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There you go, so now you have answered your own question this whole time in bold. Read out loud what you wrote.
No , i wont lower the QUALITY of my food since thats why people come to my business. If i lower my quality then people will go elsewhere or i will be just another plain ol pizzeria. Plus, i love to cook and i only use quality products , i dont like to eat **** .
So what i would do is RAISE prices or reduce employees hours. So now how does this help the min wage increase again ? It doesnt because now the employees are working less hours thus = less income. Some places reduce hours and some places reform and fire people. Yes , this is reality.
Also , since i raised my prices what has been achieved with the min wage increase? Nothing , it has worked to balance each other again and we will still be in the SAME boat as before. So we will now be back at square 1 again and another thread like this .
Also , Urbanlife78- Answer me as honest as possible , do YOU take some money from your pay check every week and give it to someone that works with you just because you feel bad and they make less then you but you perform more work then them and work harder?
What if you raise your prices causes you to lose customers and reducing hours reduces customer service thus causes you to lose customers. Is increasing your own profits at the expense of your employees worth that?
No, I don't give other people that work in my office money from my checks because I "feel" bad. I have no problem giving money to a coworker that helps me out with a sale and I am usually willing to help others out with my time when needed.
Why can't they afford to lose a CEO? What does the CEO do for the company to help increase productivity? If everyone that works below them stopped working, the company would stop making money. It sounds to me that it is better to take care of the workers to retain better quality people in order to increase productivity. Money is a great way to say thank you for hard work.
You must not know what a golden parachute is.
I am familiar with the communist's term "golden parachute". You can call it all you want but the fact is that is a preemploynent agreement signed by the employer and the CEO. The employer didn't have to sign that but they did and they should be obligated to pay. It is none of your business though.
I don't know what Steve Jobs did to save Apple from bankruptcy but he did. I don't know what Bill Gates, Warren Buffett and other CEOs did but they led their companies to success and paid a lot of employees.
You don't understand that increasing productivity does not necessarily mean more profit. You can increase your productivity all you want but if you can't produce any profit, there is no money for raise.
Well let's say the increase of productivity leads to an increase in profits but the only one seeing an increase in pay is the employer even though it was the employees who increased their work value. Why increase work value if the workers aren't getting a cut of that extra profit?
What if you raise your prices causes you to lose customers and reducing hours reduces customer service thus causes you to lose customers. Is increasing your own profits at the expense of your employees worth that?
No, I don't give other people that work in my office money from my checks because I "feel" bad. I have no problem giving money to a coworker that helps me out with a sale and I am usually willing to help others out with my time when needed.
What about those who just do their job not helping your specifically?
What businesses run on such a low profit margin as that?
Retail sales as an industry operates on 3-5% margins, as high volumes are where they make the profit totals. Publicly available financial reports will confirm this, and are available from any publicly traded corporation, mandated by law.
That's the point a lot of people have tried in vain to make in this behemoth of a thread. WalMart's 2012 (most accurate data for a whole year) profit margin was $15.77bn/$446.95 = 3.5%. If you increased the wage of every associate making less than $12.50 to that floor, it would raise the average salary of all WalMart employees (average it in to those making more than that) by ~$2 per hour across the board. That's $4,000 extra dollars (on average) per employee as an increase to Cost of Goods Sold. For all American employees, that translates to an extra $6 billion added to CoGS. But since we are mandating this wage increase not just for WalMart, but for every single American business that is part of WalMart's CoGS as well, let's tack on the same increase to their CoGS as WalMart suffered, thereby adding an indirect doubling of the labor increase to the CoGS. So now WalMart's CoGS goes up by $12 billion. I'll be nice and scale that back to $10 billion for fudge factor.
$10 billion added to CoGS sounds like nothing, when you use the dopey liberal meme of "against $446 billion in revenue!!" But WalMart's profit after CoGS, taxes, and all other costs....yeah for that $446 billion, WalMart kept $15.77 billion, which this "no problem, how bad can it be for such a piddly little wage increase" has just chopped by 63%, and left WalMart with an unsustainable 1.3% profit margin.
Tell a shareholder the corporation they are investing in is running on a 1.3% profit margin, and you'll see that stock price head south as people start dumping it.
So now WalMart, and every other similar operation in existence, must make choices to stay above unsustainable profit margins below 3%...raise prices and potentially lose revenue, and/or reduce costs some other way like reducing the number of employees.
Because LOTS OF BUSINESSES run on low profit margins and depend on volume to make money for the shareholders. Do the math. $2 per hour doesn't seem like much, but after doing ALL THE MATH, it's a whole lot more profound and dangerous than it first appears.
What if you raise your prices causes you to lose customers and reducing hours reduces customer service thus causes you to lose customers. Is increasing your own profits at the expense of your employees worth that?
No, I don't give other people that work in my office money from my checks because I "feel" bad. I have no problem giving money to a coworker that helps me out with a sale and I am usually willing to help others out with my time when needed.
Post 790 will answer this for you.
I didnt ask if your willing to help out , i am asking if YOU give a small amount of your pay check every week to someone that is making less then you but isnt working as hard as you ?
By the way , a buddy of mine does 40k a week in sales at his pizzeria , i bet that sounds like rich money to you huh ? He actually doesnt make much money due to his profits coming from quantity and not quality . If he takes a hit from his income , and doesnt adjust to make up for the loss his doors will be closed. Crazy huh ? even tho he does sales of 40k a week. If he gets a couple slow months hes barely getting by. Business' do get hit with some slow months , it happens.
I didnt ask if your willing to help out , i am asking if YOU give a small amount of your pay check every week to someone that is making less then you but isnt working as hard as you ?
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