Posts tagged: the new robber barons
hey look the ‘job creators’ are still getting ALL OF THE MONEY, literally ten times as much of an increase in their income as their line workers
suck it up working poor or even just working regular people
all of you don’t get a raise so romney can have nine of them
Dec. 10 2013
The chief executives of McDonald’s and Starbucks earn more than $9,200 an hour, which is at least 1,000 times the hourly wages of their sales associates, according to a new report by the personal finance website NerdWallet.
The report highlights fast food and retail companies with some of the biggest gaps between CEO pay and hourly wages paid to associates.
McDonald’s, Starbucks and Dollar General top the list, followed by Gap, TJ Maxx, Target, Wal-Mart, CVS Caremark, Best Buy and AT&T Wireless.
Out of those 10 companies, median CEO pay on an hourly basis was calculated as $7,334, compared to $8.73 for sales associates. NerdWallet reviewed 100 companies for the report and selected the 10 that had the highest annual CEO pay to compare the disparities.
CEO pay was calculated by dividing each chief executive’s total compensation (as reported in the company’s annual proxy statement) by 60 hours a week times 50 weeks per year. Sales associates’ wage information was obtained from Glassdoor.com.
The NerdWallet study comes as employees of fast food and retail chains have been staging a series of demonstrations and strikes demanding better pay.
pretty sure none of these companies are giving line employees sixty hours a week, which means this is actually lowballing it
The claim that a company like McDonald’s can’t afford to pay wages over the minimum is absolutely insulting when you compare the salary of its CEO to one of its crew members.
I worked at a McDonald’s in New York over the summer and did a little math while I was there. In 2011, former McDonald’s CEO James Skinner made $8.75 million with compensation, according to data compiled by Bloomberg. In comparison, crew members made $7.25 an hour, for about $15,000 a year, if they stayed at the job year-round.
If you take Skinner’s total salary in 2011 and assume that he worked 40-hour week, he would have made $4,200 an hour. In one hour, he made 580 times more than the average McDonald’s worker. James Skinner made $33,600 a day, which is twice the salary tht a McDonald’s crew member makes in a year of full-time work.
Looking at it another way, the average worker would have to work for almost 600 years to make the salary that Skinner made in 2011. In one year, Skinner makes more than I could make in at least six lifetimes.
- $3.98 for natural disaster relief through FEMA
- $6.96 for welfare
- $22.88 for unemployment
- $36.82 for food stamps through SNAP
- $43.78 for retirement/disability for government workers (civilian/military)
- $235.81 for YOUR Medicare
- $247.75 for defense
- and $6,000.00 for corporate subsidies
the wool over our eyes - priceless
OUR Walmart announces 1,500 Black Friday protests across the country
November 27, 2013
Walmart workers and community allies today announced plans leading up to and on Black Friday, saying 1500 protests are scheduled for across the country, in what is set to be one of the largest mobilizations of working families in American history. Workers are calling for an end to illegal retaliation, and for Walmart to publicly commit to improving labor standards, such as providing workers with more full time work and $25,000 a year. As the country’s largest retailer and employer, Walmart makes more than $17 billion in profits, with the wealth of the Walton family totaling over $144.7 billion – equal to that of 42% of Americans.
“Black Friday 2013 will mark a turning point in American history,” said Dorian Warren, associate professor at Columbia University. “Fifteen hundred protests against Walmart is unprecedented. Working families are fighting back like never before – and have the support of America behind them.
Emboldened by news from Walmart CEO Bill Simon that as many as 825,000 workers are paid less than $25,000 a year, workers and supporters are calling for better jobs nationwide. Major protests are planned in more than a dozen metropolitan cities, including Los Angeles, Chicago, Bay Area, Seattle, Sacramento, Miami, Minneapolis and Washington, DC.
The announcement follows revelations this week that many Walmart workers don’t have enough money to cover Thanksgiving dinner for their families. A photo from a Canton, Ohio store set the internet abuzz Monday, with workers,customers and commentators pointing to a food drive set up for Walmart’s own employees as proof that the retailer pays its workers poverty wages.
“Walmart’s right that associates do stick together and look out for each other. We have to because Walmart and the Waltons seem to be fine with the financial struggles that we’re all facing,” said Barbara Gertz, a five-year Walmart employee from Colorado. “We’re are all in the same situation, one that Walmart creates by paying us poverty wages that aren’t enough to cover holiday meals. We don’t want handouts; we want an employer that pays us enough to afford Thanksgiving dinner – and dinner every night of the year.”
Workers and community supporters have been inspired by actions across the country in recent weeks. In Los Angeles, workers went on a two-day strike that culminated in the largest-ever act of civil disobedience against Walmart, and last week, workers in Seattle, Chicago, Ohio and Dallas joined them in walking off their jobs.
The strikes, which call for an end to illegal retaliation at Walmart, come as the federal labor board this week issued a decision to prosecute Walmart for widespread violations of its workers’ rights. The decision will provide additional protection for Walmart’s 1.3 million employees when they are speaking out for better jobs. The Board will prosecute Walmart’s illegal firings and disciplinary actions involving more than 117 workers, including those who went on strike last June.
With the Labor Relations Board moves forward to seek a settlement that could include the reinstatement of fired workers, a group of Walmart employees who were illegally retaliated against are traveling to Bentonville, Arkansas to call on Walmart CEO Bill Simon to reinstate them immediately. Early Fridaymorning, November 22, the fired workers will visit Home Office to urge Walmart to live up to the anti-retaliation policy it professes to follow.
“I’m traveling to Bentonville with other workers who were wrongfully fired because Walmart needs to hear from us directly: we want our jobs back, and we want you to put the anti-retaliation policy you talk about into practice,” said Jeanna Slate, a fired striker, mother and grandmother from rural Texas who is traveling to Bentonville. “Walmart makes $17 billion dollars in profits while the majority of its workers make less than $25,000 a year. Walmart can do better.”
Walmart workers have escalated their online organizing and community outreach ahead of Black Friday 2013, allowing customers and community members to join the fight for $25,000 and an end to illegal retaliation. Chicago worker Charmaine Givens-Thomas launched an online petition asking President Obama to meet with Walmart workers, which currently has more than 100,000 signers; individuals can sponsor a Walmart striker online; and a new online portal,www.associatevoices.com, allows associates to step forward and request Black Friday protests at their stores. Just weeks since the launch, the number of cities that have requested a Black Friday rally is well ahead of the number at this point in 2012.
The [UK] government is not doing enough to get student loans repaid as the total value of money owed continues to rise, a spending watchdog has warned.
The outstanding loan debt is £46bn and will rise to £200bn in the next 30 years, the National Audit Office said.
About 50% of students are not expected to earn enough to repay all their loan.
The NAO report also highlights concerns over the more than £5bn owed by about 368,000 former students whose exact whereabouts are unaccounted for.
It says officials are overestimating how much money will be recovered each year, and is not securing value for money for tax payers.
The increase in tuition fees in England has meant much higher levels of student loans and debts - and the spending watchdog says there needs to be much tighter scrutiny of levels of repayment.
Such an expansion requires a “much more robust strategy” for recovering loans, said Margaret Hodge, chair of the Commons Public Accounts Committee.
"It is essential that government collects every pound it can of the debt that should be collected," she said.
never forget that when confronted with an education crisis where tuition costs are skyrocketing out of control and unimaginable numbers of students face graduating into an economy that simply will not give them all good jobs, the response from the establishment is to tighten their belts and give out less student loans, and to send as many people as possible into collections
and not do anything at all about the actual problem, which is not ‘students aren’t repaying money owed’ but ‘the system is fundamentally broken and there are no fucking jobs even though stock markets are at literal record highs’
are there no workhouses? are there no prisons? wrote charles dickens ONE HUNDRED AND SEVENTY YEARS AGO
"A person of good intelligence and sensitivity cannot exist in this society very long without having some anger about the inequality - and it’s not just a bleeding-heart, knee-jerk, liberal kind of a thing - it is just a normal human reaction to a nonsensical set of values where we have cinnamon flavored dental floss and there are people sleeping in the street" ~ George Carlin
this quote is perfect
is there possibly a more perfect illustration of how republican politics actually work than bush opening on a tax cut and closing on a massive stimulus program that obama continued and thus gets blamed for
huh i wonder where all that money went
Yeah sorry no, not going to shame people who are trying to get things on the one day it would be possible for them to do so. I get that this is probably trying to be a critique of capitalism, but blaming people for this rather than the institutions that make it necessary for Black Friday to exist (like systems of poverty), doesn’t address the real problems, and just scapegoats those without the necessary means that makes boycotting an option. Especially this close to the holidays. Nah not about this.
Many of the people waiting in those lines are only able to afford those types of things (including toys, appliances, tools, technology) at those prices (some of them necessary — especially tools and appliances; tech’s getting pretty necessary nowadays, too). It’s the only way they can afford that new microwave or buy a toy for each of their children. I won’t shame people for being poor.
(Thanksgiving is a surprisingly expensive holiday, too. Why not spend the money they’d normally use on a turkey and all the fixings on things that will be used year-round? Why not be thankful year round?)
Yeah, im not gonna shame poor people who cant afford clothes and such except on Thanksgiving and Black Friday.
But if we stopped blaming and shaming people then we’d have to acknowledge how it’s impossible to acquire basic necessities like food, housing and clothing without being complicit in violence against marginalized people in the United States…
A mega corporation that exclusively sells food products gives these ‘tips’ to employees who are so underpaid that they can’t afford food.
Capitalism is violence.
romney’s advice column
Opponents of healthcare reform have, historically, argued that we should be wary of imitating foreign healthcare systems because people in other countries have to wait longer to see the doctor. Cheaper, more universal care, the argument seems to be, comes with the tradeoff of slower care.
This is not necessarily true, according to new numbers from the Commonwealth Fund, a nonpartisan organization that studies industrialized healthcare systems around the world.
The organization surveyed between 1,000 and 5,400 people in 11 industrialized nations. The first thing they found is fairly well-known: American healthcare is mind-bogglingly expensive, as compared to that of other Western democracies.
Read more. [Image: h.koppdelaney/flickr]
the people complaining about having to wait to see a doctor have always been romney anyways, their complaint was that they weren’t able to buy their way into an elite tier and automatically be at the front of every line, from scheduling appointments to organ transplant lists.
romney’s problem isn’t that he has to wait //longer// under single payer, it’s that he has to wait //at all//. just like everyone else does.
"A middle-class American family made less last year than in 1989, according to a new Census Bureau report. Meanwhile, Forbes magazine reported that the 400 wealthiest Americans doubled what they were worth a decade ago and “finally gained back all that they lost” in the 2008 economic collapse.”
yaaaay millenial alarmism
protip, kids everywhere aren’t buying into traditional family models for the same reason we’re not buying into real estate: BECAUSE WE LITERALLY CANNOT AFFORD IT.
all those other factors may well be playing into it, but not really. the high cost of living. that’s it. that’s the problem. //nobody has any fucking money//.
this again for the day crowd because it’s still pissing me off that white british lady is all “but what’s unique about the japanese that will allow me to blow off serious analysis of the structural roots of this issue that are common to //all first world countries// so that instead of holding romney’s generation accountable for poisoning the republic against the social safety net and stagnating real incomes versus cost of living and perverting business practices from stakeholder community capitalism to shareholder mercenary capitalism, i can just yell at ‘kids today’ and their fucking iphones and agency”
there are factors unique to every country that are leading along different paths to the same exact outcome, just as there were factors unique to every country that has universal healthcare that led them to the same end goal along different routes. ignoring that all of those roads are leading to the same uncertain future, ignoring the universal nature of this issue in favor of orientalist suppositions about how japan is maybe leading the pack because japan is more backwards that we english or whatever is not only racist but ignoring the real problem in favor of japan’s particular set of symptoms.
'young people were promised a good life by their parents that they literally cannot afford to buy into' is the root issue here and that has fuck all to do with shinto, earthquakes, anime, smartphones, or convenience stores, you fucking hack.