trumpedthevirus wrote:
Sounds about right.....
https://www.usatoday.com/story/money/2020/06/05/amazon-cuts-hourly-pay-raise-and-other-emergency-measures/111901564/
As an Amazon stockholder, I sure hope the talk of Bezos getting to a trillion turn out to be correct. That means a 7 times increase in share price over the next 6 years!!!!!
They are free to go work somewhere else if they are unsatisfied with their pay. Or start their own company.
If you have an issue with this, you should stop buying stuff from Amazon, or advocate for tougher anti-trust legislation.
please correct me if I am wrong, I am sitting on the toilet at work and did not do much research.
Amazon couldn't afford to pay workers this way for much longer. Let's say that all 840,000 employees received $3 extra per hour. That is a total increase of $2,520,000 per hour for all amazon employees.
Now, Amazon made a profit of $11,588,000,000 last year.
So, if Amazon increases pay by $3 permanently, they will have an extra expense of $5.2 BILLION per year based on 2080 working hours in a year. Basically, reduce their profit by half.
That would wreck their profits, make all the money they owe to the lenders who own their facilities impossible to repay, generally ruin their low prices for us consumers.
Here's the thing. Amazon may be able to do this. They are big enough and rich enough. But you are saying you want Jeff Bezos to do this? From where? Where is he going to get $5.2 BILLION each year. And yes, you might say his net worth is $115+ billion, but that's not LIQUID. It is mostly wrapped up in ownership in Amazon. It is not impossible, but not sustainable.
So they're complaining about getting their normal salary? Jfc. I wish Bezos would actually cut their pay.
nopee wrote:
please correct me if I am wrong, I am sitting on the toilet at work and did not do much research.
Amazon couldn't afford to pay workers this way for much longer. Let's say that all 840,000 employees received $3 extra per hour. That is a total increase of $2,520,000 per hour for all amazon employees.
Now, Amazon made a profit of $11,588,000,000 last year.
So, if Amazon increases pay by $3 permanently, they will have an extra expense of $5.2 BILLION per year based on 2080 working hours in a year. Basically, reduce their profit by half.
That would wreck their profits, make all the money they owe to the lenders who own their facilities impossible to repay, generally ruin their low prices for us consumers.
Here's the thing. Amazon may be able to do this. They are big enough and rich enough. But you are saying you want Jeff Bezos to do this? From where? Where is he going to get $5.2 BILLION each year. And yes, you might say his net worth is $115+ billion, but that's not LIQUID. It is mostly wrapped up in ownership in Amazon. It is not impossible, but not sustainable.
There are also other costs to consider such as higher payroll taxes and benefits. So it would be more than 5 Billion. But this is misleading because companies with Amazon have an incentive not show large profits for tax reasons. Amazon's revenue was $280 billion last year and will exceed $300B this year. They could easily afford the extra cost, it would just take away from money they invest elsewhere to continue the companies growth.
Amazon's goal is not to pay its employees as much money as it could. It's to make Amazon as much money as possible. That entails paying employees what they're worth to Amazon. People can be upset about Amazon taking away $3 an hour bump but the reality is Amazon has shown time and time again to know exactly what they are doing and they did not get to be this massive company by paying more than they need to.
Primo Numero Uno wrote:
nopee wrote:
please correct me if I am wrong, I am sitting on the toilet at work and did not do much research.
Amazon couldn't afford to pay workers this way for much longer. Let's say that all 840,000 employees received $3 extra per hour. That is a total increase of $2,520,000 per hour for all amazon employees.
Now, Amazon made a profit of $11,588,000,000 last year.
So, if Amazon increases pay by $3 permanently, they will have an extra expense of $5.2 BILLION per year based on 2080 working hours in a year. Basically, reduce their profit by half.
That would wreck their profits, make all the money they owe to the lenders who own their facilities impossible to repay, generally ruin their low prices for us consumers.
Here's the thing. Amazon may be able to do this. They are big enough and rich enough. But you are saying you want Jeff Bezos to do this? From where? Where is he going to get $5.2 BILLION each year. And yes, you might say his net worth is $115+ billion, but that's not LIQUID. It is mostly wrapped up in ownership in Amazon. It is not impossible, but not sustainable.
There are also other costs to consider such as higher payroll taxes and benefits. So it would be more than 5 Billion. But this is misleading because companies with Amazon have an incentive not show large profits for tax reasons. Amazon's revenue was $280 billion last year and will exceed $300B this year. They could easily afford the extra cost, it would just take away from money they invest elsewhere to continue the companies growth.
Amazon's goal is not to pay its employees as much money as it could. It's to make Amazon as much money as possible. That entails paying employees what they're worth to Amazon. People can be upset about Amazon taking away $3 an hour bump but the reality is Amazon has shown time and time again to know exactly what they are doing and they did not get to be this massive company by paying more than they need to.
That makes sense. I am nopee, this is my registered account on my computer
And I have thought the same thing about taking monies away from other sources. Yep, you are right, a company always wants to report the lowest profit possible in order to pay the least amount of tax. What are the common examples of buckets that companies can decrease funding? Research and Development, maybe?
Isn’t he spending $4B on additional COVID infrastructure right now, too?
R&D
Construction Projects
Acquisition of other business
Bonuses to execs
There's plenty of ways to go about it.
Can you live on $15 an hour?
trumpedthevirus wrote:
Can you live on $15 an hour?
Of course I could. What's your point? That's not an argument for anything.
trumpedthevirus wrote:
Can you live on $15 an hour?
I couldn't live the way I do now but I definitely could. In college I lived on just over $15k a year and that included tuition. Making $30k a year, possibly $35k with overtime would have been luxurious at that point in my life.
thegripper07 wrote:
They are free to go work somewhere else if they are unsatisfied with their pay. Or start their own company.
You know you're full of this. Disgrace.
The entire economy is becoming reliant on these sh!t service jobs, which replace good-paying manufacturing jobs with glorified gig work coupled with meager benefits. What do you economic geniuses propose by way of maintaining enough people in this country who can actually afford to buy goods and services and perhaps even put away a few bucks for retirement?
For all of his foibles, and there were many, Henry Ford understood that you have to pay your workers enough to live and prosper, in his case enough to buy Ford cars. We now have increasingly slim margins of workers in this country who make their way marvelously, but under them are millions and millions of poorly paid, hard-working underclasses who barely scrounge by. An economy that cannot pay the bulk of its productive workers reasonable and livable wages is an economy that is a piece of sh!t. We will all increasingly be burdened by this sh!t economy, whether the elites believe it or not. Keep your elite heads in the sand and see how much more social upheaval comes our way.
Bezos churns my stomach. Here's hoping that we see a massive wealth tax, married to a massive increase in taxes on market investment and churn. If misers like Bezos won't find a way to pay his people on his way to trillions, we may have to claw back wealth from those like him to help our underclasses.
LRCUghh wrote:
The entire economy is becoming reliant on these sh!t service jobs, which replace good-paying manufacturing jobs with glorified gig work coupled with meager benefits. What do you economic geniuses propose by way of maintaining enough people in this country who can actually afford to buy goods and services and perhaps even put away a few bucks for retirement?
There already are enough people who are able to buy goods and services and save for retirement, especially because companies like Amazon have made it very cheap to distribute goods at a low price (in many cases at a loss to them).
Basically they got a bonus for a couple of months that doesn’t continue.
It’s not a pay cut.
Primo Numero Uno wrote:
trumpedthevirus wrote:
Sounds about right.....
https://www.usatoday.com/story/money/2020/06/05/amazon-cuts-hourly-pay-raise-and-other-emergency-measures/111901564/As an Amazon stockholder, I sure hope the talk of Bezos getting to a trillion turn out to be correct. That means a 7 times increase in share price over the next 6 years!!!!!
There's no way it sees 18k
Primo Numero Uno wrote:
trumpedthevirus wrote:
Sounds about right.....
https://www.usatoday.com/story/money/2020/06/05/amazon-cuts-hourly-pay-raise-and-other-emergency-measures/111901564/As an Amazon stockholder, I sure hope the talk of Bezos getting to a trillion turn out to be correct. That means a 7 times increase in share price over the next 6 years!!!!!
And that attitude about the shareholder is king is why we will eventually be speaking Chinese. Shareholders determine how this country is run...... and guess who is buying up more American stocks than anyone in the world?? That's right China. They have been waging a war and slowly taking over and deciding how this country is run via majority shareholders in the most powerful companies in America. u
Hayduke wrote:
And that attitude about the shareholder is king is why we will eventually be speaking Chinese. Shareholders determine how this country is run...... and guess who is buying up more American stocks than anyone in the world?? That's right China. They have been waging a war and slowly taking over and deciding how this country is run via majority shareholders in the most powerful companies in America. u
Okay boomer
RIP: D3 All-American Frank Csorba - who ran 13:56 in March - dead
RENATO can you talk about the preparation of Emile Cairess 2:06
Great interview with Steve Cram - says Jakob has no chance of WRs this year
Running for Bowerman Track Club used to be cool now its embarrassing
Hats off to my dad. He just ran a 1:42 Half Marathon and turns 75 in 2 months!
2024 College Track & Field Open Coaching Positions Discussion