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Thread: President Trump Thread...

  1. #2021
    Senior Member Cowboysrock55's Avatar
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    By Tyler Durden

    ​In yet another awkwardly rational response to government intervention in deciding what's "fair", the blowback from minimum wage demanding fast food workers has struck again. Wendy's plans to install self-ordering kiosks in 1,000 of its stores - 16% of its locations nationwide.
    "Last year was tough — 5 percent wage inflation," said Bob Wright, Wendy's chief operating officer, during his presentation to investors and analysts last week. He added that the company expects wages to rise 4 percent in 2017. "But the real question is what are we doing about it?"

    Wright noted that over the past two years, Wendy's has figured out how to eliminate 31 hours of labor per week from its restaurants and is now working to use technology, such as kiosks, to increase efficiency.
    Wendy's chief information officer, David Trimm, said the kiosks are intended to appeal to younger customers and reduce labor costs. Kiosks also allow customers of the fast food giant to circumvent long lines during peak dining hours while increasing kitchen production.

    As Dispatch.com reports, the Dublin-based burger giant started offering kiosks last year, and demand for the technology has been high from both customers and franchise owners.
    "There is a huge amount of pull from (franchisees) in order to get them," David Trimm, Wendy's chief information officer, said last week during the company's investors' day.

    "With the demand we are seeing ... we can absolutely see our way to having 1,000 or more restaurants live with kiosks by the end of the year."

    A typical store would get three kiosks for about $15,000. Trimm estimated the payback on those machines would be less than two years, thanks to labor savings and increased sales. Customers still could order at the counter.

    Kiosks are where the industry is headed, but Wendy's is ahead of the curve, said Darren Tristano, vice president with Technomic, a food-service research and consulting firm.

    "They are looking to improve their automation and their labor costs, and this is a good way to do it," he said.
    Who could have seen that coming? As we noted previously, minimum wage laws - while advertised under the banner of social justice - do not live up to the claims made by those who tout them. They do not lift low wage earners to a so-called “social minimum”. Indeed, minimum wage laws — imposed at the levels employed in Europe — push a considerable number of people into unemployment. And, unless those newly unemployed qualify for government assistance (read: welfare), they will sink below, or further below, the social minimum.

    As Nobelist Milton Friedman correctly quipped, “A minimum wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.”

    Despite the piling up mountain of evidence on the harmful "unintended consequences" of artificially high minimum wages, we suspect we already know how this story ends. After all, it's much easier to win elections by promising people more stuff rather than less. And, as an added bonus, when it all goes horribly wrong it's very easy to lame the blame at the feet of the wealthy 1%'ers who are behind all the layoffs. Checkmate.
    This article was originally published at Zero Hedge.

    _________________________________________

    So instead of paying People $8 an hour the company will pay them $0 an hour. Does that make Wendys evil? Or smart? Or should they have to share their profits with the robots...

  2. #2022
    Banned townsend's Avatar
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    Quote Originally Posted by Cowboysrock55 View Post
    By Tyler Durden
    wut?
    So instead of paying People $8 an hour the company will pay them $0 an hour. Does that make Wendys evil? Or smart? Or should they have to share their profits with the robots...
    This well tread argument is dumb. Automation is going to happen no matter what, anyone who wants to keep wages low to prolong the inevitable is really missing the target. Which is jobs that cant be automated, like the person who installls and repairs those kiosks, or the person who delivers the food, prepares the food, etc. order taking is only a smallest portion of min wage jobs.

  3. #2023
    Senior Member 2233boys's Avatar
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    Quote Originally Posted by townsend View Post
    That's cool but there has to be some semblance of party unity if we're going to see any kind of change.

    The whole point in releasing the Podesta emails was to create division within the Democratic Party. Thanks to the unique invention of Shroedinger's Bernie, (who was simultaneously incorruptible and a sellout for campaigning for Hillary) a third of the party decided to take its balll and go home. Bernie wouldn't have been a living Martyr if he had won, hacks and leaks would have happened to make him seem like a crazy kook, and the establishment third of the party would have stayed home.

    That's not how you win in a two party system, because Republicans have a whole lot of idiots who will vote for their side no matter what. It's fucking cynical, but you won't win anything going it alone. All you do is divide the opposition to the party that stands against everything you believe in.

    It's true that Perez opposed Sanders, it's also true that Perez opposed Hillary in 08, he probably has better insight on how Obama won, since he's an Obama guy. That's what's obnoxious, Obama has always been left of Clinton, but to the left most side of the party, Establishment is Establishment.
    I love your posts.

  4. #2024
    Senior Member L.T. Fan's Avatar
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    Business will find a way to price costs of production versus revenues derived from production or sales of goods. The pro forma method is a tool that will project both sides of the equation to determine the price of production all the way through to the necessary pricing and required amount of sales to produce a break even point. From this model business will fine tune each component to determine what is a resonable profit margin.

    It is simply Willy nilly to establish an arbitrary price for paying employees. The business has to know whether as an on going concern if it can survive. Arbitrary wage pricing won't work for most situations.
    Since Day One

  5. #2025
    El Presidente' skidadl's Avatar
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    Quote Originally Posted by 2233boys View Post
    I love your posts.
    Let's not gay this thread up too much.

  6. #2026
    Senior Member Cowboysrock55's Avatar
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    Quote Originally Posted by townsend View Post
    wut?

    This well tread argument is dumb. Automation is going to happen no matter what, anyone who wants to keep wages low to prolong the inevitable is really missing the target. Which is jobs that cant be automated, like the person who installls and repairs those kiosks, or the person who delivers the food, prepares the food, etc. order taking is only a smallest portion of min wage jobs.
    I imagine food preparation isn't far from automation either. I've already seen a kiosk that can cook a pizza from scratch. Before you know it you'll have one kiosk repair man for every 100 minimum wage jobs replaced. You'd still need a manager onsite in most situations but that's about it. We are a whole lot closer to that then a person being paid $15.00 an hour to work at a fast food business.

  7. #2027
    Senior Member Cowboysrock55's Avatar
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    Quote Originally Posted by townsend View Post
    wut?

    This well tread argument is dumb. Automation is going to happen no matter what, anyone who wants to keep wages low to prolong the inevitable is really missing the target. Which is jobs that cant be automated, like the person who installls and repairs those kiosks, or the person who delivers the food, prepares the food, etc. order taking is only a smallest portion of min wage jobs.
    You missed the point entirely though. Which was that if you raise the cost of labor employers are going to find ways to cut labor hours. It's basic economics that seems to escape most.

  8. #2028
    Banned townsend's Avatar
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    Quote Originally Posted by Cowboysrock55 View Post
    I imagine food preparation isn't far from automation either. I've already seen a kiosk that can cook a pizza from scratch. Before you know it you'll have one kiosk repair man for every 100 minimum wage jobs replaced. You'd still need a manager onsite in most situations but that's about it. We are a whole lot closer to that then a person being paid $15.00 an hour to work at a fast food business.
    Honestly that's nothing compared to the truckers that are about to be put out of business in the next 10 years due to automation.

    The fact is we need to be refitting our workforce to work in a post automation economy. And high minimum wage wont be enough, we're gonna need a universal basic income.

  9. #2029
    Senior Member Cowboysrock55's Avatar
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    Quote Originally Posted by townsend View Post
    The fact is we need to be refitting our workforce to work in a post automation economy. And high minimum wage wont be enough, we're gonna need a universal basic income.
    Yeah, no we don't. We aren't socialist.

  10. #2030
    Banned townsend's Avatar
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    Quote Originally Posted by Cowboysrock55 View Post
    Yeah, no we don't. We aren't socialist.
    That's all fine and good, but we'd be doing way better at designing economies if people didn't treat economics like religion. For all the criticism the left gets over identitry politics, I've never seen people get up their own but like people protecting the purest capitalism. Like if you ever were less than 1000 percent dedicated to Austrian economics then you are no true libertarian. How about we worry less about labels and try and actually build the economy that works the best.

    Our 1950s economy was a fucking powerhouse, and it got there through a hybrid of capitalist and socialist ideas.

    Now we're staring down the barrell of a world with no middle class. We need good solutions not people so concerned with labels that they send us back to the gilded age.

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