Posted on 11/06/2014 5:59:26 PM PST by Paul R.
middle class savings are pretty much wiped out
Some future president will have to take the heat for trying to start paying down the debt... which will require the dreaded cuts in spending.
Fast food chains are going to add more technology (think kiosks), now that they will be forced by government to raise wages of under performing employees.
THE WALL STREET JOURNAL
Wendy’s Unveils Cost-Cutting Plans Amid Disappointing Results
Company Swung to a Profit in its Third Quarter, But Results Were Below Wall Street Expectations.
By
Chelsey Dulaney
Updated Nov. 6, 2014 8:29 a.m. ET
Wendy’s Co. unveiled a cost-cutting effort on Thursday to save up to $30 million as the fast-food chain faces record-high beef costs and pressure from the implementation of the Affordable Care Act.
Wendy’s said the effort will involve its U.S. field operations and restaurant support center in Dublin, Ohio, and anticipates the effort will cost between $20 million and $25 million. Coupled with its plan to sell all 135 Canadian company-operated restaurants to franchisees announced in August, the company expects the effort to reduce its general and administrative costs by about $30 million by next year.
Wendy’s said it plans to reinvest its resources in consumer-facing technology.
I think the peak in the standard of living for working people came about the time Nixon was reelected. College graduates who can find a job now are mostly taking jobs that a high school graduate would have laughed at fifty years ago. Jobs that would have been done by a high school dropout back then now REQUIRE a college degree and most recent college graduates could not pass the entrance test for high school from back then, forget about high school finals.
Some may think I exaggerate but I speak from first hand knowledge. How can people think we are economically so much better off now when fifty years ago young men used to finish high school, go to work and become married homeowners with children by the age of 22 WITHOUT GOVERNMENT ASSISTANCE and most 22 year olds now don’t have a clue how to survive on their own. Hell’s bells, there are plenty of 32 and even 42 year olds who don’t have a clue how to survive on their own now. We are living in a fantasy with all these tales of how people are doing so much better now, shut down the government redistribution and over half the country will be looking for something to steal.
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