Thursday, December 13, 2012

A society doomed by greed

Is the future healthy when one company's CEO draws a larger salary between breakfast and lunch, on one day, than a loyal 20 year employee earns in a year? Well, during the four hours that a long time McDonald's crew person earned $35, his boss gained $16,827. We might assume it was through better productivity, as in faster delivery of sugar and fat laden factory foods.

Information empire Bloomberg draws a sad portrait of a sick western society. Remember, Bloomberg is not the organ of the Occupy movement; these are guys who plead for the free market variants of capitalism.
"Tyree Johnson scrubs himself with a bar of soap in a McDonald’s bathroom and puts on fresh deodorant. He ...hops on an El train. His destination: another McDonald’s.

"Johnson isn’t one of Chicago’s many homeless people who seek shelter in fast-food joints. He’s a McDonald’s employee, at both stores -- one in the Loop, the other about a mile away in the shadow of Holy Name Cathedral.

"He needs the makeshift baths because hygiene and appearance are part of his annual compensation reviews. Even with frequent scrubbings, he said before a recent shift, it’s hard to remove the essence of the greasy food he works around.

“ 'I hate when my boss tells me she won’t give me a raise because she can smell me,' he said.

"Johnson, 44, needs the two paychecks to pay rent for his apartment at a single-room occupancy hotel on the city’s north side. While he’s worked at McDonald’s stores for two decades, he still doesn’t get 40 hours a week and makes $8.25 an hour, minimum wage in Illinois.

"Johnson would need about a million hours of work -- or more than a century on the clock -- to earn the $8.75 million that
McDonald’s, based in the Chicago suburb of Oak Brook, paid then- CEO Jim Skinner last year...

McDonald’s, for example, spent $6 billion on share repurchases and dividends last year, the equivalent of $14,286 per restaurant worker employed by the company. At the same time, restaurant companies have formed an industrywide effort to freeze the minimum wage..."
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7 comments:

  1. Slavery is alive and well in Canada and the US.I dare anybody to prove me wrong.

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  2. It is true. Even Obama has decried the "Right to Work" legislation, in the US as a form of union busting, and even worse, corporate coercion to reduce wages, benefits and being able to fire without just cause.

    Capitalism at its finest, 23 states so far have enacted this legislation in one form or another. Really sick... "Industry wide effort" indeed, ask these clowns, who will be going to restaurants in 20 years, no one will have the money.

    Pure greed and manipulation. Serfdom returns to North America. Can't possibly "enable" the socialist horde's from trying to improve their lives...

    Its also happening in Canada, albeit at a slower pace. Seems the capitalists here, are having a harder time dealing with the legislators.

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  3. We are being driven by the elites (haha) to a society without a middle class. The only other time in history that this has happened was the middle ages.

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    Replies
    1. As we trend toward greater inequality, where is the trigger point for civil unrest?

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    2. In some of the European countries, it's already started. In North America, I'm sensing it's very very close, as people reach their breaking points when it comes to corruption and the overall corporate structure that benefits the very few.

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  4. Since extreme wealth is the new normal, I suspect that the average Canadian will not take this and worry about it. The more money, the more successful is still accepted as the target of the middle class. When the target changes to say, owning furniture is special, then we will see breaking points. Unfortunate but true IMHO.

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  5. I beleive the "breaking point", is very close if not here now. The "middle class", is disappearing quickly with each "shock" to the financial system, worldwide. Canadians, while we have "lucked out" so far, are not immune to global events. Corruption, as we are now seeing both corporate and in governance, is only creating, a more questioning and disgusted public, that will eventually take action, as their only recourse. What other choice do they have?

    Europe is only the start, of a worldwide "malaise" that will most likely sweep the globe, over the next 20 years. A new and "enlightened" generation, will be left, to pick up the pieces, of our current corrupt, greed ridden and decrepit, economic and political systems in the future.

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