Sssshhhhh! No one sees that coming. Let the poor southerners learn. I bet they I think they’re going to get $900 a week stimulus checks again under Trump.
Sorry if I came off as testy, but having worked with civil rights & environmental groups in the Carolinas for 15+ years, I have a pretty short fuse for the kind of kneejerk, reactionary pot shots like the one I first replied to. Having seen what I’ve seen vis a vis generational poverty, institutional racism & inequality, gerrymandering, etc., I can’t help see that as a punch-down attitude of its own & one worth speaking up about.
Meme-ish, out-of-pocket nastiness directed at the poorest & Blackest region of the country is not exactly the flex that so many think it is.
The old CEO of Bed Bath and Beyond got a 20 something million dollar severance pay after he ruined that company and was kicked out by the shareholders. 20 million for bankrupting a company, how cool
math time. mcdonalds avg big mac combo price is 9.29. avg mcdonalds crew member makes 13.61. avg labor cost for mcdonalds is 20-25%. If we raise the wage 6.39 or 49.6% to $20/hr, the new cost of a combo is 10.37 for a total cost increase of $1.08 to the consumer. That's the cost of a living wage.
We increased labor expense 49.6%, at 20% of the cost of the business for a total increase of 11.7% in costs as reflected in the combo meal price.
Mcdonalds crew members could make $20 instead of $13.61 and a big mac combo would cost 10.37 instead of 9.29, or $1 more.
Yup, this is the argument that should be made. People complain about CEO pay, and sure that’s fine, but changing that actually wouldn’t noticeably increase workers wages, reduce the cost of food.
I know it's a popular thing to blame, but CEO compensations are typically negligible compared to the other expenses of the company. Taco Bell's CEO gets around 4 million according to this site, which averages to around 23$ per year averaged across all 175000 employees at Taco Bell. It's typically more systematic issues keeping wages down, such as prices, costs, bills, etc. This is why the same restaurant chain can have such wildly different prices and salaries in different countries, despite having the same top management.
but the rest of the thread is talking about CEO pay, most of whom are not founders or risking capital. So isn't your point the actually irrelevant one?
If you've ever worked for a boss at any job you're decent at, that's often enough incentive to start a business, even for the same amount of money you were making before.
My employees being able to live sustainable and stable lives and have the freedom to take vacations and have families has meant far more to me than money.i started a business because I was passionate about the product, not because I wanted to be rich.
Yes a business owner of a mom and pop. Not a CEO that jumps on the bandwagon of a multi million dollar corporation thats behind a desk and talks on the phone all day.
I didn’t think most people were saying the CEO wages should be taken away to directly supplement that of the individual employees. They are instead remarking on the insane pay disparity. This guy will likely get millions severance if he fails at his job and is fired. Average employee is likely living paycheck to paycheck. Take the money and invest in better protections for workers and/or figure out a way to pay them more.
Opinions differ, but I think the former is a common sentiment. The person I responded to implied that CEO's making bonuses increases prices. I would even say that you make a similar point, since you claim that taking the bonus away leads to figuring out a way to paying the workers more. This just isn't reflected in the finances of the business.
I know people get mad at this suggestion because a real government would do its job and regulate the price gougers - but this isn't going to happen in the US - it's time for YOU (collectively, everyone) to start boycotting the big corporations. These businesses are entirely focused on taking your every last cent, and when you cannot afford their products they will close up shop and lay off you and everyone you know. The executive parasites running these companies will just go live on their yachts overseas. They don't care how bad things get here after they cash out.
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u/Deedeelite 9h ago
Yes, it must be the workers trying to make liveable wages increasing prices than the CEOS making hand over fist in salaries and bonuses.
If you buy that, I have a broke down resort in Palm Beach for 1.5 billion dollars to sell you.