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"Government driving up the cost of labor" is an absurd thing to say for the CEO of a company which is expanding and who, most likely, drives around in a luxury
by syats 11y ago
"Government driving up the cost of labor" is an absurd thing to say for the CEO of a company which is expanding and who, most likely, drives around in a luxury car and owns a private airplane. Rising wages are only a problem for greedy businessmen who won't buckle up for once and pay employees their fair share, sacrificing maybe a year or two of ski-holidays and caviar.
- AndrewUnmuted 11y agoActually, your comment appears to be even less based on reality and observation than the quotation you're railing against. Assuming you're reserving your diatribe for the US, major corporations are simply hoarding and offshoring cash reserves. This is so that they can defer paying the highest corporate income tax in the world, and wait to file all of this cash when the next administration announces a corporate income tax holiday. That will be when the hiring happens and wages get raised in the US.
- Aloha 11y agoa large majority of the Carls Jr locations are franchise - the pay of the CEO of McDonalds or Carls Jr is not really connected. A far larger problem is the market focus on short term performance and a changing regulatory environment (post enron) that criminalizes mistakes - for the last 30 years (since the corporate raider era in the 80's) CEO tenure has been shrinking, and overall risk has (to the CEO) been rising - because of that rising risk (of being sued, fired (for not meeting unrealistic market performance), or even going to jail) - their pay has gone up considerably. I'm not saying any of this is good or right - it just is.