kalikshama -> RE: Wal-Mart Employees' Thanksgiving Food Drive... (11/19/2013 1:51:26 PM)
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The 10 Companies Paying Americans The Least: 24/7 Wall Street ...Companies that pay employees poorly fall into one of three industries: retailers such as Walmart and Sears, restaurant chains such as McDonald’s and Yum! Brands, and grocery stores such as Kroger. These industries are customer-facing and rely on a fleet low- and minimum-wage workers to take orders, stock clothing and goods and wait tables. “The service sector across the board — the retail and restaurant industries — those are the core of the low-wage labor market,” explained Jack Temple, policy analyst at the National Employment Law Project (NELP). To reinforce the argument that the low wages these companies are paying are unfair, Temple points to the large compensations most of the chief executive officers at these companies receive. CEOs at nine of these 10 companies are paid more than $10 million annually, while Michael Duke and Howard Schultz, CEOs of Walmart and Starbucks, each receive more than $20 million per year. Perhaps a fairer measure that may indicate whether a company can afford to increase its employees’ wages is the profitability of these companies. Net income in all but one of these companies has increased over the past five fiscal years. Kroger’s net income more than tripled since fiscal year 2008 to nearly $1.4 billion. Sears’ net income, on the other hand, has declined significantly during that time. The company recorded a net loss of $930 million this year. Temple explained: “Low-wage companies have choices. They can continue making a lot of profits, and can continue paying their CEOs an incredible amount of money by paying low wages to their employees. But they have the resources to operate profitably and pay high wages as well.” Read more: http://www.huffingtonpost.com/2013/11/16/companies-pay-americans_n_4288090.html
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