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1 nines09  Oct 15, 2014 10:37:43am

Let them eat cake.

signed;
Your GOP

2 WhatEVs  Oct 15, 2014 11:43:41am

Gee…whodathunk that people not having money to spend would hamper economic growth.

What, you say? Every real economist on the planet? SOCIALISTS!!11!! Every last one.

/

3 Mentis Fugit  Oct 15, 2014 1:35:56pm

Driftglass advanced an interesting hypothesis: Walmart has a vested interest in low wages as people earning more stop shopping at Walmart and start giving their patronage to the competition. A sort of passive-aggressive “company store” approach.

4 cinesimon  Oct 15, 2014 4:11:19pm

Yet they continue to support the GOP. I love that Walmart is on the list. That’s some twisted irony.

5 Lumberhead  Oct 15, 2014 4:23:02pm

FTA:

But even as two-thirds of the companies in the study pointed to stagnating wages as a source of their problems, many of them have opposed or stayed silent on any proposed wage increases.

So they’ve identified a problem and won’t do anything to alleviate it.

6 nines09  Oct 15, 2014 5:37:44pm

re: #5 Lumberhead

But that costs money. If the GOP had their way minimum wage would be a fucking box in the parking lot with free dumpster dives on Friday nights. They show their concern every fucking day.

7 Lumberhead  Oct 15, 2014 5:55:30pm

re: #6 nines09

I can’t really blame the GOP specifically in this case; the problem is at the “C” level. Raising wages will hurt this quarter’s earnings. If that happens then the CEO, CFO, etc. won’t get to split 15 million. In fact, the CIO probably just purchased some software that makes sure that no worker on the ground gets more than 29 hours per week. Maybe now they’ll all get to split 18 million. When it all comes crashing down, either they’ll be long gone or they’ll get their golden parachutes.

8 nines09  Oct 15, 2014 6:04:08pm

re: #7 Lumberhead

The GOP has become the hammer that corporations use to break Unions, pensions, benefits, wages and jobs. The Democratic Party is not without blame, but the mask has dropped on the GOP. These companies and their jackal officers reap the benefits and the GOP throws up roadblocks and spins the news for them. Politicians have always been washing hands but what goes on today is outright piracy.

9 EiMitch  Oct 15, 2014 6:11:41pm

re: #5 Lumberhead

What do you expect? For these companies to take the initiative? No way! Increasing employee wages means increasing business costs. But any company that doesn’t follow suit will have a competitive advantage. Thats why they’re waiting on the government to raise the minimum wage, and thus keep the playing field level.

And thats why unregulated free-markets are the best. /do I need to?

10 Rightwingconspirator  Oct 15, 2014 7:11:04pm

re: #5 Lumberhead

FTA:

So they’ve identified a problem and won’t do anything to alleviate it.

Don’t be too sure. Angry shareholders can be a bitch for the BOD.

11 Lumberhead  Oct 15, 2014 7:20:39pm

re: #10 Rightwingconspirator

Don’t be too sure. Angry shareholders can be a bitch for the BOD.

As long as this quarter’s earnings are up, I doubt that the shareholders are going to be raising much hell. Eventually the earnings will be down but that isn’t going to raise wages today.

12 majii  Oct 15, 2014 8:47:00pm

re: #5 Lumberhead

I’ve discovered that oftentimes, very greedy individuals don’t like to share.

13 HappyWarrior  Oct 15, 2014 10:31:00pm

Then maybe they should stop contributing to the campaigns of people who are not only opposed to increase the wage but any floor for wages. Fact of the matter is we are and have always been a consumer based economy. Henry Ford of all people got that you need your employees to be consumers of your product. If you pay employees like shit, that’s not happening. It is quality labor that makes the capital increase not the other way around.

14 Fairly Sure I'm Still Obdicut  Oct 16, 2014 7:55:56am

re: #10 Rightwingconspirator

Don’t be too sure. Angry shareholders can be a bitch for the BOD.

Why would shareholders be angry?

15 Rightwingconspirator  Oct 16, 2014 9:22:55am

re: #14 Fairly Sure I’m Still Obdicut

Given the obvious lack of wisdom in short term policies that favor quarterly profits over long term stability and real growth, why would they not?

16 Fairly Sure I'm Still Obdicut  Oct 16, 2014 10:12:55am

re: #15 Rightwingconspirator

Given the obvious lack of wisdom in short term policies that favor quarterly profits over long term stability and real growth, why would they not?

Are you indulging in parody? Shareholders overwhelming have proven, over the past decades, to favor quarterly profits. There’s a lot of reasons for this, but one of the main things is that stock tend to be owned at a remove, through various funds, groups, etc. The only purpose that stock has is to make money for the fund: if they can cash it out, make money, and they reinvest, why wouldn’t they?

This is not speculation or anything, this is incredibly observably verifiable. If you want to read more on it:

17 Rightwingconspirator  Oct 16, 2014 10:34:49am

re: #16 Fairly Sure I’m Still Obdicut

Okay I can read that later, for conversation lets say you are 100% right there.
Market forces (such as a recognition & fact of the issue of low wages) have no impact at all?

18 Fairly Sure I'm Still Obdicut  Oct 16, 2014 10:45:45am

re: #17 Rightwingconspirator

Okay I can read that later, for conversation lets say you are 100% right there.
Market forces (such as a recognition & fact of the issue of low wages) have no impact at all?

Those aren’t market forces. Those are forces it’d take human action and reaction to affect. There are far more powerful market forces, as that document which you’re going to read later shows, pushing investors towards short-term returns.

Again, this is verifiable by simply looking at what’s happened in our nation over the past couple of decades.

This is actually a classic case of an area where government regulation is needed because most companies will take the lead. Some places, like Costco, already pay above average wages and have a strategy around that, but these other places, like Wal-Mart, specialize in competing against each other for the barest-bone, and the shittiest treatment of workers. Revamping strategy to pay higher wages would be a huge risk for them, if their competitors didn’t do so. If the government, however, forces all of the exploiting companies to raise wages, then nobody gains an advantage over anyone else.

It’s a classic case of private industry being paralyzed into inaction by market forces.

19 EPR-radar  Oct 17, 2014 4:49:24pm

re: #17 Rightwingconspirator

Okay I can read that later, for conversation lets say you are 100% right there.
Market forces (such as a recognition & fact of the issue of low wages) have no impact at all?

Market forces by themselves certainly aren’t going to do anything useful. We’ve seen how this works in the past few decades —- executive compensation going completely out of control, jobs being outsourced left and right, jobless recovery as the new normal etc., etc.

Corporate governance (via the board of directors etc.) is demonstrably incapable of dealing with these issues, even if we assume such governance exists as anything other than mutual back-scratching by oligarchs.

Obdicut’s point that government action is needed is absolutely true. The private sector by itself is simply incapable of making the economy work properly. Of course, the government action needs to work in practice, which is non-trivial to ensure. It’s not at all clear what exactly should be done, and it’s also not at all clear how to deal with the extremely powerful interests that prefer oligarchy and extreme wealth concentration.


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