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Meanwhile, In n Out serves a better burger, for less money, paying their workers $19+/hr.
Yes, buuut in-n-out is also crazy religious so don't put them on too high a pedestal
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"My preferred megacorp is superior to your preferred megacorp!"
This is what being addicted to ever-growing profit looks like. They could still make mountains of profit with the new minimum wage, but they can't make as much profit as they did before.
If they aren't increasing their profits every year endlessly, they'll have to stop using that one clipart of the arrow line going up on a graph in their presentations.
They sacked the guy that knew how to change the image years ago and they're in too deep now to stop
Wall Street is cancer.
Or, you know, make as much profit by the executives taking a pay cut.
McDonald's has 200,000 employees, and another 2 million that work for McDonald's franchises. Thats 2,200,000 for every 100 million you took from the executives, you could give every employee a $45 bonus.
And if they took the money they use in stock buybacks and used that for salary, what would it be?
Stock buybacks used to be illegal market manipulation.
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The prices were always gonna be raised, the wage increase is just an easy excuse, if the wage increase is reversed the prices will 100% still be raised and will almost definitely stay there.
Exactly. Corporations love to blame labor.
Its not just labor they like to blame. I remember my local McDonald's raised prices by around 10 cents across the board without giving a reason even though they had gotten a tax cut that year, next year the tax was raised to its previous value and they raised prices again, this time citing the "tax increase". Corps will ALWAYS find a way to raise prices and blame it on something other than greed.
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Fox business coming through with a piece to say "we told you so" and "higher wages just mean higher prices."
Fuck Fox.
Fuck fox
They would have anyway. Prices don't stay the same and they certainly don't go down.
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This is a misleading title.
They hike the menu price to make more money using the minimum wage as an excuse.
Let them price themselves out of business then. Someone will come along and make an affordable burger.
"The free market will fix it" seldom works, which is why it's still pushed as a solution.
Could this hypothetical someone make a more affordable burger ethically, or would they also have to fuck over their employees and suppliers?
Usually, the answer is "no". Businesses either use all the same sleazy, "race to the bottom" techniques or they go out of business because they offered a more expensive product to people without the luxury of being able to spend more.
But of course if you start paying people more, the billionaires will just fuck them out of that too. They want every dollar you have and they know people will spend every dollar they have to avoid being homeless or hungry.
Large Fast Food Chains: We made record profits, again!
Also Large Fast Food Chains: Wait! If we are required to actually pay our staff, how will I, Mr. CEO the Douchebag, afford my 16th yacht? How will I be able to send my children to the finest schools in the world? How will I be able to afford to eat if my workers aren't suffering? Won't anyone think of the 1% and our problems?
Like they haven't raised prices 4 times already this year.
I wonder if this will cause the Big Mac to shrink any more than it already has.
It'll just be a mist now. One squirt for $4.89.
Told you Libruls! The Big Mac was still $0.99 before this law was signed because companies NEVER raise prices unless they have to raise wages!
It literally doesn't matter, fox. If it's so bad, why hasn't McD's up and left the state? Why haven't people stopped buying it? All the blather in the world isn't bringing California down so go eat shit.
The GOP will just blame it on Biden and all Trump’s cult followers will believe it.
They should also have to pay employment taxes on the automated ordering machines.
This is a great idea. Yes, automate things, but provide for the workers accordingly.
My wife and i joke about when we will have mcdonalds money now. Just nuts what a FF joint will charge for the simplest food.
I didn't understand why anybody enjoyed McDonald's 20 years ago and I don't understand it now.
It's absolute garbage food. And now it's way overpriced garbage food
And people will keep buying. Complain all y'all want, but as long as people keep spending the prices will keep going up. Always.
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Watch people wait in line to buy a $5 dollar hash brown. Meanwhile, In and Out still good value if you have a non-ridiculously-busy location near you.
Not an invitation to hear why you like a $18 burger better because the peanuts are free. Get real, I'm not an elephant.
They had $3.5 billion in cash at the end of the last quarter and reported net income of over $2.3 billion.
They're just assholes.
This is the free market don't you know? You could start your own business and undercut them on price.
/s
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this post was submitted on 05 Nov 2023
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Antiwork
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