The Money in Banks

rtm3039

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Consider this Ray.....If a corporation closes its doors because of NO sales or business, its emplyees are still out of work.

There has to be a compromise because without one, there can not be the other. It is and always has been a two way street.

Allow me to give you an example. If and or when the government mandates a $15.00 minimum wage, the company or business will lose employees, or does not financially help those people who own business, they will close.

Why. There P & L is based on sales with ebit always being the bottom line. A grocery store operates on a projected ebit of approx. 5%.
A drug store like Walgreens operates on about a 15% ebit.

Now when the expense of payroll increases by 46% ($7.00 increased to $15.00) a business has only TWO ways to absorbed that expence.

1. Raise prices.
2. CUT PAYROLL.

Most business can not in any case increase prices by 46%. It is just not possible to do.

That means if an employer has 10 employees today and the increases begin tomorrow, tomorrow…..4 people are now unemployed.
Not going to get an argument from me on that. I understand the idea behind a "living wage," but never thought selling burgers at Mickie D's was a career move worth dedicating your post-teenage years life to.

On the other hand, it is kind of embarrassing that we are 12th in he world on minimum wages. No one is doing $15.00, but many are doing >$10.00:

1Australia14.14
2Luxembourg13.14
3New Zealand11.28
4France11.24
5Netherlands11.01
6Ireland10.87
7Belgium10.78
8Germany10.06
 
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rtm3039

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Consider this Ray.....If a corporation closes its doors because of NO sales or business, its emplyees are still out of work.

There has to be a compromise because without one, there can not be the other. It is and always has been a two way street.

Allow me to give you an example. If and or when the government mandates a $15.00 minimum wage, the company or business will lose employees, or does not financially help those people who own business, they will close.

Why. There P & L is based on sales with ebit always being the bottom line. A grocery store operates on a projected ebit of approx. 5%.
A drug store like Walgreens operates on about a 15% ebit.

Now when the expense of payroll increases by 46% ($7.00 increased to $15.00) a business has only TWO ways to absorbed that expence.

1. Raise prices.
2. CUT PAYROLL.

Most business can not in any case increase prices by 46%. It is just not possible to do.

That means if an employer has 10 employees today and the increases begin tomorrow, tomorrow…..4 people are now unemployed.
I am trying to find sympathy for the airline business, but I am struggling. Due to a death in the family, the wife and I had to do two round trip flights this year. Aside from charging us for the flight, they got $30.00 per piece of luggage and we had to pay $27.00 just to reserve our actual seats on the plane to make sure the wife and I sat next to each other. They charge you extra for a window seat and even more to sit in the exit isle.

Yea, my heart is breaking on this one.
 
Sep 3, 2009
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I am trying to find sympathy for the airline business, but I am struggling. Due to a death in the family, the wife and I had to do two round trip flights this year. Aside from charging us for the flight, they got $30.00 per piece of luggage and we had to pay $27.00 just to reserve our actual seats on the plane to make sure the wife and I sat next to each other. They charge you extra for a window seat and even more to sit in the exit isle.

Yea, my heart is breaking on this one.
The very same thing happened to us Ray. Being in the ministry, that happens to my wife and I several times a year as I am asked to do funerals and wedding for friends who know me in other states. I understand your reasoning but that is how business works.

That is the very same idea when you stay in the hospital and they charge you $5.00 for ONE aspirin. Some would call that profit but it is a way to recoup money lost because illegal aliens do not pay for emergency room care or even hospital stays.

Do you realize that when you fill a pain prescription at 2 am at a 24 hour pharmacy, from a hospital emergency room, you pay more than at 2 pm. The pharmacy knows you are not going to refill a medication from an emergency room so they add on anywhere from .25 cents to $1.00. That is not profit but is a way to recoup losses from all the stolen property from each store.

Do we condemn businesses for trying to stay in business so that people can have jobs to support their families.?

We are in fact a capitalist country and that is how capitalism works.
 
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Not going to get an argument from me on that. I understand the idea behind a "living wage," but never thought selling burgers at Mickie D's was a career move worth dedicating your post-teenage years life to.

On the other hand, it is kind of embarrassing that we are 12th in he world on minimum wages. No one is doing $15.00, but many are doing >$10.00:

1Australia14.14
2Luxembourg13.14
3New Zealand11.28
4France11.24
5Netherlands11.01
6Ireland10.87
7Belgium10.78
8Germany10.06
I for one promote that people get as much as the system can afford to pay. I wish the minimum wage was $30 or $49 dollars an hour.

Of course, it is that much when people go to scholl, learn a trade or profession. When I worked all summer in 1960 roofing houses, I knew that I was going to learn to do something else and that kind of hard work motivated me to go to school so I could make $40 an hour and even more than that.

Most employers pay more than the minimum. . Fast food workers in New York City now are paid $13.50 per hour.
 
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It's a CNN report, so we know it is going to lean to the left.
We can also know that it is going to stretch the truth to the limit of possibility.

I just watched Senator John Brasso, from Colorado, a Medical doctor say that the phrase 3 economic stimulator package in the Senate was negotiated and confirmed for passage in a bi-patrician method until Mrs. Pelosi joined the negotiation Sunday afternoon and demanded $50 million dollars for......…"PLANNED PARENHOOD".

The financial crisis over this virus and its effects are being hijacked and the Senate blackmailed over money to pay for abortions.

As Tom Cruise once said...…….."Follow the Money".!!!!

She is a Roman Catholic and if I was her priest, I would refuse her communion.

As a matter of fact, I have some Catholic friends in high places and I think that I am going to make a few phone calls.......NO, I am going to do just that.
 
Mar 27, 2010
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I have not been in the room to hear the discussions, however the problems are pretty easy to find out.

With people out of work, mortgages due, and the economy headed for a hard landing, here are a few of the things house democrats are wanting to add to a bill which originally was created to help American workers pay their bills because of government mandated stay at home reccomendations:

1. Diversity on corporate boards.

2. Early voting and same-day registration.

3. New limits on greenhouse gases.

4. Minority credit unions and banks.

5. Retirement packages for community newspapers.

What does any of those things have to do with getting money in the hands of people who have no pay check coming in to buy food for their families.? It is not even something that should be discussed.

Now maybe these concerns are not true. Maybe the internet is lying.

I am not one to argue over politics and my history of posts over time show that. But my goodness, why would anyone hold up a bill designed to help out of work people pay their bills be held up over such outrageous concerns.

IMO......it is terrible if these things are true, whether these people are Republican or Democrats, this is no time to be adding irrelevant conditions to federal aid to hungry and out of work people due to something beyond their controle.
I know a stall when I see one, and this certainly fits the bill. I don't have a dog in this hunt, (both are playing political games IMHO) but whatever happened to having a love for the land a foundation of laws that provides you freedom of 'life liberty and the pursuit of happiness'.
 
Mar 27, 2010
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I for one promote that people get as much as the system can afford to pay. I wish the minimum wage was $30 or $49 dollars an hour.

Of course, it is that much when people go to scholl, learn a trade or profession. When I worked all summer in 1960 roofing houses, I knew that I was going to learn to do something else and that kind of hard work motivated me to go to school so I could make $40 an hour and even more than that.

Most employers pay more than the minimum. . Fast food workers in New York City now are paid $13.50 per hour.
You would bankrupt most of the small mom and pop business's. It would be a better idea to create a youth wage to get them into the working world and give them experience, and give the small mom and pops a break and good source of young employees.
 
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www.literatelibrarian.com
We already have a youth wage, I got paid minimum at the bookshop and its recently been raised. Teacher Aides and support staff at school unionised and demanded higher wages so they wouldn't have to do two jobs to make ends meet. I think absolutely TAs do more than just babysit. They are essential. Don't knock babysitting either.

Of course a lot of men still think women ought to be paid less and mothers do not even get a wage! As housework isn't even considered work lol
 
Mar 27, 2010
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We already have a youth wage, I got paid minimum at the bookshop and its recently been raised. Teacher Aides and support staff at school unionised and demanded higher wages so they wouldn't have to do two jobs to make ends meet. I think absolutely TAs do more than just babysit. They are essential. Don't knock babysitting either.

Of course a lot of men still think women ought to be paid less and mothers do not even get a wage! As housework isn't even considered work lol
Well, it would be to introduce 14-16 year olds who are still at home into the work force and teach them the skills needed. For those 16 to 18 you would them pay the minimum wage, and then from 18 up you would go to what would be considered a 'living wage' or what would maintain a normal standard of living for the middle class. The only problem is that as the wages go up you can also have inflation follow, and then you end up loosing even a middle class level, so it has to be done with consideration and careful planning. Unions tend to force the issue with no thought on the long term affects, for example my wife's son whose union just pushed through a new contract, is getting paid by the airlines for handling baggage, over six figure income a year. More than the average salary of a nurse and to say nothing of teachers..
https://nurse.org/articles/highest-paying-states-for-registered-nurses/
http://www.nea.org/home/2017-2018-average-starting-teacher-salary.html
 

rtm3039

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The very same thing happened to us Ray. Being in the ministry, that happens to my wife and I several times a year as I am asked to do funerals and wedding for friends who know me in other states. I understand your reasoning but that is how business works.

That is the very same idea when you stay in the hospital and they charge you $5.00 for ONE aspirin. Some would call that profit but it is a way to recoup money lost because illegal aliens do not pay for emergency room care or even hospital stays.

Do you realize that when you fill a pain prescription at 2 am at a 24 hour pharmacy, from a hospital emergency room, you pay more than at 2 pm. The pharmacy knows you are not going to refill a medication from an emergency room so they add on anywhere from .25 cents to $1.00. That is not profit but is a way to recoup losses from all the stolen property from each store.

Do we condemn businesses for trying to stay in business so that people can have jobs to support their families.?

We are in fact a capitalist country and that is how capitalism works.
Don't know much about the impact of illegal aliens on the extra cost, but I suspect the poor natural citizens of this here country don't pay for ER services either.

rtm
 

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23
 

rtm3039

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STAFF CAUTION: Several posts in this thread regarding undocumented immigrants and their effect on the economy, have been removed due to tensions and angry responses.

We caution participants to review Forum Rule 2.1 before posting on that topic anywhere in this Forum.



23
Yes, I read the last comment made and thought "we" were getting close to the edge. Went in a new direction, once Major took it in that direction. Still, it was civilized until the last post addressing the post right before it.

I was just too tired to mess with it last night, as my nightly walk ended up more like a journey. One thing lead to the other and I clocked in a little over 8 miles (8.66). All that walking and only saw 3 people.

Ray
 
Mar 27, 2010
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Yes, I read the last comment made and thought "we" were getting close to the edge. Went in a new direction, once Major took it in that direction. Still, it was civilized until the last post addressing the post right before it.

I was just too tired to mess with it last night, as my nightly walk ended up more like a journey. One thing lead to the other and I clocked in a little over 8 miles (8.66). All that walking and only saw 3 people.

Ray
You got to stop walking on the beach.....;)
 

rtm3039

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You got to stop walking on the beach.....;)
Actually, the beach from me is about 21 miles away. Just walking the neighborhood. There is no one anywhere. Here is a live shot of Miami Beach. There does appear to be a long line of ships waiting for permission to enter the sea port.

the beach.JPG
 
Mar 27, 2010
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Actually, the beach from me is about 21 miles away. Just walking the neighborhood. There is no one anywhere. Here is a live shot of Miami Beach. There does appear to be a long line of ships waiting for permission to enter the sea port.

View attachment 4627
My wife was going to invest in South Beach back in day when it was in a slump, even then it never got this bad.
 

rtm3039

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My wife was going to invest in South Beach back in day when it was in a slump, even then it never got this bad.
I grew up on south beach; 5th and Michigan, and went to school there. By best friend is a sergeant on the beach PD. They are working what is called "Alpha-Bravo," which means 12 hours on and 12 hours off.
 
Mar 27, 2010
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Just a note, I was talking with my wife about her sons income, and she corrected my math, so it would be less than I figured with the new contract. He tends to work holidays and double shifts which is time and a half, but the average at his level of seniority will still be above the average for the nurses and teachers.
 
Sep 3, 2009
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Yes, I read the last comment made and thought "we" were getting close to the edge. Went in a new direction, once Major took it in that direction. Still, it was civilized until the last post addressing the post right before it.

I was just too tired to mess with it last night, as my nightly walk ended up more like a journey. One thing lead to the other and I clocked in a little over 8 miles (8.66). All that walking and only saw 3 people.

Ray
My deepest apologies.

I have been compromised recently with 3 ruptured disks....l3-4-5 and I had surgery Sat. morn.

I should not have even been on the board at all and I am going to be off for some time now .
 

rtm3039

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My deepest apologies.

I have been compromised recently with 3 ruptured disks....l3-4-5 and I had surgery Sat. morn.

I should not have even been on the board at all and I am going to be off for some time now .
No need for that. You were not the one who got nasty; you never are.

Hope your recovery goes fast.

Ray
 
Sep 3, 2009
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No need for that. You were not the one who got nasty; you never are.

Hope your recovery goes fast.

Ray
Thank you my brother but it seems that I was involved in some way and I did not intend to be. I would rather be on the outside looking in than on the inside looking out.