Irony Alert: Payers of Low Wages Complain about Low Wages
Excepts from the summary, focused on Irony, follow:
Center for American Progress
Stagnant wage growth are holding the economy back. We use the financial statements, known as 10-Ks—the annual report required by the Securities and Exchange Commission, or SEC—of the top 100 retailers in America…
Looked in the mirror recently to determine the problem?
“decreased levels of consumer spending” (Kohl’s), “a renewed decline in consumer-spending levels” (Sears), and “decreased salaries and wages” (Burger King) could have a huge negative impact on their financial performance.
Probably deficit hawks, and austerity bigots too. I wonder how closely they’ve looked at the executive expense….
Eighty-eight percent of the top 100 U.S. retailers cite weak consumer spending
as a risk factor to their stock price.
The other 12% only sell to the 1%, so they are not hurting
Sixty-eight percent of the top 100 U.S. retailers cite falling or flat incomes as risks.
Next Amazon will be complaining their predatory business model is failing…
Well congratulation retailers, where were you when all the well paying jobs went to China? Forcing suppliers to cut prices and move to China perhaps? Supporting trade treaties which enabled and encouraged outsourcing?
Retailers are not banks. No Government bail out for you.
A question for these Republican Retailers:
Would you support Unions, drop Austerity, erect Tarriffs, abrogate the trade treaties: NAFTA, CAFTA, TPP, TTIP and TISA, and lobby the Federal Government to fix our infrastructure (good jobs, money in the bottom 50%, more sales), all to fix you bottom line?
Yes or No?
Photo by Nicholas Eckhart under Creative Commons license