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Thread: Walmart Gives 500,000 Workers A Raise

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by ludin View Post
    which has nothing to do with how business actually run themselves.
    however I have asked for him to define living wage.

    is it 10-20-30-40-50 dollars an hour?

    what is it, and how do you expect businesses to pay people that are not worth that skill wise that kinda of money?
    the whole entire living wage argument is a joke. just because you work doesn't mean you earn 20 bucks an hour.

    a bag boy at the grocery store doesn't have the skills required to earn more than 7.25 an hour. the job just doesn't call for it.
    If you go to the link it has a calculator of what a living wage is down to every county in the nation. Not a nationwide one.
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by ludin View Post
    not really because walmart and other companies will adjust their prices accordingly in order to maintain their profit %...
    Nope. Walmart and other companies will adjust their prices to whatever they feel is the profit maximizing amount. They don't seek to maintain their profit %, they seek to make as much profit as they can. If this means less profit (due to whatever reasons), then that's the best they can do, and if it means more profit then they certainly aren't going to pass on more profit.

    Companies care much more about the bottom line, than they do profit margins.

    think about it, if you owned a business, and you could chose between two different business models, one which would result in a million dollar bottom line but a very small margin, and the other resulting in a half million dollar bottom line but a huge margin, which would you chose?

    If you were an investor, and you had to make a choice between two different stocks which were priced identically per share and were otherwise equal, would you chose the stock of a company that had a large profit margin as a percentage of sales but only made $1/year/share, or the one with a lower profit margin that made $2/share/year?

    I think I wouldn't give a rats arse about margin on sales, I would go for the more profitable company in both cases.
    Last edited by imagep; 02-22-15 at 07:20 PM.
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    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by imagep View Post
    Nope. Walmart and other companies will adjust their prices to whatever they feel is the profit maximizing amount. They don't seek to maintain their profit %, they seek to make as much profit as they can. If this means less profit (due to whatever reasons), then that's the best they can do, and if it means more profit then they certainly aren't going to pass on more profit.

    Companies care much more about the bottom line, than they do profit margins.
    You are wrong about Walmart. They have programs that put made in the USA products on their shelves at a much thinner profit margin than comparable Made in Wherever Else products. Walmart's current profit margin is 3.77% (Wal-Mart Stores Profit Margin (Quarterly) (WMT)). They rake in their money on volume.

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by jet57 View Post
    walmart has plenty of money to fill such a small space. They're not going to cut off their nose to spite their face. They will reduce hours quite probably, but that will only make the organizing drive that much stronger.
    Walmart already operates with as few employees as it thinks it needs. That's why there is often only 3 checkout lines open despite the fact they may have 12. Walmart will not reduce hours or employees below the number that they believe they need.

    Even if Walmart comes up with more efficiency, it won't reduce the number of work hours below what it needs, regardless of what the cost of labor is. To reduce it's staff below the profit maximizing level, would only result in lower profits, and thus would defeat the purpose.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by TheDemSocialist View Post
    Should be based around the cost of living of the community.
    How about some examples?
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by imagep View Post
    Nope. Walmart and other companies will adjust their prices to whatever they feel is the profit maximizing amount. They don't seek to maintain their profit %, they seek to make as much profit as they can. If this means less profit (due to whatever reasons), then that's the best they can do, and if it means more profit then they certainly aren't going to pass on more profit.

    Companies care much more about the bottom line, than they do profit margins.

    think about it, if you owned a business, and you could chose between two different business models, one which would result in a million dollar bottom line but a very small margin, and the other resulting in a half million dollar bottom line but a huge margin, which would you chose?

    If you were an investor, and you had to make a choice between two different stocks which were priced identically per share and were otherwise equal, would you chose the stock of a company that had a large profit margin as a percentage of sales but only made $1/year/share, or the one with a lower profit margin that made $2/share/year?

    I think I wouldn't give a rats arse about margin on sales, I would go for the more profitable company in both cases.
    The 'bottom line' is profit.
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    Re: Walmart Gives 500,000 Workers A Raise

    The issue of wages is not a simple thing, very complex in fact.
    On the one hand, there are some people who aren't worth even $7.50 an hour. Anyone who has worked in an entry level job, or supervised people who do, will agree with that one.
    On the other hand, if people don't have money, then business doesn't have a market.
    And automation has eliminated a whole lot of jobs that people used to do, which affects supply and demand for labor.
    Of course, there's SS disability, which some seem to consider a career, along with a variety of other government handouts that in aggregate cost us around a trillion a year.
    But, even people who are not worth minimum wage need to have something worthwhile to do. Idleness, the old saying goes, is the Devil's workshop. Whether or not you believe in the Devil, it's pretty obvious that people with nothing to do tend to get in trouble and/or engage in self destructive behaviors.
    But, eliminate that trillion in means tested welfare, eliminate the minimum wage, and we have a limited market for people who do produce.
    And business, whether it is a large retailer like WalMart, or the local deli, are in business to make money. The bottom line is profit, and not social welfare. If they don't make money, they're soon out of business.
    So, now: Is there a simple solution to this rather complex issue?
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by SMTA View Post
    The 'bottom line' is profit.
    Yup. That's the way I understand it also.

    So?
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  9. #249
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by Dittohead not! View Post
    The issue of wages is not a simple thing, very complex in fact.
    On the one hand, there are some people who aren't worth even $7.50 an hour. Anyone who has worked in an entry level job, or supervised people who do, will agree with that one.
    On the other hand, if people don't have money, then business doesn't have a market.
    Those few who arent worth $7.50, tend not to be worth any wage, not even a penny. I've had one employee like that.

    Most of the time the employer is going to do exactly what I did - fire them.

    But, even people who are not worth minimum wage need to have something worthwhile to do.
    Yup. It's unfortunate that some people are totally incapable of creating any value. We have government programs for people like that, the private sector should not be expected to be their baby sitter.

    So, now: Is there a simple solution to this rather complex issue?
    Nope, but maybe the basic income guarantee will one day become the answer.
    Quote Originally Posted by ocean515 View Post
    ...I'm not interested in debating someone who is trolling for an argument....
    Quote Originally Posted by Papa bull View Post
    I see a big problem with the idea that whatever the majority wants is OK.

  10. #250
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    Re: Walmart Gives 500,000 Workers A Raise

    Quote Originally Posted by imagep View Post
    Those few who arent worth $7.50, tend not to be worth any wage, not even a penny. I've had one employee like that.

    Most of the time the employer is going to do exactly what I did - fire them.



    Yup. It's unfortunate that some people are totally incapable of creating any value. We have government programs for people like that, the private sector should not be expected to be their baby sitter.



    Nope, but maybe the basic income guarantee will one day become the answer.
    Maybe.

    Or, maybe the answer, or part of it anyway, is to make the government the employer of last resort, and eliminate any and all giveaways except for people who are truly unable to work. There is plenty to do, after all, that doesn't necessarily yield a profit but is still worthwhile. Maybe some people who aren't worth minimum wage can learn some job skills and work ethic.
    "Donald Trump is a phony, a fraud... [he's] playing the American public for suckers." Mitt Romney

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