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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, @08:20AM (1 child)

    by Anonymous Coward on Monday October 23 2017, @08:20AM (#586227)

    You sound like someone who totally pissed off YOUR CO-WORKERS.
    Your entire attitude sounds self-centered and assholey.
    It wouldn't surprise me at all if you are speaking from actual person experience about getting thrown out.
    I wouldn't want you in -my- organization.

    ...and good luck going up alone against The Corporation with its lawyers and specialists in manipulation.
    They are organized; you are easy pickings.

    ...and I mentioned that unions are on my list below worker-owned cooperatives.
    ...but as long as Capitalism still exists in a workplace, organizing as a union is the best card that those workers have to play.

    -- OriginalOwner_ [soylentnews.org]

  • (Score: 0) by Anonymous Coward on Monday October 23 2017, @05:41PM

    by Anonymous Coward on Monday October 23 2017, @05:41PM (#586441)

    OK, so everyone who doesn't toe your party line can die in a fire, while all the good little cogs are good little cogs for the union.

    Being an entrepreneur, risks and all, sounds really fabulously great in your world. Better than sucking union dick without even the option of changing the flavour of dick by changing jobs.