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re: Fast food prices are legitimately insane and untenable; corporations panic
Posted on 5/30/24 at 2:09 pm to BK Lounge
Posted on 5/30/24 at 2:09 pm to BK Lounge
quote:
Even scarier is that many, many posters here believe that inflation is controlled by Brandon…. Since inflation is currently a persistent problem all over the world- i sure wish those geniuses would tell me exactly how Joe Biden controls the GLOBAL inflation and economy .. and for the love of god i wish they would be specific .
Doesn't really matter; if it's happening under your watch, it sticks to you. That's been the case for sitting presidents for decades now.
0
Posted on 5/30/24 at 2:14 pm to Dairy Sanders
quote:
Are they not suppose to want to increase their income? The workers did the right thing: they asked. If you don’t ask, you don’t get. The companies made their choice. And before you mention the minimum wage laws in certain cities and states, laws and regulations change all the time, some make it more business friendly, some are neutral, some are less business-friendly. They can make a choice based on new information and their new reality.
I’ll never understand why people hate on others wanting more compensation from their employers. Salary increases have been a fraction of the price increases due to inflation. Honestly, minimum wage should be tied to inflation but that’s another discussion altogether.
Sure, they are. If the market supports it, and these workers provide $20/hr worth of service, then great. It will do fine. If not, then it crumbles.
Posted on 5/30/24 at 2:35 pm to BK Lounge
quote:
Even scarier is that many, many posters here believe that inflation is controlled by Brandon…. Since inflation is currently a persistent problem all over the world- i sure wish those geniuses would tell me exactly how Joe Biden controls the GLOBAL inflation and economy .. and for the love of god i wish they would be specific .
Maybe because governments around the globe locked us in our houses for two years and printed a metric frick-ton of money (Brandon and Donnie from Queens included) to prop up the economy.
Posted on 5/30/24 at 3:00 pm to TIGERHOLD
quote:
Mr “christian conservative” CEO Dan Cathy stopped all donations to Christian charities, groveled for BLM/Antifa, and hired a DEI director.
- Dan Cathy isn't CEO
- Chick-Fil-A gives tons of money to Christian charities
Posted on 5/30/24 at 3:10 pm to TejasHorn
quote:
Restaurants charge what the market will bear. And the latest projections are a record year in sales and profits, after a record year in 2023.
The market will bear a lot more profits as long as restaurants have the ability to hide behind the inflation excuse. Inflation is a factor, but these record profits across numerous industries has a lot more to do with price gouging and exploiting the opportunity presented by "inflation" constantly being in the news.
People are paying these prices now because they don't see McDonald's as the bad guy, they see Biden or the economy as the bad guy. Food prices have been relatively stable the past year, only small increases. The public is too dumb, in general, to recognize fact from fiction.
If they knew the truth they would, rightfully, see McDonald's as the bad guy and reason they're paying $12 for a shitty combo meal. When/if that happens, it won't work out too well for McDonald's.
We're surrounded by fricking crooks.
Posted on 5/30/24 at 3:12 pm to td01241
quote:
Companies are now panicked now that people are widely done with their bullshite prices with worse food quality and service and looking to find ways to bring back value meals
They are doing it to themselves. No need to raise the prices like they have
It happened in the fishing world too. I had vendors who went crazy with the price increases over the past three years. I found alternative places to buy materials that were not as high but had good materials
Now these asshats are calling me wanting me to come back to them. Its not gonna happen unless my new vendors flake out.
Posted on 5/30/24 at 3:15 pm to elprez00
quote:
This. All of this. I wonder if anyone has done a correlation between companies that have had insane price increases with companies that have had insane pay increases. Or did you people really think McDonald’s was just going to eat paying their people $25/hr?
How come y'all always ignore profits when talking about labor driving higher menu costs? If the labor were the driver for higher menu prices, profits would be flat. Profits are through the roof.
Posted on 5/30/24 at 3:16 pm to mmmmmbeeer
quote:
How come y'all always ignore profits when talking about labor driving higher menu costs? If the labor were the driver for higher menu prices, profits would be flat. Profits are through the roof.
You adjust those profits for inflation?
Posted on 5/30/24 at 3:31 pm to LNCHBOX
quote:
You adjust those profits for inflation?
You may disagree with me on damn near everything, but you hopefully recognize I'm not just a fricking idiot. Yes, inflation is considered. As an earlier poster mentioned, profit margin is what we should be concentrating on but regular people just use "profit" as a catch-all.
Here is their margin history. They're fricking robbing their customers blind.
Posted on 5/30/24 at 3:36 pm to mmmmmbeeer
Most people don't get this.
Is it better to make 10% on $10M, or 2% on $1B?
Is it better to make 10% on $10M, or 2% on $1B?
Posted on 5/30/24 at 3:40 pm to N2cars
quote:
Most people don't get this.
Is it better to make 10% on $10M, or 2% on $1B?
How about 10% on $1B?
McDonald's isn't run by Sam Walton, running the business like a wholesaler on slim margins.
Posted on 5/30/24 at 3:41 pm to mmmmmbeeer
quote:
You may disagree with me on damn near everything, but you hopefully recognize I'm not just a fricking idiot. Yes, inflation is considered. As an earlier poster mentioned, profit margin is what we should be concentrating on but regular people just use "profit" as a catch-all.
Here is their margin history. They're fricking robbing their customers blind.
One would think margins would need to be larger if inflation reduces the value of the profit, right?
Posted on 5/30/24 at 3:47 pm to LNCHBOX
quote:
One would think margins would need to be larger if inflation reduces the value of the profit, right?
Margins are a ratio...they're agnostic to inflation. This is precisely why it's wiser to look at margins than gross/net values.
If I'm operating at 55% of revenues going to operating and capital expenses one year and only 45% the next, my profit MARGIN jumped 10%. I'm making 10% more dollars, regardless of how many dollars we're talking about, than I was the year before.
Could be $500,000 more or could be $50,000,000 more...doesn't matter, it's 10% more of my revenue resulting in straight profit.
Posted on 5/30/24 at 3:48 pm to mmmmmbeeer
quote:
Margins are a ratio...they're agnostic to inflation. This is precisely why it's wiser to look at margins than gross/net values.
If I'm operating at 55% of revenues going to operating and capital expenses one year and only 45% the next, my profit MARGIN jumped 10%. I'm making 10% more dollars, regardless of how many dollars we're talking about, than I was the year before.
Could be $500,000 more or could be $50,000,000 more...doesn't matter, it's 10% more of my revenue resulting in straight profit.
Props on totally not understanding what I said.
Posted on 5/30/24 at 3:50 pm to mmmmmbeeer
I'm aware. It was just an example.
Lets say supplier costs increase by 10%.
If you pass this cost increase on to your customers as a direct 10% increase in the retail price, you are likely raising their cost by 30%.
This is a technique as old as time, and savvy buyers are on to that crap. (Not fast food consumers)
Lets say supplier costs increase by 10%.
If you pass this cost increase on to your customers as a direct 10% increase in the retail price, you are likely raising their cost by 30%.
This is a technique as old as time, and savvy buyers are on to that crap. (Not fast food consumers)
Posted on 5/30/24 at 3:52 pm to N2cars
quote:
I'm aware. It was just an example.
Lets say supplier costs increase by 10%.
If you pass this cost increase on to your customers as a direct 10% increase in the retail price, you are likely raising their cost by 30%.
This is a technique as old as time, and savvy buyers are on to that crap. (Not fast food consumers)
Totally agree....I misunderstood your comment. You're spot on....never let a tragedy go wasted kinda deal
Posted on 5/30/24 at 3:53 pm to LNCHBOX
quote:
Props on totally not understanding what I said.
You don't understand the relationship between margin and its agnostic relationship to outside factors like inflation. That's on you, dude. I tried to explain.
Posted on 5/30/24 at 4:01 pm to mmmmmbeeer
quote:
You don't understand the relationship between margin and its agnostic relationship to outside factors like inflation. That's on you, dude. I tried to explain.
Apparently I will need to dumb this down for you. Let's say last year your profit was $500k with operating expenses of $1 million. Your profit margin is 50%. Year over year inflation is 10%. To break even, your profit now needs to be $550k, which means your margin would need to be 55%.
So no, just looking at margins does not in fact account for inflation.
Posted on 5/30/24 at 4:05 pm to LSURep864
The quality aspect is a problem in many areas, especially with food, and I think it's so pervasive that it affects people's personalities. I see people in too much of a hurry sometimes seemingly just because they think that's how they should be. Doing something "fast" is applicable at times, but not at others.
Some things take time to get to a point of quality.
Businesses aim to continually increase profits by going fast, and using cheap ingredients (or parts on products). Mindless consumerism perpetuates the cycle and rewards businesses for low quality.
Some things take time to get to a point of quality.
Businesses aim to continually increase profits by going fast, and using cheap ingredients (or parts on products). Mindless consumerism perpetuates the cycle and rewards businesses for low quality.
Posted on 5/30/24 at 4:31 pm to td01241
Have incomes not risen as well???? Seems thats the real issue
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