Sirwalterraleigh
Premium Member
Wawa already passed that mark…unless you want a shortie
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- Thread starter wdwmagic
- Start date
A good parallel to it is Chick-fil-A. Operators there make in the 120-200k range I believe. I think it is harder for people to wrap their heads around the volume a buc-ees outputs than a Chick-fil-A because no one is idling outside of it in a line for 30 minutes.
Now I'm wondering...how high will the workers (cm's, housekeepers, etc) the cost of health benefits be?...working for the City, we just completed our "negotiations" and when it was said and down the raise was eaten up by our "health benefits". Now we have a "deductible" program...I was shocked at the prices City families have to meet...and never informed it would be that high...
Patcheslee
Well-Known Member
Someone mentioned it changed as well on another site.
Is it a "high deductible" program? Ours got switched about 5 years ago to one. Absolutely hate it. Company quite contributing $600/year to employees half of the premiums last year, so deductible for family is $12k, and paying $48/week. I pay more in premiums than I do the medical bills themselves.
To follow up on this, one of the unexpected consequences of Covid is the number of Baby Boomers who had been putting off retirement decided better now than ever. We are talking millions of employees, with decades of experience and knowledge. The economy is still feeling the effect over these losses.
Sirwalterraleigh
Premium Member
Which is exactly what I was referring too…
Every economic organ is a “ladder” (if you’re kind…a “pyramid” if you’re cynical)
…so it’s all top down/bottom up movement
Top down is rare…but that’s what happened when boom retired. A vacuum sucking people upwards.
I mean…they can’t get school teachers…which is contrary to everything post industrial.
Usually it’s the opposite…the bottom crashes and the ladder falls down on the lower rungs…the housing crash being the prime example
Smiley/OCD
Well-Known Member
No, it’s really not…GM’s at Wawa, a rapidly growing east coast gas/C-store chain pays over 100k
Smiley/OCD
Well-Known Member
And if you become a GM at Chic-fil-A, you are a part owner in that location…they REALLY take care of their employees.
lazyboy97o
Well-Known Member
It’s more that the franchise owners are often the general manager. Chick-Fil-A requires franchisees to be owner-operators.
And Sundays off
kong1802
Well-Known Member
Forgive me if this has already been mentioned.
A large issue today is the reliance and use of the stock market as the end all be all.
A lot of firms use ratios to determine investment strategy, which in turn can impact stock $.
Corporations have become laser focused on "creating shareholder value", and thus are also laser focused on ratios.
This is why it is incorrect to assume that direct labor has a 1:1 relationship with overall price of a good. It's actually worse than that.
Say a company sold a product for $2 and for ease let's pretend that the only cost is labor at $1. They have a ratio of 100% which looks pretty strong to investors. Now the labor force wants .50 more. The company could just pass that along, and sell the product for $2.50. After all, they would still make their $1 on every sale. But, what about "creating shareholder value"? What would they do if they couldn't keep their stock price soaring upwards based on their terrific ratios?! So they decide that they must keep that ratio of 100%, and they price their good now at $3 ($3 to $1.50 in cost). The era of ratios and the intense focus on only shareholders has gotten us into an insane spiral. We blame the people wanting $.50, but fail to see the real issue where the company decided it "had" to make an extra $.50 in profit to cover that cost. As usual, 80% of the country gets played.
A large issue today is the reliance and use of the stock market as the end all be all.
A lot of firms use ratios to determine investment strategy, which in turn can impact stock $.
Corporations have become laser focused on "creating shareholder value", and thus are also laser focused on ratios.
This is why it is incorrect to assume that direct labor has a 1:1 relationship with overall price of a good. It's actually worse than that.
Say a company sold a product for $2 and for ease let's pretend that the only cost is labor at $1. They have a ratio of 100% which looks pretty strong to investors. Now the labor force wants .50 more. The company could just pass that along, and sell the product for $2.50. After all, they would still make their $1 on every sale. But, what about "creating shareholder value"? What would they do if they couldn't keep their stock price soaring upwards based on their terrific ratios?! So they decide that they must keep that ratio of 100%, and they price their good now at $3 ($3 to $1.50 in cost). The era of ratios and the intense focus on only shareholders has gotten us into an insane spiral. We blame the people wanting $.50, but fail to see the real issue where the company decided it "had" to make an extra $.50 in profit to cover that cost. As usual, 80% of the country gets played.
pdude81
Well-Known Member
The street does love those margins. Well, only if they are growing.
JD80
Well-Known Member
It's not an exact number, but generally you take the person's yearly income and multiply it by 1.35-ish and you'll get a fully burdened rate of that employee. I.e. Someone makes $100k, it cost the company $135k to employ that person.
kong1802
Well-Known Member
It's one of my biggest gripes.
I don't think most people realize that it's not the "poor" company trying to cover their costs.
It's the "poor" corporation trying to manipulate ratios to inflate their worth and create wealth for 20% of the pop.
flynnibus
Premium Member
Something is way off there... the point of a High Deductible plan is your premiums are lower than a PPO or HMO style plan in trade for the higher deductible. In generally it should look 'cheaper' than the alternative, especially to those who don't use a lot of coverage.
But of course if your employer also basically stopped contributing to your medical benefits cost, your premiums could have skyrocketed alongside a switch to a HDHP.
The whole model of why an employer pushes the plan is because the health plan is cheaper (due to the higher deductibles), thus lowering their contribution obligations.. and many employers offer employees incentives to move to the HDP to help push them.
I've had a high deductible plan for probably a decade now and it's been great. But they've nicked at it over the years by raising the OOP minimum and adding a 90% coverage level. And having a HSA blows the doors off of FSA accounts too.
Sirwalterraleigh
Premium Member
Chickfilas are gold mines.
flynnibus
Premium Member
Ehh.. that's a little skewed. That's presenting it like margin is always just profit and the only reason to profit is shareholder value. That's a gross simplification. 1) Without margin a business can't survive. 2) Profits are also what fuel future investment - a company without profits can't survive because they can't do necessary investments to keep current
Now obviously excess profit is what you want to use to show shareholder value, either through valuation or by returning it to shareholders.. and the more you have, the better it looks. But rising costs leading to rising prices isn't about excess profits alone... sacrificing profitability is also a risk to your forward viability. So rising costs are going to drive up prices even if you've minimized excess profits.
Sirwalterraleigh
Premium Member
DisneyDebRob
Well-Known Member
Need to get them during the one month during summer where the classic are 5 bucks at Wawa. At 9 bucks I’m not to sure anymore.
Got to eat my sub at Wawa with a knife and fork. On the touchscreen I order almost every single topping and dressing for my sub, the sandwich is beyond overflowing.