All these corporations are closing stores in 2013 due to lack of profits: Keep in mind this was published BEFORE Obama announced the min wage increase. Best Buy: 200-250 stores KMart: 175-225 stores Sears: 100-125 stores JCPenney: 300-350 stores Office Depot: 100-125 stores Barnes & Noble: 190-240 stores Gamestop: 500-600 stores OfficeMax: 150-175 stores RadioShack: 450-550 stores Over 2100 stores minimum are projected to close. How many jobs is that? Our economy is FUCKED. Eight Retailers That Will Close the Most Stores - Yahoo! Finance
THANK GOD their CEOs are still getting paid millions. We wouldn't want to hold them responsible for their failing businesses, and the people they employ. Best Buy Sears (which includes KMart) J.C. Penney The CEO of Office Depot Earned over $6.9 million in 2011 Neil Austrian: Executive Profile & Biography - Businessweek Barnes & Noble CEO GameStop The CEO of OfficeMax earned over $12 million in 2011 RadioShack
I'd like to see ANYONE be a CEO of a company with hundreds/thousands of locations and not make millions. Best Buy total stores: 1,056; CEO average pay per store: $1,112.68/year Sears/KMart total stores: 2,118; CEO average pay per store: $4,674.22/year JCPenney total stores: 1,100; CEO average pay per store: $48,454.54/year OfficeDepot total stores: 1,114; CEO average pay per store: $6,193.89/year Barnes&Noble total stores: 689; CEO average pay per store: $14,513.78/year GameStop total stores: 4,471; CEO average pay per store: $230.37/year OfficeMax total stores: 872; CEO average pay per store: $13,761.46/year RadioShack total stores: 4,412; CEO average pay per store: $1,337.26/year Nice job trying to paint them in a bad light. Do you own 1 business location? Or work for 1 business location? I bet you make more than that ^.
Not only that but even if all of their salaries were zero, it wouldn't even come close to the amount of money necessary to keep all of those stores open.
Although I'm not a fan of Obama, I do support his decision to raise the minimum wage. Not surprised my American neighbours are against it lol.
there was no decision to raise the min wage... i doubt it'll actually happen. walmart needs to lobby harder next time..
going to dinner.. will reply when i get back for sure. (it's really funny... the adults sit upstairs and hide smoking weed from the kids, and the kids do the same downstairs.. funny shit every time i go to these peoples house for dinner) short answer is no.. but not because i want poor people to remain poor.
The point isn't that they are making a lot of money. The point is that they are giving themselves raises worth millions of dollars, while they close stores, fire employees, and blame it on "rising costs". And tax payers end up footing the bill. If one of their minimum wage employees, comes up short on their cash register once or twice - they would be fired for not doing their job. But when the CEO runs the business into the ground? Give him a raise! They sure are lucky to have people like you in their corner.
If anyone looks at the countries with the highest quality of living, the main trend is that they have a relatively high minimum wage compared to the rest of the world.
So are you saying costs are not rising? Inflation doesn't exist? If a min wage employee comes up short on the register, EVERYONE loses money. If the company as a whole loses money, that will have to come out of everyone's paycheck, or they fire the guy. Which would you choose? Thousands of employees being pissed that you cut their check, or pissing off 1 dude by firing him? If the CEO wants to run his business into the ground, that's his/stockholder's choice. The corporation is not community property. This is capitalism, not communism.
5 dollars an hour is better than 0 dollars an hour. At least at $5, or even $1 you have the chance to gain experience which seems to be priceless in todays times. We have a family run business and I have to turn people down daily (at least one per day) trying to apply for a job, simply because business isnt all that boomin and hasnt been for a while now and theres no way I can increase pricing with who im already competeing with. I would like to give someone a shot in this shitty economy but we haven't been expanding enough to hire. Lots of customers end up closing shop as well thus adding more to the loss. If it were to go up to $9.00 an hour, it would be a definite no compared to the thought of taking a risk with it. We would rather deal with what we have now. We only have about less than 20 employees.
Good for people who didn't do shit and work at minimum wage now. Sucks ass for anyone over that.. I get payed more than 9 an hour and I promise you it's not going to go up but you know what will the cost of everything.. So looks like I just got demoted and started making LESS money than before
when did they give themselves these multi million dollar raises that you're talking about? also just because a retailer is closing a retail location doesn't necessarily mean that they are running the business into the ground. people buy things on the retailers websites and ebay and amazon etc.. so the need for retail outlets isn't what it once was.
no. first off i don't think it should be illegal if J-DILLA was in need of a job and wanted to prove himself to an employer for $5.00 per hour to get his foot in a door that he might not be able to because of education or lack of experience etc. also it gives huge companies the upper hand over their small business competition.. again i keep bringing up walmart lobbying to raise the minimum wage. do we think that walmart is doing this because they want their employees to make more money per hour? If so, then why not just give them all raises? they do it because they can afford to, where your local pizza guy can't. min wage jobs are for high school and college students.. so it's great that they are getting a nice raise, but the actual poor person who raises a family on $12.00/hour is getting fucked. minimum wage increases do not help poor families.. because most poor folks who are supporting families make more than min wage anyway...