Fast-food workers strike

[PopPhan]

For those of you advocating the CEO's giving up some of their $ to the workers, here's one crude calculation.

(According to Forbes) Robert Iger makes $40M a year. There are 150,000 employees. Let's say he gives back half (how many of you would give up half your salary to help others in your company?) That comes to less than $0.07 an hour per employee. Now, we can debate if Iger is worth his salary in another thread, but I think it's more important to compensate a good CEO than give all your employee's a 7 cent raise.

That's a nice analogy, but it would not just be Iger giving back part of his salary, it would be ALL above a certain managerial level -- say, for example, all at VP level or above.

BUT, what the real concern is, to me, is how do we justify a top level management position paying 2000 times what 'line level' employees earn?

Do I agree with these fast food employees 'striking' for double wages and a union? No, not in the least, but I do believe that an increase to $9 - $10 per hour would probably be fair.

I do not believe that a union, for this type of position, would be in their best interest. These are not 'slave labor' jobs, but rather 'transient' jobs -- move from one outfit to another, for about the same pay and benefits.

JM2CW

[MNNHFLTX]

For those of you advocating the CEO's giving up some of their $ to the workers, here's one crude calculation.

(According to Forbes) Robert Iger makes $40M a year. There are 150,000 employees. Let's say he gives back half (how many of you would give up half your salary to help others in your company?) That comes to less than $0.07 an hour per employee. Now, we can debate if Iger is worth his salary in another thread, but I think it's more important to compensate a good CEO than give all your employee's a 7 cent raise.

Personally, I'd like to see more CEO's or former CEO's use some of their multi-millions/billions for the greater good, like Warren Buffet or Bill Gates. But that's fodder for another thread.

[Arielfan98]

Because of the recent posts I would like to change my words. I never meant to say college was easy to afford and I apologize if I offended anyone. My sister requires many loans to get her through college but it seems like no matter what happens we are always able to pull through and afford a Disney vacation once a year I am very lucky and am doing the best I can to earn scholarships. However, I do live in the highest taxed county in America and my parents work hard for their money. We are middle-class (not wealthy) yet it seems my parents are always able to pull through with me and my sister's education. I am very fortunate but what I was trying to say was that I don't think fast-food workers should have a salary double the minimum wage. As others have said it would cost close to $10 for a burger. I think a better solution is to find a better job and perhaps workers should strike for better paying wages for waitressing like in Europe where they get paid well enough that tips would not be necessary.

[Scar]

That's a nice analogy, but it would not just be Iger giving back part of his salary, it would be ALL above a certain managerial level -- say, for example, all at VP level or above.

But that's just unrealistic. There will always be some other company willing to lure high level employees away. And most (probably almost all) would leave for the money.

[Scar]

Personally, I'd like to see more CEO's or former CEO's use some of their multi-millions/billions for the greater good, like Warren Buffet or Bill Gates. But that's fodder for another thread.

And many probably do. We just don't hear about it. I know my old boss used to donate a lot to charity (I kept the books.) Most people wish to remain anonymous when being charitable.

[DisneyDINK]

For those of you advocating the CEO's giving up some of their $ to the workers, here's one crude calculation.

(According to Forbes) Robert Iger makes $40M a year. There are 150,000 employees. Let's say he gives back half (how many of you would give up half your salary to help others in your company?) That comes to less than $0.07 an hour per employee. Now, we can debate if Iger is worth his salary in another thread, but I think it's more important to compensate a good CEO than give all your employee's a 7 cent raise.

I defimately see your point, but there are more "questionably" overpaid executives out there besides Iger. There are many levels of management who make excellent salaries. Maybe the $0.07 could look more like $0.50 or a dollar. I'm a shareholder. Maybe reduce my income by lowering the $0.75 dividend per share to $0.70. You add all of that up and maybe you start to put a dent in the problem.

Take half Iger's salary and he's still very very rich. How will he live making only $20MM? Just fine. Take half the salary of someone making $200,000, $100,000 - yeah they'll have a lot of tough choices to make, but they'll be OK. Take someone making $30,000/yr and reduce it by half and you have $15,000/yr - the minimum wage. Think of the choices they have to make.

Scar - I really don't disagree with you, I'm just making the counter argument. More than anything I think of this in a exercise in compassion. I make a good income and I love having money, but I don't want to live in a place where I forget about the people at the bottom.

[NJGIRL]

Sorry but I believe everyone in this country has the same chance to make millions of dollars. Look at some of the millionaires out there. They started with nothing and worked hard. IMO the problem with people now is that they don't want to work hard and save for things. They want it now...and have things regardless if they can afford it or not.

Minium wage jobs are unskilled jobs. If you start raising the wage for unskilled workers then what about your skilled workers who were making $15 an hour. Either you will have to raise their wages also or you will create a country with people who have no incentive to work hard to have the kind of life style they want.

I agree with the person who said this can't fully be discussed without bringing politics into it.

I can't tell you how many people I see with $300 sneakers, Smart phones, and their nails done (all of which I cant afford and I my husband and I make decent money)who are in line at the grocery store with food stamps.

I am not cold to the hard working people out there struggling to make a living, but giving min wage a huge jump without people bettering themselves will have a snowball effect again on the middle class.

[MNNHFLTX]

And many probably do. We just don't hear about it. I know my old boss used to donate a lot to charity (I kept the books.) Most people wish to remain anonymous when being charitable.

I hope you're right, Jeff, but I have my doubts. My husband's work has him mingling in the corporate world of Big Oil (but in middle-management, not a CEO) and the big-whigs that he comes across are pretty conspicuous spenders. I highly doubt they part with much of their money.

Of course, you don't have to be a millionaire to be charitable. What's the saying? That "charity starts at home".

[MNNHFLTX]

I can't tell you how many people I see with $300 sneakers, Smart phones, and their nails done (all of which I cant afford and I my husband and I make decent money)who are in line at the grocery store with food stamps.

I am not cold to the hard working people out there struggling to make a living, but giving min wage a huge jump without people bettering themselves will have a snowball effect again on the middle class.

I agree, Rita. And doubling minimum wage wouldn't solve the problem, just create more problems. That was kind of what I was referring to in one of my posts--that in a perfect world everyone would have the opportunity to better their education and livelihood and everyone would want to better their education and livelihood. Sadly, that is not true. And I do feel like people have choices early on in life; if they do not apply themselves, if they do not make smart decisions, if they do not care, I do not feel that they should be compensated the same as those that do. But how to deal with those who have tried and are trying but can't seem to catch a break? That's the question.

I also believe that many people have forgotten the importance of being frugal and living within their means. My husband and I make a decent living too, but at the grocery store I swear I am the only one there using coupons. Back when money was tight I just got used to trying to save as much as possible, and I'm certainly not going to stop now. We are probably the only people on the planet that don't have a huge flat-screen TV. Every time we talk about getting one, we always come back to--the one we have works fine, so let's wait a while. Weighs a ton, but works fine.

[NJGIRL]

I also believe that many people have forgotten the importance of being frugal and living within their means. My husband and I make a decent living too, but at the grocery store I swear I am the only one there using coupons.

We are probably the only people on the planet that don't have a huge flat-screen TV. Every time we talk about getting one, we always come back to--the one we have works fine, so let's wait a while. Weighs a ton, but works fine.

Haha....I used coupons too, shop at Walmart and NEVER see anyone else with coupons there.


Flat-screen....make that two of us. We don't have one either. lol

When I was growing up my father worked 3 jobs. During the week, one during the day and one at night and on the weekends the third. His family didn't have a lot of money and he didn't go to college, BUT while working three jobs he took at home college courses and got his two year degree. He pursued licenses in his field that only two other people in the state had. I guess my point is, that if you want it bad enough you can do it.

College isn't the only way to go either. Working in the trades you can make a good living and the military is another way to go.

I just think if you are in a dead end job, then it is your responsibility to change that, no one elses.

[Lindsey]

I also believe that many people have forgotten the importance of being frugal and living within their means.

I agree with this 100%. My husband and I purposely live below our means. We like to have a lot of money saved, both for emergencies and for our retirement. Currently we have enough saved, (in our regular savings, not our retirement savings), that if my husband were to be out of work for 3 years we could continue to live our lives as we do now without worry, but we could manage even longer if we cut spending. My husband and I both grew up in poor families, so we are careful with our money.

College isn't the only way to go either. Working in the trades you can make a good living and the military is another way to go.

I'm in agreement with this too. My husband managed to go to collage, (he is super smart and got a full scholarship), but I didn't. At first I regretted not attempting collage, but it turns out that I didn't really need to go. I opened my own business and I have been very successful. I make a good living and collage was not required.

There are people in this country who sadly were not brought up with a good work ethic, or with any advice on how to save money, or with even a general idea of how to improve their lives. I witness this with my sister's ex-husband. The man is incredibly lazy, even his kids know it. They see how hard their mother works, their aunts and uncles, and then they see their father. It's sad, but I'm glad that they can see the difference. Hopefully that will keep them from being like him when they are adults.

Of course there are other examples of people who have experienced real suffering in their lives, and that does affect their employment. But that is not the case for the majority of people.

[Hammer]

My husband and I make a decent living too, but at the grocery store I swear I am the only one there using coupons. Back when money was tight I just got used to trying to save as much as possible, and I'm certainly not going to stop now. We are probably the only people on the planet that don't have a huge flat-screen TV. Every time we talk about getting one, we always come back to--the one we have works fine, so let's wait a while. Weighs a ton, but works fine.

Haha....I used coupons too, shop at Walmart and NEVER see anyone else with coupons there.

Flat-screen....make that two of us. We don't have one either. lol

Another coupon user here! While I do see a few people at Shoprite or Wegmans with coupon, most do not.

I do have a flat screen TV, but it is hardly the latest model and is not super fancy. When I was putting together my Mom's room in my house, I apologized to her as she has an old 19 inch box TV in her room. She said do not waste money on a fancy TV that is used only 3-4 weeks out of the year and her shows look just fine !

College isn't the only way to go either. Working in the trades you can make a good living and the military is another way to go.

I agree. Military service is great career path. Even if you only do one term (I think it is 2 or 4 years) That's money which can be used to go to college or skills training. While one of Dad's best friends did go to college, he made the Marines his career and retired a Colonel.

I also believe that many people have forgotten
the importance of being frugal and living within their means.

I agree wholeheartedly with this statement. And it is not just people who use food stamps and then buy expensive things. It is present iatall economic levels. There are so many people who care so much about having the right car, living in the right neighborhood, that their kids look and dress a certain way, etc, that they don't take care of basic things like paying the mortgage or saving for retirement!