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Thread: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Anthony60 View Post
    So, you feel that minimum wage can just be raised artificially by about 20%, and everyone is better off? Just to point out one basic effect, you raise the price of something, and the demand will go down. But, if I am reading this correctly, you feel increasing the cost will also increase the demand. Obviously, that is not true.
    The minimum wage is an artificial (not organic) means of setting pay level minimums. And no; I do not advocate a 20% increase, since from $7.25 to $12.00 is a 65.5% increase. And yes; everyone benefits when we expand our middle class, economically. And since minimum wage workers' pay is not likely to be socked away in Cayman Trusts, it indeed would explode demand, since it would affect nearly 50% of our workforce. (The epitome of high monetary-velocity-point)

    And cost is a calculation (%) based on demand side, too. So while increased labor cost would rise, for it to remain at or near the same percentage, sales need not increase at the same rate that wage minimums are raised. Plus other fixed monthly costs remain the same, and are thus now a lower percentage, which can actually result in higher gross profits for smaller retailers (McDonalds, which are franchises) and in fact be a windfall for larger retailers (Walmart which serves the lower-income market) since nearly half of their customers now have substantially more to spend on food, clothing and durable items.

    Consider the Big Mac Index, which has been the bailiwick of Economist (mag), which enables us to consider what FMW increases have done to a bellwether item, sold by franchise operations which are the epitome of FMW-affected labor cost ...

    http://koios.us/ph/bm-fmw.png

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Sisyphus View Post
    The minimum wage is an artificial (not organic) means of setting pay level minimums. And no; I do not advocate a 20% increase, since from $7.25 to $12.00 is a 65.5% increase. And yes; everyone benefits when we expand our middle class, economically. And since minimum wage workers' pay is not likely to be socked away in Cayman Trusts, it indeed would explode demand, since it would affect nearly 50% of our workforce. (The epitome of high monetary-velocity-point)

    And cost is a calculation (%) based on demand side, too. So while increased labor cost would rise, for it to remain at or near the same percentage, sales need not increase at the same rate that wage minimums are raised. Plus other fixed monthly costs remain the same, and are thus now a lower percentage, which can actually result in higher gross profits for smaller retailers (McDonalds, which are franchises) and in fact be a windfall for larger retailers (Walmart which serves the lower-income market) since nearly half of their customers now have substantially more to spend on food, clothing and durable items.

    Consider the Big Mac Index, which has been the bailiwick of Economist (mag), which enables us to consider what FMW increases have done to a bellwether item, sold by franchise operations which are the epitome of FMW-affected labor cost ...

    http://koios.us/ph/bm-fmw.png
    But you do realize that what you posted goes completely against the laws of supply and demand? And there is really no reason to believe that those laws will be suspended in this case.
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Anthony60 View Post
    But you do realize that what you posted goes completely against the laws of supply and demand? And there is really no reason to believe that those laws will be suspended in this case.
    No. Do you know you're wrong?

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Sisyphus View Post
    No. Do you know you're wrong?
    Go ahead and explain, I want to make sure I am not misunderstanding what you are saying, because I don't see anyway that it would work that way.
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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Anthony60 View Post
    Go ahead and explain, I want to make sure I am not misunderstanding what you are saying, because I don't see anyway that it would work that way.
    Whew. Fairly complex, but here's a primmer:

    The laws of supply and demand work nicely in computer models, and are covered early on in business schools at universities across America, to give students a cursory sense of how markets can function, at times, but most businesses and the products we buy are based purely on point-of-diminishing-return. Plus branding (artificially raising demand for product X) and channel strategies (managing supply of product X) make the concept of supply and demand nearly laughable. But Rush Limbaugh, who knows nothing of markets or economics, talks about it like it's some kind of holy grail, and the Rightie Retards who listen to him talk about it like they know something, which they do not.

    Like I said, it's cursory. But that's my take on supply and demand.

    Next, and if you wish, I could explain actual market dynamics. You merely need to ask.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Sisyphus View Post
    The minimum wage is an artificial (not organic) means of setting pay level minimums. And no; I do not advocate a 20% increase, since from $7.25 to $12.00 is a 65.5% increase. And yes; everyone benefits when we expand our middle class, economically. And since minimum wage workers' pay is not likely to be socked away in Cayman Trusts, it indeed would explode demand, since it would affect nearly 50% of our workforce. (The epitome of high monetary-velocity-point)

    And cost is a calculation (%) based on demand side, too. So while increased labor cost would rise, for it to remain at or near the same percentage, sales need not increase at the same rate that wage minimums are raised. Plus other fixed monthly costs remain the same, and are thus now a lower percentage, which can actually result in higher gross profits for smaller retailers (McDonalds, which are franchises) and in fact be a windfall for larger retailers (Walmart which serves the lower-income market) since nearly half of their customers now have substantially more to spend on food, clothing and durable items.

    Consider the Big Mac Index, which has been the bailiwick of Economist (mag), which enables us to consider what FMW increases have done to a bellwether item, sold by franchise operations which are the epitome of FMW-affected labor cost ...

    http://koios.us/ph/bm-fmw.png
    Why do you presume "other fixed monthly costs remain the same"? Wouldn't their labor costs increase as well?
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by radcen View Post
    Why do you presume "other fixed monthly costs remain the same"? Wouldn't their labor costs increase as well?
    Labor increases in size, but not percentage when the demand side is considered.

    Static costs are myriad, i.e. equipment leases, occupancy cost quite often, etc, etc.

    That help?

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Sisyphus View Post
    Labor increases in size, but not percentage when the demand side is considered.

    Static costs are myriad, i.e. equipment leases, occupancy cost quite often, etc, etc.

    That help?
    Before we continue any further, can you participate in a discussion without being insultingly condescending?

    I've noticed this seems to be pretty standard with you.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by radcen View Post
    1. Before we continue any further, can you participate in a discussion without being insultingly condescending?

    2. I've noticed this seems to be pretty standard with you.
    1. Nope
    2. You're keenly perceptive

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    Re: Walmart says it will kill plans to build 3 new stores if DC wage bill passes

    Quote Originally Posted by Sisyphus View Post
    1. Nope
    2. You're keenly perceptive
    Duly noted. Have a nice day.
    If you claim sexual harassment to be wrong, yet you defend anyone on your side for any reason,
    then you are a hypocrite and everything you say on the matter is just babble.

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