World wide fast food strike

[Hamartia Antidote]

Hmm...living in the high cost of living area Manhattan and working in McDonald's.
Not a good strategy.

 

[xyxmt]

I dropped out of high school.
I don't have any skills.
My job can be done by an illegal immigrant off the streets after two hours of training.

But I demand $15 an hour.

well if a CEO can earn 20 million a year then why not, while there are 1000s of others who have same education as lets say CEO of city bank and more experience than him but not even making 200K

 

[Fukuoka]

I like Wendy's and Burger King.

Didn't know Wendy

 

[Hamartia Antidote]

Didn't know Wendy

it's bigger than Burger King (in the USA but not world sales)
McDonald's - In Photos: Top 10 Global Fast-Food Chains - Forbes
Top Fast Food Restaurant Brands In United States | QSR magazine

 

[cyphercide]

I dropped out of high school.
I don't have any skills.
My job can be done by an illegal immigrant off the streets after two hours of training.

But I demand $15 an hour.

Legal costs money!!!

 

[Developereo]

actually there are a lot of students working in fast food restaurants trying to earn some extra money since universities are so expensive

Typically, fast food employs high school and college students who either live at home, or with a bunch of roommates.

It is not designed as the main source of income for a grown adult supporting a family of four. That's one of the ways they keep their costs down.

well if a CEO can earn 20 million a year then why not, while there are 1000s of others who have same education as lets say CEO of city bank and more experience than him but not even making 200K

I agree that many compensation packages seem out of whack but we always come back to the Golden Rule: the one who has the gold makes the rules.

In the case of C-officers (CEO, CIO, CFO) what matters most is not education, but connections.

 

[Hamartia Antidote]

I agree that many compensation packages seem out of whack but we always come back to the Golden Rule: the one who has the gold makes the rules.

In the case of C-officers (CEO, CIO, CFO) what matters most is not education, but connections.

Well with a public company it's usually the Board of Directors that sets the pay.
As a stockholder you can vote for who is on the board.

But you don't have to be the CEO to make a lot of money. If you are a Portfolio Manager at a financial company and you make say $1B profit they'll happily pay you $10M of it to say thanks.

 

[Developereo]

Well with a public company it's usually the Board of Directors that sets the pay.
As a stockholder you can vote for who is on the board.

It is true that executives' compensation packages are approved by the board, but my point was that negotiations at that level are more about personal connections than objective criteria. The board can make exceptions and approve compensation way out of line with 'norms'.

As for voting, the only votes that matter are those of major shareholders to reach a majority. Joe Sixpack can cast a vote but it won't make much difference, except in extreme cases.

But you don't have to be the CEO to make a lot of money. If you are a Portfolio Manager at a financial company and you make say $1B profit they'll happily pay you $10M of it to say thanks.

Performance based bonuses are a different subject. I was talking more about base pay. It could be argued that, if someone is performing exceptionally well for the company's bottom line, then they deserve a cut as a bonus.

 

[fallstuff]

Well with a public company it's usually the Board of Directors that sets the pay.
As a stockholder you can vote for who is on the board.

But you don't have to be the CEO to make a lot of money. If you are a Portfolio Manager at a financial company and you make say $1B profit they'll happily pay you $10M of it to say thanks.

In most of the cases the board members are selected by the CEO.
CEOs typically oppose the election of Board members by the stockholders claiming that the stockholders don't understand complexities of running the business at the top
end.