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(NPR)   Since 2000, CEOs of fast food chains have seen their salaries quadruple. Their employees, however, have seen their salaries decrease by a minimum of 1%   (npr.org) divider line 294
    More: Sick, fast food restaurant chains, CEO, reductions, proxy statement, Yum!, salary, Scott Stringer  
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5081 clicks; posted to Main » on 22 Apr 2014 at 9:46 PM (18 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-04-23 04:17:53 AM
 
2014-04-23 04:56:02 AM
Papa John Schnatter himself had $2,750,000 earnings in 2010, split that yearly earning with all 20,700 Papa John's employee's equally (they all deserve equal portions, not on actual value to the company) and everyone get's a check for $132.85. The guy who actually established the brand that is employing thousands of people is the bad guy? Insanity.
 
2014-04-23 05:05:54 AM
If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.
 
2014-04-23 05:29:39 AM

Brainsick: Bonzo_1116: Yeah_Right: I case anyone hasn't done the math....

CEO make $22,000,000
Yum Brands has about 17,000 fast food stores (KFC, Taco Bell, Pizza Hut combined)
Assume there are ~10 fast food workers at each store.
Take every last dime from the CEO's compensation and divvy it up among the workers...

22,000,000/177000 =  and extra $124.30 per year.

Feel better yet...?

The $22,000,000.00 would be better spent researching how to keep the inner hard shell crunchy on their multi-layered taco things.

$1294.11 without adding an extra 70,000 franchises into your math...

Your point is still stupid because it's not a 1/1 exchange. CEO's get things like company cars (sometimes with a driver), paid accomodations when they travel, benefits packages that often include perks like (personal) cars, houses, and stock portfolio's...there's a lot more to what a Fortune 1000 CEO 'makes' than their salary


/college football and basketball coaches are even more greedy


Hell the coaches demand sexual rights to many of their players.
 
2014-04-23 05:37:43 AM

whidbey: If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.


Oh, for fark's sake.
Average labor contribution to costs of goods sold is ~18.5%. Average gross margin for the S&P 500 was a tad over 38% last year.
Let's pretend that doubling the minimum wage doubles all wages (it doesn't), and overestimate labor's "new" contribution to COGS at 35%. Let's even throw in an overly pessimistic inflation multiplier equal to that of food stamps ~1.75.
The total average cost-push inflation as the effects propagate is 28% using the most pessimistic numbers I can reasonably justify, and that inflation would take place over several years.

And that's for doubling everybody's wages, which absolutely nobody has proposed. That said, the positive effect on GDP for doubling wages - for everybody - is more than enough to overwhelm any inflationary effects.

Now let's apply that only to the 25% of hourly workers making less than $14.50 an hour, and earn less than six percent (6%) of total US income: The inflationary effect of doubling minimum wage drops to less than 10%.


/Next step: Some math impaired, reality rejecting Austrian will enter the thread.
//Mark my words, whids: Some half-wit saying that, as an expert MBA, doubling minimum wage will double prices, guaran-damn-teed.
 
2014-04-23 05:37:57 AM
Umm, low-skill workers can only demand so much these days before automation happens. Reducing regulations, so that one doesn't need to be a chain to handle the insane amounts of paperwork it often takes to open up a freaking pizza place would help a lot more when it comes to bringing down CEO pay (and increasing wages).b-i.forbesimg.com
 
2014-04-23 05:44:48 AM

dmoynihan: low-skill workers can only demand so much these days before automation happens.


Ah yes, just threaten them if they dare demand better for themselves.
 
2014-04-23 06:06:50 AM

WhyteRaven74: dmoynihan: low-skill workers can only demand so much these days before automation happens.

Ah yes, just threaten them if they dare demand better for themselves.


Didn't seem like a threat. Just reality.
 
2014-04-23 06:10:56 AM

demaL-demaL-yeH: whidbey: If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.

Oh, for fark's sake.
...
Now let's apply that only to the 25% of hourly workers making less than $14.50 an hour, and earn less than six percent (6%) of total US income: The inflationary effect of doubling minimum wage drops to less than 10%.


/Next step: Some math impaired, reality rejecting Austrian will enter the thread.
//Mark my words, whids: Some half-wit saying that, as an expert MBA, doubling minimum wage will double prices, guaran-damn-teed.


The whole "raising the minimum wage will just pass those costs on to the consumer" argument is a bluff by the "job creators" anyway.  And the correct response to that argument is to -in poker terms- call.

Go ahead McDonalds, charge that $15 dollars for a hamburger to offset the minimum wage -see what happens.  McDonalds will either eat the costs of the wage raise in other areas; optimally in the disproportionate CEO salaries, or in other equally easily manageable areas like their ridiculous, superfluous advertising, or they'll go out of business and another product will fill the void with an actual business model that accommodates living wages.

Killing the giant is probably in our best long term interests.
 
2014-04-23 06:27:32 AM
Pay ratios and profit sharing, now.
 
2014-04-23 06:29:29 AM

teenage mutant ninja rapist: Time to tax all executive bonuses at 95%


Good.  Let's get back to pre-Kennedy tax laws.  Since Kennedy was the one who lowered the tax rates for the wealthy down to 70%.  And before that, the wealthy were okay with paying 90% taxes.  I wonder which political party Kennedy was a member of?
 
2014-04-23 06:29:51 AM

Frederick: demaL-demaL-yeH: whidbey: If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.

Oh, for fark's sake.
...
Now let's apply that only to the 25% of hourly workers making less than $14.50 an hour, and earn less than six percent (6%) of total US income: The inflationary effect of doubling minimum wage drops to less than 10%.


/Next step: Some math impaired, reality rejecting Austrian will enter the thread.
//Mark my words, whids: Some half-wit saying that, as an expert MBA, doubling minimum wage will double prices, guaran-damn-teed.

The whole "raising the minimum wage will just pass those costs on to the consumer"

No, they will hire SKILLED workers who are able to do the work of 2 unskilled workers, unemployment rises for those unskilled workers.

 
2014-04-23 06:43:41 AM

Tetrazphere: The whole "raising the minimum wage will just pass those costs on to the consumer"

No, they will hire SKILLED workers who are able to do the work of 2 unskilled workers, unemployment rises for those unskilled workers.


*snerk*
None of the Austrians ever wants to answer the following:
Please explain how the fark SKILLED burger-flippers/fry-dippers are different from ordinary ones.
Then explain how the four decade deskilling of labor via technology fits into this scenario, please.
When you plot the decline in union membership in the work force and the percentage of the population dropping out of the middle class, the lines are farking collinear. Why is that?
When you compare average blue collar wages in right-to-work states to union states, guess what you find.

/These are not a random coincidences.
 
2014-04-23 07:16:28 AM
so if corporations are people, would said person have a farked up mutated body with disproportionate limbs and an oversized head dragging on the ground? somebody needs to get this corporation to a hospital
 
2014-04-23 07:24:44 AM

demaL-demaL-yeH: Tetrazphere: The whole "raising the minimum wage will just pass those costs on to the consumer"

No, they will hire SKILLED workers who are able to do the work of 2 unskilled workers, unemployment rises for those unskilled workers.

*snerk*
None of the Austrians ever wants to answer the following:
Please explain how the fark SKILLED burger-flippers/fry-dippers are different from ordinary ones.
Then explain how the four decade deskilling of labor via technology fits into this scenario, please.
When you plot the decline in union membership in the work force and the percentage of the population dropping out of the middle class, the lines are farking collinear. Why is that?
When you compare average blue collar wages in right-to-work states to union states, guess what you find.

/These are not a random coincidences.


"Skilled burger flippers" are the ones who can also do inventory, P and L, effective customer service, maintain superior production skills and have the ability to flow to any position as needed, for instance, would be 'skilled' in comparison with the typical job requirements of a minimum wage employee.

And any current succesful union is for SKILLED labor!
 
2014-04-23 07:38:00 AM

Frederick: demaL-demaL-yeH: whidbey: If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.

Oh, for fark's sake.
...
Now let's apply that only to the 25% of hourly workers making less than $14.50 an hour, and earn less than six percent (6%) of total US income: The inflationary effect of doubling minimum wage drops to less than 10%.


/Next step: Some math impaired, reality rejecting Austrian will enter the thread.
//Mark my words, whids: Some half-wit saying that, as an expert MBA, doubling minimum wage will double prices, guaran-damn-teed.

The whole "raising the minimum wage will just pass those costs on to the consumer" argument is a bluff by the "job creators" anyway.  And the correct response to that argument is to -in poker terms- call.

Go ahead McDonalds, charge that $15 dollars for a hamburger to offset the minimum wage -see what happens.  McDonalds will either eat the costs of the wage raise in other areas; optimally in the disproportionate CEO salaries, or in other equally easily manageable areas like their ridiculous, superfluous advertising, or they'll go out of business and another product will fill the void with an actual business model that accommodates living wages.

Killing the giant is probably in our best long term interests.


It is scary that people can be as utterly misguided as you.

"Business model that can accommodate a living wage". You actually typed that.
 
2014-04-23 07:49:07 AM
McDonald's did helpfully provide that budget calculator for their minimum wage employees that figured out how much they should tip their maids and nannies, so I think it's pretty clear that they understand the issue.
 
2014-04-23 07:57:23 AM
This stuff is par for the course, but it's not like I have much influence over the behavior of companies whose products I don't buy anyway.
 
2014-04-23 08:06:16 AM
This is why Farklibs will never be CEOs, and will be getting me my fries.

Liberal economics is funny. Punish anyone who makes money, and somehow that makes everyone happier and wealthier.....
 
2014-04-23 08:10:16 AM

Debeo Summa Credo: Frederick: demaL-demaL-yeH: whidbey: If we raise the minimum wage to 15.00 a Big Mac will cost 15 dollars.

Because somebody said so. Or something.

Oh, for fark's sake.
...
Now let's apply that only to the 25% of hourly workers making less than $14.50 an hour, and earn less than six percent (6%) of total US income: The inflationary effect of doubling minimum wage drops to less than 10%.


/Next step: Some math impaired, reality rejecting Austrian will enter the thread.
//Mark my words, whids: Some half-wit saying that, as an expert MBA, doubling minimum wage will double prices, guaran-damn-teed.

The whole "raising the minimum wage will just pass those costs on to the consumer" argument is a bluff by the "job creators" anyway.  And the correct response to that argument is to -in poker terms- call.

Go ahead McDonalds, charge that $15 dollars for a hamburger to offset the minimum wage -see what happens.  McDonalds will either eat the costs of the wage raise in other areas; optimally in the disproportionate CEO salaries, or in other equally easily manageable areas like their ridiculous, superfluous advertising, or they'll go out of business and another product will fill the void with an actual business model that accommodates living wages.

Killing the giant is probably in our best long term interests.

It is scary that people can be as utterly misguided as you.

"Business model that can accommodate a living wage". You actually typed that.


With your limited knowledge, bordering on offensive stupidity, you're not even qualified to look at the internet much less contribute to its hallowed intellectual tradition; that's sarcasm obviously, you're right where you belong.
 
2014-04-23 08:13:34 AM

some_beer_drinker: 12349876: Lokkii: Cheer up fast food workers. As usual, upwards pressure on wages will accelerate the drive towards mechanization and automation. In 20 years fast food worker wages won't be a problem any more since there will only be a dozen or so in the country.

Gas pump jockeys were first, right now it's grocery store checkout clerks, and soon it will be burger flippers.

Good.  I'm all for a society where all the mindless drudgery is done by machines and a guaranteed basic income that can allow as many people as possible to focus on creative pursuits that will increase the number of artistic and technological breakthroughs.


i concur.


Capitalism needs to die.
 
2014-04-23 08:14:19 AM

Thunderpipes: This is why Farklibs will never be CEOs, and will be getting me my fries.

Liberal economics is funny. Punish anyone who makes money, and somehow that makes everyone happier and wealthier.....


Yeah we punished those successful plantation owners too, mainly out of jealousy.
 
2014-04-23 08:29:56 AM
cdn-www.i-am-bored.com

But worst of all, he makes some seriously shiatty pizza. And THAT I can not forgive.
 
2014-04-23 08:37:55 AM

blurr_grrl


upload.wikimedia.org
Actually, Tim Horton's is owned by Wendy's International, Inc., an American company since 1995. It is franchised out now.
Both facts much to the chagrin of a lot of Canadians.


Nonsense. This pic you showed was from the brief period when Tim and Wendy were cohabitating. They have since split up.

From http://www.timhortons.com/us/en/about/index.html:

"In March 2006, Tim Hortons completed an initial public offering of the company and was fully spun off as a separate company as of September 29, 2006. Tim Hortons trades on the NYSE and TSX (THI)."
 
2014-04-23 08:38:25 AM
If they had paid more attention as school, then they'd earn more money.
 
2014-04-23 08:40:02 AM

Thunderpipes: This is why Farklibs will never be CEOs, and will be getting me my fries.

Liberal economics is funny. Punish anyone who makes money, and somehow that makes everyone happier and wealthier.....


We all can't be pickle farkers.
 
2014-04-23 08:42:22 AM

SpectroBoy: [cdn-www.i-am-bored.com image 700x876]

But worst of all, he makes some seriously shiatty pizza. And THAT I can not forgive.


I can't lie I actually perfer his pizza over the "chain" pizza joints that are out there.  Of course you have never had my local pizza joint that only the locals eat at that has the best pizza.
 
2014-04-23 08:48:22 AM

HotWingConspiracy: McDonald's did helpfully provide that budget calculator for their minimum wage employees that figured out how much they should tip their maids and nannies, so I think it's pretty clear that they understand the issue.


At least it had space to factor in income from a second job.
 
2014-04-23 08:50:45 AM

SpectroBoy: [cdn-www.i-am-bored.com image 700x876]

But worst of all, he makes some seriously shiatty pizza. And THAT I can not forgive.


but better ingredients make better pizzas!  You mean the guy slapping the pizza together has something to do with its flavor, too?  Preposterous!
 
2014-04-23 09:01:43 AM

some_beer_drinker: 12349876: Lokkii: Cheer up fast food workers. As usual, upwards pressure on wages will accelerate the drive towards mechanization and automation. In 20 years fast food worker wages won't be a problem any more since there will only be a dozen or so in the country.

Gas pump jockeys were first, right now it's grocery store checkout clerks, and soon it will be burger flippers.

Good.  I'm all for a society where all the mindless drudgery is done by machines and a guaranteed basic income that can allow as many people as possible to focus on creative pursuits that will increase the number of artistic and technological breakthroughs.

[radicalunjobbing.files.wordpress.com image 452x433]
i concur.


I will concur as well with one caveat.  You be the one working and let me be one of the ten-thousand you support.  I will then agree to sit around and think happy thoughts and you can provide me with an nice comfy house, preferably near the sea.  Oh and cable, you really need to give me cable.
 
2014-04-23 09:08:39 AM

R5D4: Although I do support fast food workers earning more money, it should be noted that any amount they do earn does not effect the salaries of CEOs.

Worker's payroll comes from the owner/operators of the individual stores, which often operate on very thin margins.

The operators are paying royalties the corporation, (in significant percentages often on top of to contributing to national advertising funds).

The CEO is being paid by the corporation, which is basically sitting on top of the pyramid.


Your own statement proves that they are related.  If the corporation didn't demand such high royalties (your own words were "significant percentages", and partially to cover the CEO salary), the individual stores could afford to pay their workers more, and probably make more profit at the same time.
 
2014-04-23 09:11:45 AM
A machine can make a bigmac, keep crying and soon enough your entry level job will be nonexistent.
 
2014-04-23 09:12:59 AM

midigod: R5D4: Although I do support fast food workers earning more money, it should be noted that any amount they do earn does not effect the salaries of CEOs.

Worker's payroll comes from the owner/operators of the individual stores, which often operate on very thin margins.

The operators are paying royalties the corporation, (in significant percentages often on top of to contributing to national advertising funds).

The CEO is being paid by the corporation, which is basically sitting on top of the pyramid.

Your own statement proves that they are related.  If the corporation didn't demand such high royalties (your own words were "significant percentages", and partially to cover the CEO salary), the individual stores could afford to pay their workers more, and probably make more profit at the same time.


If you remove the CEOs pay from all of the franchise fees, the avg bump in pay if that money was given to the employee would be around $150 a year.  A number  greater than zero I will give you that but at the end of the day it would account for about 1% of their wages.
 
2014-04-23 09:14:22 AM

austin_millbarge: fusillade762: [37.media.tumblr.com image 500x625]

That guy has a very punchable face. And I haven't eaten a single one of his shiat pizzas since he took that stance.


It didn't seem to affect his bank account any..
 
2014-04-23 09:15:25 AM

Gentoolive: A machine can make a bigmac, keep crying and soon enough your entry level job will be nonexistent.


Then when we are at 30% unemployment and people are stealing everything that isn't bolted down then what?  Be like China and build cities for the hell of it then just let them sit around rotting?
 
2014-04-23 09:16:14 AM

teenage mutant ninja rapist: Time to tax all executive bonuses at 95%


Worked out well for the French..

Do you people understand business at all, or just autorage against anyone that makes more than you?
 
2014-04-23 09:17:25 AM

kling_klang_bed: "But, but, but......... if we pay them more, we'll have to raise prices!"

That's the first answer you'd hear from these CEO's.


Welcome to the free market.

You guys really are lemmings..
 
2014-04-23 09:19:59 AM

GoldSpider: What's with all the eat-the-rich circle-jerk threads today?


You haven't been paying attention to politics and the economy for the last thirty-five years, have you?
 
2014-04-23 09:22:18 AM

SpectroBoy: [cdn-www.i-am-bored.com image 700x876]

But worst of all, he makes some seriously shiatty pizza. And THAT I can not forgive.


He actually owns 3 mansions around the country.

You start a billion dollar business out of your home and employy tens of thousands of people all over the world and you to can live in a mansion.


He's not some fat cat wallstreeter, or CEO who got his job/$$ via conenctions or was in the born lucky club. He was a guy like you or I who made a businees.

I think everyone should live like that. You think no one should.
 
2014-04-23 09:22:28 AM

Mr. Oizo: If flipping burgers were simply a punch-the-clock job for live-at-home teens who eventually go on to long-term careers in other industries, I wouldn't have a problem with this.

For far too many people, however flipping burgers has become their career.  You can't expect someone to raise a family on minimum wage.


Perhaps they shouldn't be spitting out crotch fruit while working for minimum wage.

Lemmings, all of ya.
 
2014-04-23 09:25:12 AM
Choices in life.... how do they work?

/jealousy is a biatch
 
2014-04-23 09:25:25 AM

Saiga410: If you remove the CEOs pay from all of the franchise fees, the avg bump in pay if that money was given to the employee would be around $150 a year. A number greater than zero I will give you that but at the end of the day it would account for about 1% of their wages.


Well, at least you gave me something.  That's more than I can say for most people.  And so I tip my hat to you, sir.
 
2014-04-23 09:29:04 AM

Danger Mouse: SpectroBoy: [cdn-www.i-am-bored.com image 700x876]

But worst of all, he makes some seriously shiatty pizza. And THAT I can not forgive.

He actually owns 3 mansions around the country.

You start a billion dollar business out of your home and employy tens of thousands of people all over the world and you to can live in a mansion.


You can also afford to insure your employees.
 
2014-04-23 09:38:55 AM
Given that the minimum wage has gone up since 2000, there is zero chance that the pay of workers has declined.

Also, hourly workers don't have salaries.
 
2014-04-23 09:39:27 AM

Gentoolive: kling_klang_bed: "But, but, but......... if we pay them more, we'll have to raise prices!"

That's the first answer you'd hear from these CEO's.

Welcome to the free market.

You guys really are lemmings..


Hey guys look, a free independent thinker showed up to shame us for blindly following conformist attitudes, that are...against the status quo?
 
2014-04-23 09:39:47 AM

dmoynihan: Umm, low-skill workers can only demand so much these days before automation happens. Reducing regulations, so that one doesn't need to be a chain to handle the insane amounts of paperwork it often takes to open up a freaking pizza place would help a lot more when it comes to bringing down CEO pay (and increasing wages).[b-i.forbesimg.com image 850x566]


Offer us some examples of regulations you'd get rid of.  There are bound to be some regulations that legitimately need to go; but when the Plutocrat Party spews about deregulation, it always seems to be about getting rid of regulations against ripping off customers, putting employees at risk of life and limb or dumping poison into the air and water.

I doubt even Rush Limbaugh would have us entirely abolish chapter 47 of the Code of Federal Regulations.  That's the one that says, among other things, that I can't run a jammer on the frequency where Rush is shooting off his mouth.
 
2014-04-23 09:40:07 AM

austin_millbarge: fusillade762: [37.media.tumblr.com image 500x625]

That guy has a very punchable face. And I haven't eaten a single one of his shiat pizzas since he took that stance. 2002.

 
2014-04-23 09:41:38 AM

Frederick: Pocket Ninja: Um, subby? If they didn't lower workers' salaries, how would the companies be able to quadruple the salary of their CEO? Jesus, try thinking every now and then.

Well, they could add non-food stuffs to the food to lower costs.

/mmmm, yoga mats


Why are they putting bread chemicals in yoga mats?
 
2014-04-23 09:41:39 AM

TNel: Gentoolive: A machine can make a bigmac, keep crying and soon enough your entry level job will be nonexistent.

Then when we are at 30% unemployment and people are stealing everything that isn't bolted down then what?  Be like China and build cities for the hell of it then just let them sit around rotting?


Perhaps they can go make 6 figures in the oil fields.

Oh, fartbongo's still preventing that.. Never mind, I guess they farking die.
 
2014-04-23 09:42:33 AM

fusillade762: [37.media.tumblr.com image 500x625]


Amusing, because it demonstrates you have no idea what trickle down economics is.
 
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