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this post was submitted on 05 Nov 2023
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Antiwork
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A community for those who want to end work, are curious about ending work, want to get the most out of a work-free life, want more information on anti-work ideas and want personal help with their own jobs/work-related struggles.
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Date Created: June 21, 2023
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The Anti-Work Library 📚
Essential Reads
Start here! These are probably the most talked-about essays on the topic.
- The Abolition of Work by Bob Black (1985) | listen
- On the Phenomenon of Bullshit Jobs by David Graeber (2013) | listen
- In Praise of Idleness by Bertrand Russell (1932) | listen
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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.
Fired, they would all be fired. If you dissolve a company, there is no more company. For every billion dollars, you are talking about 450 bucks. Per person. While there is certainly a lot of bloat, it would knew cap them to get rid of management. It would any company. I'm not saying there is no need for reform and change, but in lots of companies even local management gets stock options.
Ummm, no. Stock buyback has nothing to do with dissolving the company, but increasing shareholder value.
So far in 2023, McDondald's has spent just a bit over 2B on stock buybacks to "increase their shareholder's value". According to the wiki, they have 200,000 employees.
That's a $10,000 bonus/employee assuming equal distribution.
They have 200,000 actually employed by m Mc Donald's and another 2,000,000 employed by McDonald's franchises genius. Guess which ones are the workers most people see everyday.
And when they dissolve those options for a one time 10,000 dollar benefit, then what? You got exactly what your payout would be, as a single mom, with 2 kids in income tax, for one year, so what after that? You sound like a 15 year old kid that is terrified at getting their first job to help your parents pay for their phone, car, and insurance on said first car. There are 50 jobs that you would never need to worry about this in. Maybe you wouldnt need to worry about any of that nonsense. Maybe you can't be an alternative artist that " arts" for 12 hours a week, but you can still make a livable wage off a trade, or a little higher learning.
You really don't understand what you're talking about. Maybe you should actually read the link, do some research and apply some thought before you get offended for the poor corporation.
If you pulled your head from your fourth point of contact, you'd understand what a buyback is. Then you might do further research and notice that over the last four years, McDonald's, on average, spends 3b/year on buybacks rather than spend the money on paying a decent wage for their employees.
Or, you can keep making shit up to fit your bullshit world view of "corporations great, every who works is just greedy".
Pretty sure I already know the way you'll go. I've given you a start for things to look at, it's the best I can do for the youth of today.
3,000,000,000÷ 2,200,000 = 1,363 dollars or 163 dollars a month. Thats still not a decent wage. I think you think I'm on McDonald's side. I'm not, but I also don't think you understand, why it would still be necessary to raise prices on their food to pay a good bit higher wage.
You're right, I definitely don't understand.
$163/month, globally for all employees, does absolutely nothing for a person (and yeah, that's sarcasm, when I was working equivalent level jobs, about another $.80/hour after taxes would have been nice) and isn't an example of the company going for profits over employees. Besides, we're only talking about California getting the price increase right? I mean they're not going to look at raising prices everywhere. So... Let's look at the state.
According to the this website a Big Mac in California, on average is $5.89.
Average starting rate in California appears to be $16-18/hour for crew members according to generic "mcdonalds hiring search followed by a city name... So, we'll call it $17/hour to start? Makes sense that they'd need to raise the prices.
Not a big fan of McDonald's, I wonder how that's going to affect me at the equivalent fast food place in the same state that I like: In-n-Out.
According to this site there was already a price hike in 2023 on the cost of the double-double by 24%, guess it's only going to get worse. $4.90 for that Big-Mac equivalent of a double-double. Huh, this is going to suck.
Starting pay at In-n-Out for a crew member is, let me see... The In-n-Out employment page shows the starting pay for crew members is $19.75/hr at any store I select.
So, two chains in the same state selling, pretty much the same product, doing the same work with an average pay differential of $2.75/hour.
You're absolutely right, McD's really does need to bump the price.
A double double is not the same as a big mac, a double cheeseburger is probably closer and its 2.97 in California. And probably 10 cents more to add lettuce. It is true that the dd is a bit bigger but not twice as much, and not as big as the double qpc. Mcdonalds is trash anyway.
Really, let's see... If I remember the commercial correctly:
Big Mac:
Two all beef patties
Special Sauce (1000 Island dressing)
Lettuce
Cheese
Pickles
Onions
on a sesame seed bun
Double Double:
Two beef patties
1000 Island dressing (special sauce)
Lettuce
Cheese
Onions (raw by default, grilled on request)
Toasted Bun
You're absolutely correct. The difference between the two is staggering. I didn't realize sesame seeds and the extra piece of bun they stick in the middle of a Big Mac costs that much more.
Pickles, well, you can say "double-double with pickles" and they'll put them on at no extra cost. I suggest not making the mistake of saying "extra pickles" vs. "add pickles". They take it as a challenge.
I wonder the shipping cost of tens of thousands of McDonald's vs the less than 400 in-n-outs?
Stock buybacks used to be illegal market manipulation.