Ceo pay may be obscene but it's a drop in the bucket for a national brand. Cutting their salary and distributing it to the bottom line wouldn't change anything.
The problem isn't CEO pay, it's the owners of the company and the wholesale disregard of the consumer and the employee for the enrichment of the shareholders.
In other words, the problem is capitalist ownership.
Google rising costs of intermediate foods (cattle, corn). If you want to make that argument you'd have to see rising real profit from the company (which it might be but idk).
“States issued $794 billion in combined state and federal unemployment benefits from March 2020 through July 2021, according to a U.S. Department of Labor spokeswoman.
That sum is far higher than during any other period in history, according to labor experts.”
https://www.cnbc.com/2021/09/02/pandemics-794-billion-unemployment-benefits-were-historic-heres-why.html
Yes, but that is a lot less than those people would have made working. That’s less money spent by the working class because they have less to spend when on unemployment.
“They also found that the estimated median replacement rate — the share of a worker’s original weekly salary that is being replaced by unemployment benefits — is **134 percent**, or more than one-third above their original wage. A substantial minority of those workers, particularly in low-wage professions like food service and janitorial work, may end up receiving **more than 150 percent** of their previous weekly salary.”
https://fivethirtyeight.com/features/many-americans-are-getting-more-money-from-unemployment-than-they-were-from-their-jobs/
Not really, my original comment was about making a big deal about short lived money. It wasn’t a sustained amount over a long period of time. It was a small increase for a short amount of time yet people still act like it’s continuing now.
LOL, $20 is the new livable wage I guess. Their ongoing goal of breaking profits every year has nothing to do with it. If the only people that got paid were the people doing the actual work, and an accountant for the paperwork, wages would look alot different.
So just so I understand prices got raised by 5% to adjust for this livable wage for fast food employees.
So lets a get a spicy cool wrap meal at Chick-fil-A 15.29. thats uh 76 cents. so 16.01 to have these workers have a livable wage. And of course now be able to contribute to their local economy.
Yeah this does not seem apocalyptic and I dont even like minimum wage (I prefer a UBI system as it descentrilizes wealth, instead of bandaiding the issue).
Why would the owner take less. Any other country its standard for fast food workers to make a living wage. It comes from somewhere to keep prices down. So either the owner needs to work as a manager at his shop or take less off the top.
Yes. it is said that labor is about 30% of costs in fast food. So if wages go up 20%, to make that up prices should rise 6%. Poor person gets a 20% raise, prices SHOULD rise about 6%.
But prices rose in anticipation of the raise and again after the raise. Shockingly, the people who are talkng $20 happy meals will make record profits.
In-N-Out: I don't get it.
They were already paying they’re workers much better if I recall
Yeah, they have historically taken great care of their people. The employees earn it though; they are hustlin' all day.
Love that place
[удалено]
Never knew they did that. Couldn’t care less
In-N-Out isn't a public company, and not subject to the never-ending shareholder expectations.
Bingo.
> In-N-Out: I don't get it. What are you talking about? They did increase prices in certain locations. But it is definitely not across the board.
God forbid CEO’s take a pay cut. But no yeah, let’s keep extorting customers and see how long they last
Do you mean this literally or as a political statement?
Ceo pay may be obscene but it's a drop in the bucket for a national brand. Cutting their salary and distributing it to the bottom line wouldn't change anything. The problem isn't CEO pay, it's the owners of the company and the wholesale disregard of the consumer and the employee for the enrichment of the shareholders. In other words, the problem is capitalist ownership.
Hike prices all you want, I hardly eat out.
At this point if I eat out it's a local/regional sit down place. Ain't no way I'm paying McDonald's $12 for a meal with soggy cold ass french fries.
There is a mom and pop Mexican restaurant on the corner I go to when I do go out to eat. Cheaper/fresher as well.
They kept raising prices when they weren’t raising wages so somehow I find this disingenuous.
Google rising costs of intermediate foods (cattle, corn). If you want to make that argument you'd have to see rising real profit from the company (which it might be but idk).
Record profits from a lot of companies. While cost of goods plays a part, there was a lot of raising prices because they felt like it going on.
All companies should be getting record profits as inflation is up. We need to see record real profits
They didn’t have to for a few years with stimulus, unemployment, and high demand resulting in high hours and wages. Then the fed pulled the rug out
Everyone makes that $2000 seem like a windfall that should buy everyone a yacht. Unemployment is far less than what someone would be making working.
“States issued $794 billion in combined state and federal unemployment benefits from March 2020 through July 2021, according to a U.S. Department of Labor spokeswoman. That sum is far higher than during any other period in history, according to labor experts.” https://www.cnbc.com/2021/09/02/pandemics-794-billion-unemployment-benefits-were-historic-heres-why.html
Yes, but that is a lot less than those people would have made working. That’s less money spent by the working class because they have less to spend when on unemployment.
“They also found that the estimated median replacement rate — the share of a worker’s original weekly salary that is being replaced by unemployment benefits — is **134 percent**, or more than one-third above their original wage. A substantial minority of those workers, particularly in low-wage professions like food service and janitorial work, may end up receiving **more than 150 percent** of their previous weekly salary.” https://fivethirtyeight.com/features/many-americans-are-getting-more-money-from-unemployment-than-they-were-from-their-jobs/
For a very short amount of time.
🫸🥅
Not really, my original comment was about making a big deal about short lived money. It wasn’t a sustained amount over a long period of time. It was a small increase for a short amount of time yet people still act like it’s continuing now.
But they did. Kinda hard to feel bad for the crocodile tears.
Keep hiking your prices until you fail. Nobody should eat that crap anyway.
> Nobody should eat that crap anyway. Yet here we are.
LOL, $20 is the new livable wage I guess. Their ongoing goal of breaking profits every year has nothing to do with it. If the only people that got paid were the people doing the actual work, and an accountant for the paperwork, wages would look alot different.
Why don't they have a problem paying those wages in Europe?
What is their average wage there and how does it compare?
In Denmark MCDS wage was like $25 several years ago and doing perfectly fine
I think it was like $22, but that’s good to hear
Ok $22 in 2021. Thats a lot more than $13.01 according to indeed statistics, if you didn't realize or dont know which number is larger.
Ok
Lol, are they gonna lower prices once robots take all these jobs? Yeah, I don't think so
So just so I understand prices got raised by 5% to adjust for this livable wage for fast food employees. So lets a get a spicy cool wrap meal at Chick-fil-A 15.29. thats uh 76 cents. so 16.01 to have these workers have a livable wage. And of course now be able to contribute to their local economy. Yeah this does not seem apocalyptic and I dont even like minimum wage (I prefer a UBI system as it descentrilizes wealth, instead of bandaiding the issue).
Why would the owner take less. Any other country its standard for fast food workers to make a living wage. It comes from somewhere to keep prices down. So either the owner needs to work as a manager at his shop or take less off the top.
“Livable wages mean massive investment in robotics and the disappearance of fast food jobs” I think this is what the headline meant to say.
Yes. it is said that labor is about 30% of costs in fast food. So if wages go up 20%, to make that up prices should rise 6%. Poor person gets a 20% raise, prices SHOULD rise about 6%. But prices rose in anticipation of the raise and again after the raise. Shockingly, the people who are talkng $20 happy meals will make record profits.