-2018, 02:15 PM
 
24,738 posts, read 26,810,935 times
Reputation: 22723
Quote:
Originally Posted by hitpausebutton2 View Post
Just wait they will jack up all the prices to offset any savings that you do make. The bottomless pit workers as they are called will suffer the most again.
Correct.

Quote:
Originally Posted by hitpausebutton2 View Post
Its the top heavy business owners who are hoarding and being greedy.
I think that's overly simplistic. Perhaps true at large retail businesses. Not true for smaller businesses. I bet you've never tried to operate a small store or restaurant. I see restaurants go out of business all the time. There's a reason for that--it's a lot of work and easy to lose money.
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Old 01-20-2018, 02:15 PM
 
Location: The Triad (NC)
26,871 posts, read 57,924,091 times
Reputation: 29301
Quote:
Originally Posted by rruff View Post
The devaluation of labor is a given. We aren't going to stop that, and we wouldn't want to.
I disagree entirely with this ostrich in the sand view.
You couldn't be more wrong and on all three points you make.
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Old 01-20-2018, 02:35 PM
 
Location: Ruidoso, NM
5,170 posts, read 4,735,913 times
Reputation: 4206
Quote:
Originally Posted by MrRational View Post
I disagree entirely with this ostrich in the sand view.
You couldn't be more wrong and on all three points you make.
It isn't ostrich in the sand at all, it's reality!

How do you propose we prop up the value of labor without putting the brakes on productivity? Wouldn't you rather get paid for living and do whatever you like with your free time?
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Old 01-20-2018, 04:10 PM
 
572 posts, read 449,687 times
Reputation: 890
I have noticed fast food has gotten more expensive. Some places are replacing the cashiers with a machine where you order your own stuff. I figured this would happen.
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Old 01-20-2018, 08:39 PM
 
Location: Paranoid State
12,685 posts, read 9,443,087 times
Reputation: 14945
Quote:
Originally Posted by jrkliny View Post
The wait staff and retail clerks are free to take their skills elsewhere and get better paying jobs and jobs with career potential.
Wait staff at high end restaurants in Las Vegas clear north of $150K/year.
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Old 01-20-2018, 08:52 PM
 
Location: Paranoid State
12,685 posts, read 9,443,087 times
Reputation: 14945
Quote:
Originally Posted by rruff View Post
The "useful idiots" are the ones who are easily swayed by propaganda and side with the oligarchs.
Where would I find one of these oligarchs you speak of? In Barnes & Noble in a book about oligarchs, unicorns and other mythical creatures?
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Old 01-21-2018, 06:25 AM
 
Location: The Triad (NC)
26,871 posts, read 57,924,091 times
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Quote:
Originally Posted by SportyandMisty View Post
Where would I find one of these oligarchs you speak of?
The Oligarchs are less an issue than those 'useful idiots'.
You might prefer thinking of them as the deplorables
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Old 01-21-2018, 06:36 AM
 
Location: Boston
5,097 posts, read 1,460,242 times
Reputation: 3735
Raising the MW will be a tremendous boon for seniors who want to supplement their pensions and SS. Young unskilled workers will be out of luck.
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Old 01-21-2018, 07:41 AM
 
5,601 posts, read 4,211,347 times
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Quote:
Originally Posted by skeddy View Post
Raising the MW will be a tremendous boon for seniors who want to supplement their pensions and SS. Young unskilled workers will be out of luck.

I fail to see the logic. A higher MW would benefit anyone who has a low paid job, regardless of their age. If you are thinking of Walmart greeters, perhaps you should visit a Walmart and observe. There might be a few old people working as greeters but there will be many more people working as clerks and stocking shelves and moving merchandise.


Many of us seniors are retired. We are not working. We are more likely to be using the services of low paid workers. That could include housekeeping, senior care workers, and aides.
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