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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.
(Score: 0) by Anonymous Coward on Monday October 23 2017, @09:01PM
The more that the Capitalist Ownership Class can fragment The Workers, the easier it is to pick them off one by one.
My example took that to the other extreme.
When push comes to shove, bigger tends to be better and unions are no exception.
...that is, if the union officers handle things properly.
In recent years, union officials tend to be lapdogs for management/owners. 8-(
(We had a recent story about Aussie auto workers and their company-friendly union; why the members aren't voting out those losers I just don't understand.)
The nurses unions are the most vociferous bunch in the USA (and the most effective) and that's with them being split into several groups.
Just imagine if they clenched these individual fingers into a fist.
a written contract [for every worker]
Amen.
This "fire at will" crap
Yeah. I've been using the term The Precariat [google.com] more and more.
...in particular, WRT a lack of universal healthcare and a low labor participation rate and you've pointed to another aspect of the problem.
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