US fast-food workers staging nationwide strike

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ComputerGeek25 said:
OK let me ask you this: If McDonalds were to raise their pay to a “living wage” why shouldn’t I quit my job as a computer programmer and take a less stressful job?
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“Less stressful” is a subjective term. I found McD’s work to be stressful in many ways entirely apart from computer programming.
 
ComputerGeek25 said:
OK let me ask you this: If McDonalds were to raise their pay to a “living wage” why shouldn’t I quit my job as a computer programmer and take a less stressful job?
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I think that would be a personal choice. I require a certain amount of stress in my work. Otherwise I become board, and cause trouble.😃
 
Mickey_Finn said:
Sounds like you kept busy.😉

But Fast-Food restaurants have on average a profit margin just under 5%. Which I’m lead to believe is quite healthy. Factor in as well that most Americans are working longer hours at less pay. The Fast Food guys are sitting pretty.

ATB
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Fast food requires intensive management and long hours. Would you be interested in buying a local franchise, managing dozens of employees with a high turnover rate, for a 5% profit? No me. I’d take my money and put in a safe managed fund at that rate.

Double the minimum wage, which also requires an appropriate increase for all employees not making minimum wage, and that profit margin disappears very quickly.
 
Mickey_Finn said:
Repeat: These are the same tired old threats that have been trotted out every time wages must increase. False then, false now.
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Actually not false. My profession is such that I deal with businesspeople and investors all the time (including some household names). I’m not going to ignore two decades worth of firsthand information because someone person on the internet says otherwise.
By the way, there is nothing against Christ teachings in trying to help the less fortunate.😉
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I’m all for helping the less fortunate, and even have children of a different race as evidence. But I am very against taking action that does the complete opposite, as raising the minimum wage does. There are much, much better ways to help the less fortunate than artificially tampering with markets.
 
TheWarriorMonk said:
Actually not false. My profession is such that I deal with businesspeople and investors all the time (including some household names). I’m not going to ignore two decades worth of firsthand information because someone person on the internet says otherwise.

I’m all for helping the less fortunate, and even have children of a different race as evidence. But I am very against taking action that does the complete opposite, as raising the minimum wage does. There are much, much better ways to help the less fortunate than artificially tampering with markets.
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Raising minimum wages only costs jobs because the guys on top don’t want their excessive profits to dwindle. It is a contrivance, not a real cause and effect.
 
Cricket2 said:
Raising minimum wages only costs jobs because the guys on top don’t want their excessive profits to dwindle. It is a contrivance, not a real cause and effect.
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As I suggested previously, you should go ahead and buy a franchise and pay your workers $25/hr. That way, when you have no profits or are operating in the red, your statement about excessive profits will have some validity. Otherwise, your post is simply a reflection of your envy.

Peace

Tim
 
Cricket2 said:
Raising minimum wages only costs jobs because the guys on top don’t want their excessive profits to dwindle. It is a contrivance, not a real cause and effect.
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So what’s an acceptable profit margin at which a company can operate?
 
Cricket2 said:
Raising minimum wages only costs jobs because the guys on top don’t want their excessive profits to dwindle. It is a contrivance, not a real cause and effect.
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Nonsense. Sorry, but 5% is not excessive profit. Would you really run a labor intensive business for only 5% profit? Not me…

BTW, you are treating every business as if it is a megacorporation. Minimum wage affects mom-and-pop shops that are set up as corporations also. There are far more of them than megacorporations, and the effects of a minimum wage increase has a much great impact, especially locally. Local businesses often have much less of a profit margin to work with, as well as lower capital reserves, and can’t just arbitrarily double people’s salaries. And FWIW, many of the smaller operations are doing without the minimum wage employee in the current environment, mainly due to increased regulations (including ObamaCare).
 
Mickey_Finn said:
:confused: I don’t know if you are tooting your own horn, or just rambling. This is a thread about increasing the minimum wage.

ATB
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I was pointing out that there are other (and better) ways to help people than artificially raising wages, which you seem to favor.

If you really want to help people avoid poverty:
  1. Teach people to respect the person and property of others. Crime is a major cause of poverty.
  2. Teach people to keep their word from the time they are very young. That is the central condition of obtaining credit, and the lifetime difference between good and bad credit is more than $200,000.
  3. Teach people to get their priorities in order. Many people struggle because of really dumb choices they make in the way they manage the assets they have.
  4. Teach people to respect marriage. The choice to disrespect marriage is by far the biggest cause of poverty in the US. The family headed by a single woman is 5 times as likely to live in poverty as the family headed by a married couple. That is from government figures that also ignore the higher costs for a single parent family, so the situation is actually worse. Unfortunately the cost is also borne by the children and other family members of the people who choose to disrespect marriage–and of course also by taxpayers.
 
stinkcat_14 said:
That doesn’t tell me enough to determine whether it is a good idea to open a fast food franchise.
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You asked what the 5% referred too. The answer is 5% of revenues.🤷

Revenues - expenses = profits

If you want to open a McD franchise, first you need about a million of your own cash just to even apply for a franchise. If you don’t have that…don’t even bother.
 
Dawnia said:
You asked what the 5% referred too. The answer is 5% of revenues.🤷

Revenues - expenses = profits

If you want to open a McD franchise, first you need about a million of your own cash just to even apply for a franchise. If you don’t have that…don’t even bother.
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If anyone has $1,000,000 to spare and wishes to open a fast-food franchise at 5% profit, please contact me; I can do much better than that. You’re money down; my labor and management, and we split the profit 50%. Plus the labor used won’t be minimum wage; everyone will make at least $20 per hour.
 
If you got a 3.62% return on your investment, would you consider that excessive? Every fast food place I worked has labor costs higher than than. Doubling the minimum would mean the company is in the red. so prices would have to be raised significantly to get back to that “excessive” 3.62% profit level.
 
TheWarriorMonk said:
If you got a 3.62% return on your investment, would you consider that excessive?
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Your revenue is not your investment. Your investment in your equity in the company. Walmart’s return on equity is 22%, which is very high. What is the McDonald’s franchise ROE?
Every fast food place I worked has labor costs higher than than. Doubling the minimum would mean the company is in the red. so prices would have to be raised significantly to get back to that “excessive” 3.62% profit level.
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Can you cite some numbers regarding the Income statements of McDonalds franchisees, otherwise we cannot intelligently predict anything about what an increase in the minimum wage would do relative to the minimum acceptable level of profitability.
 
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