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That tens of billions in debt, I wonder is for what. I doubt they are selling their food items cheaper then they themselves can purchase at. So really what other fixed/variable costs they have? Electricity to keep the coolant system running? Power washing the parking lots? Or maybe the main owners have used the Kroger name to enter into some kind of Financial gimmicky paper ponzi scheme with bonds etc etc.
They've bought a lot of market share over the last decade.
So I’m not a fan of the idea of anyone telling a company what they have to pay, and if Kroger chooses to close their stores in lieu of increasing the hourly pay of “front-line” workers during the pandemic that’s a decision they can make. However, I think it’s pretty crappy for a company that is doing pretty well financially not to either voluntarily increase their front line worker pay or comply with the local pay increase law given the circumstances of the past 15 months. The grocery store workers don’t have the benefit of being able to work at home, and their services have been pretty darn essential in keeping people fed. Personally, I would prefer to give my business to grocery store that tries to do better by its employees, and I’d be willing to pay more for my groceries to a store that does so. So, for me, just like Kroger can choose to close down stores, I can choose to shop elsewhere. I would encourage others to do the same. This is not a good look for Kroger.
Really? Do you ever think before you speak?
That's just YOU who can afford to pay more for groceries. Cali is one of the poorest states in the country in terms of COL for hourly workers. There are more hourly workers buying groceries at Kroger than there are working at Kroger. So Kroger would simply have priced its customers out of its market by raising grocery prices to compensate for a $4/hr hike. Kroger analyzed the chess game beyond the first move, unlike you. Kroger would have had to close the stores anyway - it would just have been a slower, lingering death. Once a decision is inevitable, you execute now.
As well, there is precedent. Once Kroger is compelled to INCREASE worker pay by government fiat due to a current "emergency", how is Kroger going to DECREASE it once the "emergency" is over? As a practical matter, a one-time increase is a PERMANENT increase. Can you see the riots? The burning buildings? The CNN "journalists" decrying "starvation" wages? Try to picture it. The greasy bureaucrats will be forced to decree a $4/hour increase in hourly wages for every employee in Long Beach across the board. That action will be necessary to avoid the city being burned down. So, an "emergency" is made permanent. Do not kid yourself - ALL of the hourly workers will ride the wave. The Governor will be compelled to increase all hourly wages by $4 across the state. Resulting in even more businesses leaving the state, and in even more of the California vermin jumping ship and metastasizing into other states.
That is the difference between ******* government slugs and the private sector. The Kroger business analysts have got to think about the long-term consequences of business decisions, even if the decisions are forced by bureaucrats who pass their collective three brain cells around. By the way, two of the Cali bureaucrats' collective three brain cells are inhibitory. That is a joke.
For all those complaining about increasing the minimum wage, are you promoting a permanent underclass?
The way to get people out of a permanent underclass is clear, outlined by a left-wing think tank, the Brookings Insitutiton.
I’ve been studying single mothers since long before “Murphy Brown” was on the air. In a study I co-authored with Adam Thomas, I put them into hypothetical households with demographically similar unmarried men who, in principle, would be good marriage partners. Through this virtual matchmaking, we showed that child poverty rates would fall by as much as 20 percent in an America with more two-parent households.
In later research, Ron Haskins and I learned that if individuals do just three things—finish high school, work full time and marry before they have children—their chances of being poor drop from 15 percent to 2 percent
They've bought a lot of market share over the last decade.
Then indeed they put themselves into debt so they can potentially make even more money.
Quote:
Originally Posted by sheerbliss
Pensions, for one thing. You know how to find and read financial statements, don't you?
.
Kroger created so many stores in their name knowing they will have more pension liability then it seems their sales projections can meet. If what you say is true, that is. As I stated earlier, Kroger clearly dont factor their liabilities when expanding or doing day to day business. The more stores they have the more employees and more potential pensions.
So I’m not a fan of the idea of anyone telling a company what they have to pay, and if Kroger chooses to close their stores in lieu of increasing the hourly pay of “front-line” workers during the pandemic that’s a decision they can make. However, I think it’s pretty crappy for a company that is doing pretty well financially not to either voluntarily increase their front line worker pay or comply with the local pay increase law given the circumstances of the past 15 months. The grocery store workers don’t have the benefit of being able to work at home, and their services have been pretty darn essential in keeping people fed. Personally, I would prefer to give my business to grocery store that tries to do better by its employees, and I’d be willing to pay more for my groceries to a store that does so. So, for me, just like Kroger can choose to close down stores, I can choose to shop elsewhere. I would encourage others to do the same. This is not a good look for Kroger.
Do you know how many businesses stopped heroes pay almost a year ago? My son works for Comcast, his hero pay stopped early May 2020.
I wish I could recall the last time I asked at my Walmart if any workers had COVID, it was a few months ago, they always tell me no.
My hub works at Sam's club on the weekends on the floor, no hero pay for him either.
Why are they heroes? I go out and shop for my own food, am at Walmart at least once a week. I have not gotten COVID.
There is a vaccine now. Granted, some still get COVID with the vaccine, especially the new strain, but it adds some protection.
The only people I consider heroes are the medical community who are actually treating patients with COVID. That's who should get hero pay.
"The mayor has threatened to sue Kroger over the Long Beach closures, though it's not clear on what grounds he would do so."
Smacks of total government control over business; of course, laws must be followed--since the detractors will surely comment on that, but for a government to say whether a privately-owned business can close or not? I've been criticized over and over about how this country's trending toward socialism/communism, but for those to deny it they must be blind or in a state of denial. The younger generation which are the ones taking over government/leadership positions (not that this mayor is young or anything, don't read what I'm not saying) are not familiar with history. Socialism is idealistic, but it just doesn't work (again, a characteristic of younger people to be idealistic--thus centralized power to help those that are marginalized and underserved sounds as though it can't go wrong).
But, I would just encourage the entire country that outside of a phenomenal widespread and costly revolution (which really will just not happen here, nor would it be effective) be prepared for this country, if it is not already considered by some standards, to become a socialist country. Government will in reality, not in the way that term/idea is thrown about flippantly now, have control of every aspect of private as well as civil life.
[This is a side note, not entirely related to the topic, but speaking of detractors, like in my comment on how government is going to have complete and total control over businesses. Once I was on here (in some forum not necessarily this one) saying how, I think it was when some states were saying whether or not people can grow vegetable gardens, when someone who owns a private property should be able to do whatever they want with it. Then of course I get someone who says something like "you think you can do whatever you want on your property, you know there's laws you have to follow even when you privately own something." Yes, of course--we all know there's laws. You can't turn the lot you have in your community into a massive circus venue. I'm going through the process now of making sure I can legally construct a produce stand in front of my house. Insane power-hungry laws like you can't have a vegetable garden on your property is interfering with the routine and normal pursuits of a private person.
Exactly what that socialist mayor is trying to do in (socialist) California with the privately owned business. If he wants to close those 2 stores, that's his decision to do so and the government needs to stay out of it. And if they don't please for the love of all that is good and right stop living the lie that your political party is democratic and rename it the socialist party!!! ***Why*** do they insist on keeping a facade, like hanging a "barber shop" sign outside of a pet store. So someone walks into the store and is like "What?? I thought I was going to be able to get a hair cut here!" Same thing with the democratic party].
Last edited by Basiliximab; 04-21-2021 at 04:23 AM..
That's just YOU who can afford to pay more for groceries. Cali is one of the poorest states in the country in terms of COL for hourly workers. There are more hourly workers buying groceries at Kroger than there are working at Kroger. So Kroger would simply have priced its customers out of its market by raising grocery prices to compensate for a $4/hr hike. Kroger analyzed the chess game beyond the first move, unlike you. Kroger would have had to close the stores anyway - it would just have been a slower, lingering death. Once a decision is inevitable, you execute now.
As well, there is precedent. Once Kroger is compelled to INCREASE worker pay by government fiat due to a current "emergency", how is Kroger going to DECREASE it once the "emergency" is over? As a practical matter, a one-time increase is a PERMANENT increase. Can you see the riots? The burning buildings? The CNN "journalists" decrying "starvation" wages? Try to picture it. The greasy bureaucrats will be forced to decree a $4/hour increase in hourly wages for every employee in Long Beach across the board. That action will be necessary to avoid the city being burned down. So, an "emergency" is made permanent. Do not kid yourself - ALL of the hourly workers will ride the wave. The Governor will be compelled to increase all hourly wages by $4 across the state. Resulting in even more businesses leaving the state, and in even more of the California vermin jumping ship and metastasizing into other states.
That is the difference between ******* government slugs and the private sector. The Kroger business analysts have got to think about the long-term consequences of business decisions, even if the decisions are forced by bureaucrats who pass their collective three brain cells around. By the way, two of the Cali bureaucrats' collective three brain cells are inhibitory. That is a joke.
I was nothing but polite when I made my post. I tried to express a contrary opinion that was respectful and did not attack anyone personally for a contrary point of view. When you said “Really? Do you ever think before you speak?” you were certainly not respectful and attacked me personally. Not very sporting of you.
Last edited by WVNomad; 04-21-2021 at 04:19 AM..
Reason: Typos
Do you know how many businesses stopped heroes pay almost a year ago? My son works for Comcast, his hero pay stopped early May 2020.
I wish I could recall the last time I asked at my Walmart if any workers had COVID, it was a few months ago, they always tell me no.
My hub works at Sam's club on the weekends on the floor, no hero pay for him either.
Why are they heroes? I go out and shop for my own food, am at Walmart at least once a week. I have not gotten COVID.
There is a vaccine now. Granted, some still get COVID with the vaccine, especially the new strain, but it adds some protection.
The only people I consider heroes are the medical community who are actually treating patients with COVID. That's who should get hero pay.
So I’m glad you have not gotten COVID. Not everyone who works with the public on a regular basis (like grocery store workers) has been so lucky. I hope your husband will also be ok.
You raise a reasonable point which is how long should this premium pay be in effect? I don’t know,...maybe now, maybe three months ago, maybe in 4 months. I’m not suggesting this premium pay be a back door way of increasing wages indefinitely. I would hope reasonable people could find a common ground on an appropriate term for premium pay based on the extent and duration of the pandemic.
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