All Things Economic

At fun 4.. what guitar did you get?

@Fun 4..

I picked up a D6-58 120 Watt Acoustic Guitar/Multi-Chan Amplifier last year and love the thing. It gives my Fender '65 Twin Reverb Neo a run for its money..

Hey 5 good to see y’all again . I bought another guitar . Looking at another Amp from EAE there in California ..US made .

Did y’all see that Trump has said if he is elected he will not tax tips given to service workers ……This is big . . ….

@5

Thanks for responding the way I suspected you would.

When I had a company with 15 employees, I realized that success was not 100% me. It was the 15 others as well.

When I had a company with 1100+ employees, I knew that success was not 100% me. I realized that success was mainly NOT me. That person who came in the middle of the night and did all the cleaning and prep for the next day was as important to the mission as the person who came in after and did work.

Like @5, we paid well. One of the roles we had, historically paid min wage. We had about 400 people in that classification. Did we pay min wage? Nope. We paid 20% more. Did it 'cost' us money? Technically yes. Technically we spent 20% more labor for that position than we needed to. What we got was people who were happier. We got greater productivity. We got people who if were asked to stay late, even though they would get overtime, never said NO. That was worth the 20% bump in cost.

So again . . . why complain when your fellow citizens get a raise? I don't understand that.

“I think it’s probably a bad idea, and most economists do,” Denslow said. “But on the other side, it makes us look so stingy and mean-spirited that it’s not worth fighting.”

Most economists do not, actually, especially not the ones not wedded to conventional thinking. If you look at actual data, they suggest something very different. Plus, as EA points out, that point of view elides how taxpayers indirectly support low wages in many large corporations. It's cheaper to pay workers directly than to have such high numbers of fully employed adults living below the poverty line and in need of a raft of public services and support.

@ Amazon..

All of my partners are important to me or they wouldn’t be employed I’m my companies. Employment in my business is a bi lateral contract. All aspects are laid out in writing and in a face to face interview. We find out their expectations and they find out ours. We do not hire on the spot.

We want every candidate for every position from janitorial, mechanical, construction related, mid level managment and above are interviewed by me. I am the final approval for EVERY advancement including family who are the back bone of the 3 business. 60% of the employees are POC or women.

We do not hire per any DEI standards EVER. The most qualified for the position is 95% of the time hired regardless of the alphabet, race, color or creed. We frown on applicants that are looking for attention by either their lack of respect for themselves or the position they are applying to. We do not hide this, and we have been tested in court several times with every resolution to the positives for our business. We don’t care what or who you do in your personal life but the moment you bring it to the company, we don’t have a 3 strike rule. Yes there are times people make mistakes and we treat each instance individually.

You come to us to earn a living and to make our companies more profitable and prestigious and to find a profession with a company that has values of 50 years ago. We share in our profits. EVERY partner gets a review annually. Again, I do all of the management personally. No one is advanced without making advancement to these three companies. Not even the 9 family members that are building this for theirs and future family and partners benefit.

I will tell you honestly… no one who has been with these companies for 5 years or more makes less than 125K. We offer a pension 70% medical and bonuses in management.

But you don’t have a chance anywhere here with us if you become or will become a reason that we go backwards and not forward. I had a very disheartening meeting with one of my long time people while visiting the office this last month. Let me tell you. If I am calling you in with divorce (from the company) no excuse will change my mind.

I don’t believe in the bullshit that others allow in their businesses. We do not negotiate with terrorists and we have triumphed in every employment suit that has been brought to our door by a disgruntled employee. ( 9 suits in 27 years) we just passed our 550 mark for partners at our businesses in April… We must be doing something right.

Quote the whole article. You can clip all you want, but context is everything.

palmbeachpost. com/story/business/2013/02/18/minimum-wage-leg-up-from/7072415007/

Want to get into the discussion of wealth distribution? Let's look into that. BTW, I feel sorry for you. IMO, you must be so completely insecure in yourself that you feel compelled to look down at people who do not earn as much as you. How judgemental. I suspect that 5looking will agree with this statement . . . were all of their employees valuable? Without the person that did the lowest level shit that got paid the least amount, their business would have had some problems. Of course, there are some positions that require a higher level of talent, but it is a collective.

But back to redistribution.

Who is one of the largest companies that redistribute wealth? It is Walmart. Why? It's not the way you think it is. Walmart pushes expenses from its revenue to the government. cnbc. com/2020/11/19/walmart-and-mcdonalds-among-top-employers-of-medicaid-and-food-stamp-beneficiaries.html That is ONE way that Walmart redistributes wealth. They pay lower and force others to pay taxes to support their employees. Then, Walmart also, because they do not want to invest in security guards or systems, overburdens the local municipalities police department. kansascity. com/news/local/article175722651.html ilsr. org/wp-content/uploads/2008/12/bbtk-factsheet-policecosts.pdf and here is something closer to home for you: projects.tampabay. com/projects/2016/public-safety/walmart-police/

Now, as FLORIDA by raising min wage, they have worked on some of the calls going down. Will the call come in for the guy that drank a 98 cent drink and didn't pay for it? Yeah. Will the call come in for the person who $50 worth of clothing? Probably not because those are the ones that are dropping.

While we are here . . . and some people who LOVE to bash CA. Are you OK with the cops being called to arrest a person for stealing a 98 cent Iced Tea, then putting the person through the court system and potentially in jail? Be careful how you answer. If you say yes, here is the response . . . congrats, your taxes just went way the hell up. That theft will incur tens of thousands of dollars of expenses.

<p>"<span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">Fortunately, I did attend UF and did learn from people.clas.ufl. edu/denslow/"</span></p>

<p>"<span style="color:rgb(48, 48, 48); font-family:georgia pro,georgia,droid serif,serif; font-size:18px">University of Florida economist David Denslow, a registered Democrat, thinks raising the minimum wage is a misguided policy, a &ldquo;blunt tool&rdquo; that misses its mark of helping workers at the bottom of the income scale by redistributing wealth from affluent business owners."</span></p>

<p><span style="color:rgb(48, 48, 48); font-family:georgia pro,georgia,droid serif,serif; font-size:18px">&ldquo;I think it&rsquo;s probably a bad idea, and most economists do,&rdquo; Denslow said. &ldquo;But on the other side, it makes us look so stingy and mean-spirited that it&rsquo;s not worth fighting.&rdquo;</span></p>

<p><span style="color:rgb(48, 48, 48); font-family:georgia pro,georgia,droid serif,serif; font-size:18px">Above is from an article in the The Palm Beach Post. Search for "</span>denslow on minimum wage".</p>

@ Amazon. “ I thought AmEx changed the program and it is the calendar year. So if I spend 75k by Feb 1, 2024, that gets me all of 2024 and all of 2025 with lounge access.”

Because we have both a business Delta Platnium & 2 personal ones. The business one covers the lounges for us but as far as I have been able to find out you have to pay $100.00 per guest. But neither here nor there. We do enjoy the interest befits we receive having clean credit score.

Just spent the last month in The Villages. Thought about you when we’re were at the Crystal River. Did a couple of grand kids graduations and parties. Hit St. Augustine for a day a couple of times. Spent a cozy weekend at Ana Maria Island with some friends. Spent a little time in Winter Park at the office and meeting new employees. One of our clients flew us down to Key West from Sarasota. I gotta tell ya KW is quickly losing its luster.

We left yesterday morning right before the rain started. We had one event of down pours the whole time we were there so the universe was cooperative.

Haven’t seen you around in a while.. not that I have been here much at all myself. Understanding retirement is actually setting in this time I think.

The Federal Reserve left interest rates unchanged and signaled only one cut by the end of the year.

Good. I'd still be hawkish until 2025. There is no need to cut rates anytime soon.

Wayne,

Your 'hidden agenda' argument is so ignorant. It is such a cliche. Fortunately for the rest of the world, you are not in charge of wages for people.

If you want to get into it, no problem, but the result will still be that your opinion is not backed up by reality.

Technically, the bottom 10% is always the bottom 10% regardless of the number in any scenario. As an example, the bottom 10% of sales rep, even if they are replaced, the company will still have 10% that are in the bottom of production. But where your 'agenda' is so messed up is that it squeezes the difference between the bottom 10% and the middle range.

Fortunately, I did attend UF and did learn from people.clas.ufl. edu/denslow/

<p>"<span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">IMO, this is a good thing as it is starting to push the bottom up."</span></p>

<p><span style="color:rgb(0, 0, 0); font-family:open sans,sans-serif; font-size:14px">It pushes everything up. The person at the bottom will still be at the bottom. Make the minimum wage $10,000 per hour and people making $10,000 per hour will be the poor people.</span></p>

@8

That is the point. The gov benefits are the best. Do you think an 18 year old who was not college material thinks about that at all? Do you think given the choice of putting your life on the line or having a Karen yell at you that the 18 year old would take the Karen over the bullet? How much more is your life worth? Is it worth $5 more an hour? That 18 year old may not be college material but knows the difference between what is right in front of them on this choice.

Fast food wages are pushing other wages up. It is a bottom up approach. Do janitors leave to go make more flipping burgers? Do gardeners leave to go make more flipping burgers? Do low end admin jobs get a raise because they can say, "I'll go work at McDonald's for more." IMO, this is a good thing as it is starting to push the bottom up. We have learned that the trickle down economic theory is bullshit.

"Do I go flip burgers for 42k a year or do I become a cop for 50k a year?"

That's just starting. The police in my city do some large jumps between yr 1-2 and the next few yrs. I know an officer, not a Lt. or Capt, an officer, in my county with about 23-24 yrs. She's making 120k.

City, state and Federal jobs in LE and "criminal justice" fields pay very well.

That's a chuckwagon gravy trail that you don't wanna leave. Why wouldn't a pencil and paper pusher stay for the 30 yrs?

The government teat has the sweetest milk!!! I've been drinking the milk off/on for most of the past 32 yrs. From the cradle to the grave!

Fast food is a shitty job.

I worked fast food for about 12 years. Worked Wendy's, Burger King, but mostly Jack in the Box.

Did it all. Employee, Manager, Training Manager. Won Franchise Manager of the year three times. Opened the first JIB on a military base (MCRD in San Diego).

Sure, it is fun. But it us also nights weekends, for managers sometimes 24 hour shifts.

Working on a 375 degree grill when it is 110 outside and the AC just took a shit.

Burns, cuts, muscle pulls.

All for $25k a year at the time.

@8inch

Yes, that is a huge issue here in CA. It creates issues that most people do not think about.

Because of that wage, employees have a choice. Do I go flip burgers for 42k a year or do I become a cop for 50k a year? Guess what most people choose :) Do I go work at Panda Express when, if I am there for 3 years I can become a manager and get 82k a year or do I go become a border agent, start at the 60k range and in time get to that 82k a year range?

There are problems getting people to take jobs that risk their lives when they can make a little less or the same by saying, "Would you like fries with that?"

foxbusiness. com/lifestyle/in-n-out-raises-california-prices-response-minimum-wage-hike

"Starting wages at In-N-Out in California range from $22 to $23 per hour, based on location, which is slightly higher than the mandated minimum wage, according to KTVU.

Under the law, the minimum wage rose from $16 to $20 an hour for restaurants that have at least 60 locations nationwide, except those that make and sell their own bread. This equates to an annual salary of $41,600."

Don't care about credit score anymore, I'm done borrowing money and using credit (other than my monthly cc bill)

Dang. I derped. Tooooo many financial statements being worked on.

I should have not typed 'fiscal year.'

I thought AmEx changed the program and it is the calendar year. So if I spend 75k by Feb 1, 2024, that gets me all of 2024 and all of 2025 with lounge access.

"I also learned that car dealerships will not take credit cards for a purchase :) I went to buy a Lexus and whipped out my AmEx. They would only take 5k of the purchase on the CC. Oh well, the game of collecting miles was thwarted!"

I tried the same thing. Was trying to secure a car in Chicago. So, I wanted to put 10k on it til I made it down there a few days later. They wouldn't let me. Saying that I couldn't use a card to purchase a "used" (900 miles) car. But the dealer here in my state let me put 1k on it for the deposit. Glad the fools in Chi wouldn't let me do it. I ended up with a better deal on a car with 20 miles on it, and the color that I wanted.

Missed a few hundred bucks in points, but oh well. I use the card for just about everything I buy. Gas, groceries, restaurants, you name it. Pay it completely off. Bought a $1k TV last yr using points. They have their games, I have mine.

Haven’t traveled Delta for years . We just don’t like em . Use United / Alliance they are ok . Royal Dutch KLM is good but really love Singapore Airlines. …..My wife works the air miles CC with FIDO . I don’t know if it is the best . It works .

I thought AmEx changed the program so that if you spend 75k annually, you are covered for that fiscal year and the next one in Delta lounges.

30 years ago, I used to spend 150 to 400k a month on my Amex Green card. I loved those miles. I wound up with over 5 million miles before I didn't need to spend that much anymore. It took me a while to go through all the miles, but we did :( They offered me a Black card and I turned it down. At the time, all the benefits, I didn't care about. I also told the rep, the problem with the black card is if I go to a sub shop and get two subs for $15, they will expect a $100 tip because I whipped that card out. She had no response for that.

I also learned that car dealerships will not take credit cards for a purchase :) I went to buy a Lexus and whipped out my AmEx. They would only take 5k of the purchase on the CC. Oh well, the game of collecting miles was thwarted!

In regards to credit scores, they only have value if you want to take on debt. If you don't care to take on debt, the value is moot. I dislike how companies have made your credit score like some sort of video game where you are competing. To me, that is unhealthy.

A smart person once taught me something. Your credit report shows your wanting to pay. Your tax return shows your ability to pay. What are you more concerned with?

Yes, I still qualify for the pass, so far. I get the reason why the airlines are getting more restrictive these days, as the lounges have started to get a bit too crowded. I rotate carriers depending on the itinerary I want, but I agree with you that the Delta lounges are more consistent as far as quality over various airports. I also make sure that no matter what carrier I use, I qualify for their lounges, Admirals Club, United Club, Centurion, Air France/KLM, etc.

The Annual fee increase increases the challenge to make it cost-effective, but with all the credits, promotions, and perks, it works for me.

Even with the Million Miler Status they they started screwing with the MQDs and have shut out Platnum from the Delta Lounges. I still get it because of the business card but it pisses me off that if we are traveling with friends you can no longer get them in even wit the $50.00 charge. I know there are several other lounges but I have had Delta for almost 14 years so I don’t know who has a better one.. The individual card has gone up to $695.00 a year. Are you getting a yearly companion pass for at least one round trip nationally or one way international?