I’m a veteran and I would put the NHS on par with what I receive at the VA. My father’s family are all Scottish native and or Scottish immigrants and I can attest to this comparison. Having Healthcare is absolutely better than NO healthcare.
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Apple Retail Employees Getting Smaller Raises of Approximately 4% in 2023
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Reasonably if the company is loosing money the pay cut comes from the TOP. Floor level employees have little to do with a companies strategies and profitability.
So if anyone is taking a pay cut, it should be from the top.
Profits Without Prosperity
Reprint: R1409B Though corporate profits are high, and the stock market is booming, most Americans are not sharing in the economic recovery. While the top 0.1% of income recipients reap almost all the income gains, good jobs keep disappearing, and new ones tend to be insecure and underpaid. One...
hbr.org
I guess you didn’t go to Harvard. Because they have extensive legal and real world analysis on why buy backs are completely a tactic companies used to manipulate market share, and stock price.
Not sure how many people in the world could build Apple to the point they are now. Exceptional talent garners exceptional value (pay) to match.
Profits Without Prosperity
Reprint: R1409B Though corporate profits are high, and the stock market is booming, most Americans are not sharing in the economic recovery. While the top 0.1% of income recipients reap almost all the income gains, good jobs keep disappearing, and new ones tend to be insecure and underpaid. One...
I guess you didn’t go to Harvard. Because they have extensive legal and real world analysis on why buy backs are completely a tactic companies used to manipulate market share, and stock price.
Harvard doesn't have an official position on buybacks lol. This is the opinion of one of their professors and there is plenty of room for disagreement with this article (I'm sure from some of his colleagues in HBS as well). Stock buybacks can definitely be the wrong move for some companies in certain situations but the idea that they are categorically bad and obvious manipulation is a fringe opinion. Do you think dividends constitute stock market manipulation?
Inflation is definitely over that, otherwise the FED wouldn’t have just said that they’re going to do one more rate hike this year
Your first assertion is just not true at all: https://www.nytimes.com/roomfordeba...rs/corporations-dont-have-to-maximize-profits
As for your second assertion, I highly doubt anyone is simply pushing a button in the Apple Store making at the top end of the salary range. Those salaries are likely reserved for the specialists repairing devices in the back room.
Either way, in many urban areas this pay is not great. It’s fine where I live in the Midwest, but the cost of living here is very low. My 3000sqft house cost about $250K back before the pandemic. Now it costs over $400K when looking at comparable sales in my neighborhood. Housing costs are making a lot of these wages unsustainable. Rentals are pretty crazy nowadays because AirBNB and VRBO have destroyed the market, especially in more urban areas on the coast and other big cities. Although out here there is not really infrastructure for public transit, much less sidewalks and bike lanes. And the cost of used cars is ridiculous. I’m fortunate enough to have worked remotely since before the pandemic, but there is no way I could walk to a job in this town. I’d be mowed down on the side of this two lane road with no shoulders and 55mph speed limit. We already know someone who died on their bike.
“In American business, especially, one key theory says that the purpose of corporate enterprise is to “maximize shareholder value.” Some take this even further and claim that such value maximization is the only reason a corporation exists. Watch CNBC or Fox Business News long enough and you’ll begin to believe this is the God’s truth, but it’s not. It’s just a theory.
It’s not even a very old theory, in fact, only dating back to 1976. That’s when Michael Jensen and William Meckling of the University of Rochester published in the Journal of Financial Economics their paper Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure.”
The U.S. computer industry is dying and I’ll tell you exactly who is killing it and why | I, Cringely
We've lost consumer electronics, half of the automotive industry, millions of manufacturing jobs, and we're about to lose our computer industry, too.
www.cringely.com
…
You do realize the price of the stock doesn't mean Apple gets more or less money right.
This is interesting. 10% raises are unheard of in tech, even when getting promoted into a new role. In fact, I’ve generally seen 3% as the norm across FAANGs unless someone (or their division) is either highly overachieving or underachieving.
That said, retail folks are not tech workers and minimum wage in the US is anything but. For reference, McDonalds was offering $25,000 sign-on bonuses post Hurricane Katrina so there’s clearly room for growth. These folks are generally undervalued and underpaid, but salary is only one component of their total compensation. How does their whole package look (e.g., health benefits, education benefits, employee discounts, paid time off, etc.)? Is it equitable and competitive?
That said, retail folks are not tech workers and minimum wage in the US is anything but. For reference, McDonalds was offering $25,000 sign-on bonuses post Hurricane Katrina so there’s clearly room for growth. These folks are generally undervalued and underpaid, but salary is only one component of their total compensation. How does their whole package look (e.g., health benefits, education benefits, employee discounts, paid time off, etc.)? Is it equitable and competitive?
That's the BLS data for the CPI nationwide.
Whether or not an individual's expenses are similar to the CPI will depend upon where they live.
Whether Apple ought to give raises according to the CPI national figure is something I'm sure the Apple HR department debates.
Yada yada. If you think you are worth more elsewhere, go there. I made my choices and retired earlier than many. I’m glad for the choices I made even though I’m now kinda old. Not a fan of being old.
Exactly: increase illegal immigration to depress wages; indiscriminately pump money into the economy to increase inflation; push environmental alarmism to raise the price of energy, spend more money on bad energy, and raise the price of goods and services (both in real terms and as a byproduct of inflation; destroy all the communities which have traditionally provided support and purpose. When all of this has the predictable (and predicted) results, blame the rich and then institute more policies which further inhibit the economy.
Translation “I got mine, dont care about anyone else”. Such a bad take, why do you think people shouldnt fight for more at their current job?
How much is inflation? If it doesn’t beat inflation, it’s not a raise
The executives get more money. A lot of their pay is in shares
Sorry, I guess I’m new to this. I know that dividends are a predetermined payment per share to each shareholder, so that doesn’t seem like market manipulation and it seems pretty obvious how that benefits the shareholder.
But I don’t see in your explanation how the buyback benefits you as a shareholder. You say you had $10 of value pre buyback, but for your after buyback example you say you then have 11% of $90, which would be $9.90.
You did mention it being tax efficient, so are you taking the 10 cents loss as a write-off?
The dividend seems an obvious net positive, but I don’t see the positive in your example. Did you leave out some detail that causes you to have more value?
why shouldn't the people that do the work get the money?
the entire relation between profit and labour has gone even more completely out of wack than it already was since Raegan legalized stock buy backs
4% pay raise is too much. Those pay raises fuel inflation. Wages in the US are much too high. They need to go down.