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-   -   McDonald's ex-CEO just revealed a terrifying reality for fast-food workers (http://defendingthetruth.com/economics/54437-mcdonalds-ex-ceo-just-revealed-terrifying-reality-fast-food-workers.html)

Sabcat May 25th, 2016 09:12 PM

McDonald's ex-CEO just revealed a terrifying reality for fast-food workers
 
Quote:

Fast-food industry veterans are coming out against raising the minimum wage.

"It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who's inefficient making $15 an hour bagging french fries," former McDonald's USA CEO Ed Rensi said in an interview on Tuesday on the Fox Business Network's "Mornings with Maria." "It's nonsense and it's very destructive and it's inflationary and it's going to cause a job loss across this country like you're not going to believe."

According to Rensi, rising labor costs are forcing chains to cut entry-level jobs and replace workers with machines. Currently, Wendy's, McDonald's, and Panera are rolling out kiosks across the US, in part because of the rising cost of labor.

McDonald's Create Your Taste 6Hollis Johnson
McDonald's Create Your Taste kiosk.

This isn't the first time Rensi, who served as McDonald's USA's president and chief executive from 1991 to 1997, has spoken out against increasing the minimum wage.

"I can assure you that a $15 minimum wage won't spell the end of the brand," Rensi wrote of McDonald's in Forbes in April. "However it will mean wiping out thousands of entry-level opportunities for people without many other options."

Rensi isn't alone in this belief.

"With government driving up the cost of labor, it's driving down the number of jobs," Andy Puzder, CEO of Carl's Jr. and Hardee's, told Business Insider. "You're going to see automation not just in airports and grocery stores, but in restaurants."


McDonald's ex-CEO takes on minimum wage - Business Insider

Sabcat May 25th, 2016 09:12 PM

Go robots!!!!

Sabcat May 25th, 2016 09:14 PM

http://i12.photobucket.com/albums/a2...psygenngga.jpg

coke May 26th, 2016 06:17 AM

http://www.kidsgamesheroes.com/pagin...rmers-Full.jpg

Sabcat May 26th, 2016 09:48 AM

so the skewed article by dailykoz or whatever got the socialists all moist, but the one where he actually is quoted about the reality of the robot takeover. nothing.


huh?

coke May 26th, 2016 09:52 AM

Quote:

Originally Posted by Sabcat (Post 944482)
so the skewed article by dailykoz or whatever got the socialists all moist, but the one where he actually is quoted about the reality of the robot takeover. nothing.


huh?

Does not fit the narrative from the hive.

Sabcat May 26th, 2016 10:32 AM

Quote:

Originally Posted by coke (Post 944487)
Does not fit the narrative from the hive.

they are so funny.

the socialist have been so quiet as of late. no cruz to poke fun of. clinton refusing to debate sanders as they continue to eat each other alive. socialist Venezuela crumbling. cuba allowing some free market. all the while trump is getting more and more popular.

whoa Mcdonalds CEO claims higher paid employees are more productive. holy shit that is a shocker. you know what else ha said? artificially inflated wages are a job killer. if we are forced to pay people $30k/yr to ask "do you want fries w/ that?" we will just buy a robot for $35k

huh?

Beasty May 26th, 2016 10:50 AM

What is the alternative really? Wages can't stay the same because they aren't matching inflation rates. This is not just a fast food phenomenon, it will happen to every career, trade, and job in due time. Anyone can tell you that this was going to happen, because of our socioeconomic system this was always the inevitability. But there aren't any solutions, and that's the million dollar question; as humans become less and less desirable for doing their own jobs; what, exactly, do we do with them?

BubbaJones May 26th, 2016 11:04 AM

In 1969 the min wage was in today's money $16 an hour. All those fat food joints and small businesses did just fine. Every time there's been a discussion of wage hikes we hear the exact same arguments. The truth is, is half the cases unemployment went up slightly and in the other half it went down slightly.

But here is the issue. Had min wage, like CONGRESSIONAL PAY and Social Security been tied to inflation, it would be $16 an hour today. It's less than half that. This is whats wrong with the economy. It;s what wrong with the federal and state budgets. The tax base is NOT RISING. As the price of everything else goes up and wages stay the same, people have less money to spend. Lower sales mean less income for local and state governments. Stagnant wages mean less income at the federal level.

We've reached the point where most working Americans can't afford many of the products and services they make. We need to raise wages and bring manufacturing back to this country.

RNG May 26th, 2016 11:17 AM

Quote:

Originally Posted by BubbaJones (Post 944511)
In 1969 the min wage was in today's money $16 an hour. All those fat food joints and small businesses did just fine. Every time there's been a discussion of wage hikes we hear the exact same arguments. The truth is, is half the cases unemployment went up slightly and in the other half it went down slightly.

But here is the issue. Had min wage, like CONGRESSIONAL PAY and Social Security been tied to inflation, it would be $16 an hour today. It's less than half that. This is whats wrong with the economy. It;s what wrong with the federal and state budgets. The tax base is NOT RISING. As the price of everything else goes up and wages stay the same, people have less money to spend. Lower sales mean less income for local and state governments. Stagnant wages mean less income at the federal level.

We've reached the point where most working Americans can't afford many of the products and services they make. We need to raise wages and bring manufacturing back to this country.

Where did you get the $16 figure from? A couple of sources I checked put it at $10.86 in 2015 dollars. That doesn't change the message, it's just that I am always on the lookout for manipulative statistics.

Minimum wage since 1938 - CNNMoney


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