Buffet Tells His Side On The Wage War Issue
Business tycoon Warren Buffet seemingly had some choice words for the situation that is standing out in this broken job economy in America today. If anybody haven’t noticed already by now about the whole minimum-wage protest to raise the base pay from anything as low as $8.25 an hr to $15, then they must be on another planet called “Attentionless” LOL.
Employees of profitable companies like the ever so popular fast food chain restaurant McDonalds, have been getting an ear full from it’s workers to up the pay or their don’t play type insinuate pitch.
But companies like McDonalds come right back in defense and say, “We just don’t have the finances to bank roll that type of pay to our workers.” So the workers go back and find out just how the fast-food giant has done over the span of a few years in terms of revenues earned.
McDonalds has earned about 28 billion in revenue sales, which has been on an upward five-year trend. That does definitely sounds like a lot of cash wouldn’t you say I know the employees would think so LOL, but is it really enough to handle a spike in the escalation of raising the minimum wage pay?
So you and I would think from there, if they can’t dish out a little more cash to the common workers that slave for them to make their food sell, sell, sell, then what is happening to the revenue that is earned from year to year especially during the 5-year hike in revenue earned.
I think that question would have to throw at the ,owner, CEO’s, and other business investors that monitor the company’s / corporation’s (chains of McDonalds over the country & overseas) made revenue & expenses.
So now back to what Buffet was about to say that the minimum-wage increase could damage the company’s financial
success for the future, the question then is exactly how? I mean you do see the chart that is in front of your eyes how dough is being pushed into McDonald’s pockets from year to year (and not the clown’s pockets, that’s too much money for him to stuff in there!).
Buffett did say this much about the whole situation forth-right…
“It’s under a lot of pressure than it was 10 or 15 years ago, particularly in the united states. But their sales went up last year just as they’ve gone up nearly every year.” – end quote.
So basically what he is saying is that if the hike on wages was to happen, then it would also bring the reduction of jobs as
(McDonalds at $28.11 billion in revenue amount at year 5 picture)
They will however take care of anybody that is involved with the industries success, after all business is well business. And any other parties that is aligned to turn huge profits with Mikey D’s, you can bet your gym shoe laces that they will have their laces tied extra tight to keep it that way…
Minimum-Wage Fact or Fiction?
(By: Jaye Irons)