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As someone that will go to work in the morning and set prices for a major corporation, yeah...you just nailed it.
I mean dear god, there is a blankin' formula that incorporates expenses, capital usage, TAXES etc. I just get tired of how stupid most people are sometimes. Honestly, it wouldn't annoy me so much except with regards to topics like this where people with absolutely NO CLUE weigh in like they just slept at a holiday inn express when they don't have even basic math, statistical, analytical or finance knowledge.
It ALL gets passed along to the consumer unless you have some sort of inefficient market situation like a monopoly.
When I see an artist, a landscaper, a plumber, a OBGYN, an arborist, a cellist etc. I respect that they know WTF they are doing in their expertise. However, with regards to topics like statistics, finance and economics, we have hordes of politically motivated imbeciles that have zero clue yet make strong grossly uninformed statements. A bunch of egotistical morons packed full of hubris.
Thats kind of what I said in another thread about McDonalds raising wages, its not like people are going to stop eating at McDs because the cheeseburgers are now $1. more since the worker is making $12-15...they will be as busy as they always are.
I would not mind paying $1 more for a burger at McDs either, if I knew the employees were making enough to live on and support their families, I would be totally fine with that, and I would also NOT expect to get a raise either, Im not having any problems supporting myself, in other words, my job pays me enough, so there is no problem there. Im not sure why some people think they now deserve a raise since people making MW do? LOL
Thats kind of what I said in another thread about McDonalds raising wages, its not like people are going to stop eating at McDs because the cheeseburgers are now $1. more since the worker is making $12-15...they will be as busy as they always are.
I would not mind paying $1 more for a burger at McDs either, if I knew the employees were making enough to live on and support their families, I would be totally fine with that, and I would also NOT expect to get a raise either, Im not having any problems supporting myself, in other words, my job pays me enough, so there is no problem there. Im not sure why some people think they now deserve a raise since people making MW do? LOL
Why wouldn’t they? If you’re a trained mechanic or electrician who worked for years for certification or paid for trade school and you have a minimum wage come in that pays the helper that just got hired $1 less than you’re making, yes you will demand more money and be pissed off.
Thats kind of what I said in another thread about McDonalds raising wages, its not like people are going to stop eating at McDs because the cheeseburgers are now $1. more since the worker is making $12-15...they will be as busy as they always are.
Actually, fast casual has grabbed large chunks of fast food clientele, as the price gap shrunk between them.
I will likely watch NYY at casual restaurant vs fast food, tonight, and all of the big chains offer weekday specials which are ultra competitive vs fast food. MW is a big part of why they can. Casual dining has larger % of staff at sub minimum which is mainly unchanged. McD's lacks that luxury, so when you raise MW, you put McD's at competitive disadvantage vs sit down casual dining.
Actually, fast casual has grabbed large chunks of fast food clientele, as the price gap shrunk between them.
I will likely watch NYY at casual restaurant vs fast food, tonight, and all of the big chains offer weekday specials which are ultra competitive vs fast food. MW is a big part of why they can. Casual dining has larger % of staff at sub minimum which is mainly unchanged. McD's lacks that luxury, so when you raise MW, you put McD's at competitive disadvantage vs sit down casual dining.
LOL, no .Families on the go/run will chose a fast food over a "casual anytime", different clientele.
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Most of these fast casual offer to go deals - no reason not to have a better quality of food for a couple of bucks more - and it makes the parents feel not as guilty about not cooking the meal at home. LOL.
Corporations have only one duty as a corporation. To earn as much profit as corporately possible for their shareholders. Anything less than that, by law, is wrong and they can be penalized for.
Until we rewrite the books, change the way corporations behave, you will always have companies like Walmart that do what they do in accordance with the law.
Actually, there was a time in our history when shareholders were a minority stake holder in the majority of business in this country. The mom and pop type business did not have stocks on wall street.
Capitalism can exist just fine without shareholders. They have become the third party in the way costing consumers a lot of money.
The motto in this country used to be the customer is number one and was rewarded with high quality American made goods.
Now the new motto is the shareholder is number one and the customer gets cheap plastic trinkets from communist china.
At one time, we left it up to people to either work more hours at a 2nd job, or learn some useful skills to get past jobs meant for the new unskilled entrant to the workforce.
That was as it should have stayed.
At one time Disney (etc) would never have imported H1bs and laid off Americans.
At one time the richest created railroads and industries, now many merely use wealth to skim wealth and yet we as a country do not differentiate them from venture capitalists and tax them the same.
At one time vertical price fixing was illegal.
At one time we enforced anti trust.
At one time there was a dignified job for the guy with an IQ of 90. You are not going to make a tech worker out of IQ90 and that is 25% of the population.
blah blah blah
Oh yes, Amazon is a terrible place to work, at least in the distribution centers, the 6 warehouses they have around here are always hiring, their employee turnover is crazy high, they cannot keep employees at all. Many quit their first day, walk off the job or go to lunch and never come back.
I don't know about any of that as I have never been in any distribution centers but you are right that this is more about not being able to keep employees than it is about social justice crap. The economy is so strong and the job market is so tight that wages must increase in order to retain employees.
However, I think that raising the minimum wage to 15/hour might have the unintended consequence of raising the high school drop out rate. If a kid can make a living and contribute to their family's household by flipping burgers or fulfilling Amazon orders, why stay in school?
Why wouldn’t they? If you’re a trained mechanic or electrician who worked for years for certification or paid for trade school and you have a minimum wage come in that pays the helper that just got hired $1 less than you’re making, yes you will demand more money and be pissed off.
Large scale private sector employers have a compensation philosophy, lead, match or lag the market.
Large scale employers rarely choose to lag for the obvious reason, turnaround. It’s obvious, Amazon has chosen to lead the market.
When large employers increase their starting wage, it ripples through their entire compensation system.
Perhaps it used to take an Amazon entry level employee 6.5 years ( speculation) of solid above average performance reviews to make $15/ hr. Now $15/hr is the starting wage. So it has to bump the seasoned employee’s wage to say $19.25/ hr. On their next anniversary.
It’s rather fascinating that people love to beat on large scale employers, despite that most have a long term track record of being leaders in terms of compensation packages, compared to ma/pa brick/ mortar.
Reportedly, a first term electrical residential wireman intern makes about $13.33/ hr, ( varies by local economy). This wage represents 30-50% of an experienced worker’s wage. The starting wage was $2-$6 more than Federal Minimum Wage. But now, it lags the starting wage at Amazon.
Which entry level position has the greatest long term income potential? That has to be weighed against the immediate gratification of a higher wage. Regardless, Amazon’s choice to lead as it relates to wage, puts pressure on most employers and will have a ripple effect.
It will also compel increased investment into custom industrial robotics/ technology substitution, designed to be substantially more productive than manpower.
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