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posted by takyon on Sunday October 22 2017, @09:22AM   Printer-friendly
from the FIRE-sector-doing-bad-math-again dept.

The Intercept reports:

Bank of America Merrill Lynch downgraded Chipotle and warned investors that the stock will "underperform", complaining that the restaurant chain is paying its workers too much, and that cutting labor costs further will be difficult for the chain.

[...] Chipotle spokesperson Chris Arnold called Bank of America's analysis "flawed and inaccurate", adding that the restaurant chain hasn't cut employee hours but recently increased hours in conjunction with the addition of queso to the menu.

"That analysis is making estimates and conclusions about our management practices over a 12-year time frame from 2006 to 2017", Arnold told The Intercept. "Obviously, the scale of our business and labor wages have changed dramatically over that time frame. Drawing conclusions from 2006 and applying them as a directional change to our business over the past 12 months is simply flawed."

[...] "We continue to pay wages and offer benefits that are competitive and that reflect the priorities of our employees", Arnold said. "And with a commitment to developing and promoting people from within, we are providing significant opportunities for advancement."

The downgrade is a symptom of Wall Street's maniacal obsession with labor costs.


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  • (Score: 0) by Anonymous Coward on Monday October 23 2017, @02:46AM

    by Anonymous Coward on Monday October 23 2017, @02:46AM (#586142)

    Look around you! People are self-organizing, voluntarily, into violent forces, and all are bidding on their centralized force becoming a violently imposed monopoly. Men are tribal animals above all else.

    That's what I'm trying to say when I say men aren't angels. Humans are an inherently authoritarian species. The majority of humans desire following authoritarian leaders, which is why, because humans desire violent imposition, the best way forward is to grant a monopoly on contract enforcement.

    Allowing contract enforcement services to use the free market during this species' stage of evolution would invite disaster and another return to dark ages for them.

    The bad news is that this must needs imply a one world government founded on strict libertarian principles. I believe that must evolve before humans will be able to evolve into a more angelic species.

    Anarcho-capitalism is a system that is too advanced for man. One day, but not today.

    I hope that helps explain my position.