Will Disney pass their new found wealth to the CM's ?

[21stamps]

Private schools with endowments.. sure. Know how much financial aid my kids were offered? 5k federal loans. And that's with the family having multiple kids in college at the same time. How much money do you think I should be making to be able to afford 60k/year in college payments outright to pay for two kids in school.. in addition to my normal life? That's nearly 80k in earnings a year just to pay for school for my kids. As if I were just buying a vette every year just for fun...

55k - 25% for taxes = 41.2 - 75% leaves $10.3k a year to live. Didn't everyone just say you can't live on minimum wage? $900/month you have extra circumstances to really make it work... like carrying in a car you had previously, where you live, living at home or in cheap shared housing, someone else's insurance, etc.

$600/mon won't even get you a room in a shared house to rent within 50miles of me.

Now imagine getting a $1000 repair bill like I just did yesterday... how does someone living on 10k a year in total pay a $1k bill that if they don't... they can't get to work?

The numbers are so far out of wack these days... even what I was able to do 20+ years ago don't even apply today.

Not all private schools can give that kind of money to everyone, I agree with you there.
My sister and I both went to private universities and neither one of us qualified for financial aid.

Even worse, my over-achiever sister knew what she wanted to “be” from age 10. Never wavered once. Turned down an athletic scholarship and instead attended a Catholic University who did not give any kind of athletic scholarships. She chose it because they were rated one of the top in her preferred field, and most of all, it was a year round program which shortened her time in school by 2 years. She said “I’m not going a professional soccer player. I need to chose what’s best for my career.”
She did get a few scholarships from high school and the archdiocese, but nothing was need based.

I don’t know if things have changed since we were younger, but it definitely wasn’t easy to qualify for financial aid. And like you said, they don’t take the other children into account when looking at a household income.

 

[aw14]

In terms of the financial aid argument, considering what I do for a living, as of now, aid/grants etc... are not hard to come by. Many high schools give their students scholarships as do many colleges.

Education is available for those that want it.

 

[21stamps]

I agree in theory, but I also feel like the economic environment the kids will contend with moving forward is a bit different from I had to deal with. Increasingly, financial security is less a function of wages and more a function of portfolio investment. IMO, this is evidenced by an enormous consolidation of wealth. There are a number of significant concerns regarding labor markets that even the most brilliant economists lack answers for. For this reason, I believe it's crucial that people are immediately able to invest a certain percentage of earnings. Debt represents just the opposite, IMO.

I agree with you. However, given the cost of elementary and high school these days, it was a conversation that I did find thought provoking. My kid isn’t at the most expensive elementary school and won’t attend the most expensive high school.. but even for the 2017/2018 year his future high school’s base tuition is $14,425.
After that’s all finished, maybe let them share in the responsibility for college. There could be better ways to use the money instead of covering tuition at 100%.

Education prices have become ridiculous across the board. I can say one thing that I would never do again- the outrageous cost of “prestigious” Preschool and PreK respectively. What a joke. I will tell every new parent, invest your money instead. It’s not worth it in the long run.

 

[flynnibus]

In terms of the financial aid argument, considering what I do for a living, as of now, aid/grants etc... are not hard to come by. Many high schools give their students scholarships as do many colleges.

Education is available for those that want it.

As a parent of a student who had 60 college credits by HS graduation, was dual enrolled, had a 4.34 weighted GPA, was top 10% in her class(was low because she was taking College classes at CC, not AP classes which would have boosted her high school GPA), at a HS that is consistently ranked in the top 10 in the state, had tons of community and non-school activities... and got essentially nothing... I think its bit more complicated than just 'those that want it'.

All that and she couldn't get into UVA - which is an instate public state school. She's finishing her freshman year as basically a junior in college... with a 3.94 GPA right now.

But because she has assets, and so do I... NO SOUP FOR YOU!

 

[Chef Mickey]

It takes money to make money in this economy. A catch 22 for broke people.

One of the stipulations I put on my children for me funding their education is that I get to vet their degree selections. If the career opportunities associated with their degree choices look bright, I will fund. If not, no money. My daughter is looking into bio-engineering and/or bio-weapon design (not necessarily anti-human). Ethically, I have a problem, but financially it seems pretty sound.

I also promised her a daddy-daughter corvette combo if she gets a perfect score on her SAT. She was so close on her PSAT I am a little concerned. Meh, I'll honor it. Save that much on tuition I imagine.

My son on the other hand, wanted to get a history degree. Big fat nope on that one.

...until he presented me with a detailed plan to apply the degree (teaching). Now I am rethinking my veto.

There are a lot of worthless degrees out there. It borderlines on unethical for higher education institutions to churn out as many as they do. But, as parents, that is where out wisdom can help.

I was broke at one point too. That's the point in all this. You can get ahead if you are diligent. The job market is so good, there is no excuse to not have a decent job if you're skilled, ambitious, and hard-working. This was not the case 10 years ago.

 

[Chef Mickey]

As a parent of a student who had 60 college credits by HS graduation, was dual enrolled, had a 4.34 weighted GPA, was top 10% in her class(was low because she was taking College classes at CC, not AP classes which would have boosted her high school GPA), at a HS that is consistently ranked in the top 10 in the state, had tons of community and non-school activities... and got essentially nothing... I think its bit more complicated than just 'those that want it'.

All that and she couldn't get into UVA - which is an instate public state school. She's finishing her freshman year as basically a junior in college... with a 3.94 GPA right now.

But because she has assets, and so do I... NO SOUP FOR YOU!

Are you saying she couldn't get INTO college or get scholarships? With the stuff you listed, she would have no problem getting into schools...or something else is going on.

 

[John park hopper]

There are ways to reduce the cost of higher education. As I posted earlier joining the military allows you to make use of the GI bill. It has changed from when i took advantage of it in 72 but it is still available. I can attest to the fact in my case the disipline and seeing the world did me a lot of good; I went to college with a purpose. IMO many would benifit from military service prior to entering college---- discipline, responsibility, maturity which seems to be lacking in many college students these days

 

[POLY LOVER]

I have 30-60 people that work for me. What I have seen with millennials is that they are the most 'entitled' of my whole team. However, and this is important, this is again a percentages thing. Quite a few are also extremely hard working and dedicated. I just promoted a 20-something and she is wonderful, and also a millennial. I also have another person, same age, that I have to coach, over and over, how sick time is an insurance policy and not an entitlement. She takes it, all of it, as it accrues. Usually on Fridays and Mondays.

My boomers are pretty chill. More level over all. Maybe a little more 'grumpy', but it's that kind of geriatric disgruntlement that everybody knows is not personal.

I once attended a talk by a doctor who wrote a book titled, if you think your kids are crazy they are. He explained how the brain does not fully develop until you are 25. It's was funny but he broke it down basically kids are making decisions that they don't have the full mental development just yet to make. Now of course some kids are at different maturity levels and do well.

 

[POLY LOVER]

Oh please get out of here with that millennials not working hard nonsense, we have it WAY harder than the baby boomers (not the previous generation though). We got left with a crappy economy and enormous amounts of college debt that will probably never be paid off. We are the most educated yet poorest generation. Most kids my age work two full time jobs while going to school, most older people I know would never be able to do that. Also having working the service industry, Disney included baby boomers are the most self entitled Whiniest people I have ever come across. Also who the heck is asking for $20? Not one person or organization I know is. That is absurd

Some of these millennial bashers claiming they walked bare foot through the snow to work uphill and loved it fail to mention the benefits they received from companys back then. Real pension plans for life, healthcare included with no co pays, insurance policy's. My father worked for GE and when he retired GE had a great pension benefits package that took care of him and his wife. They truly had the golden years that millennial will never see from their company's today. Millennial profesionals work hard for salaried pay, no over time pay, expensive healthcare etc. please spare me the millennial bashing.

 

[CaptainAmerica]

I think we can agree that this is an oversimplified picture on a number of fronts, but I understand what you are trying to say. Despite the financial burden, the attending of a premiere program and the avoidance of debt (up to the tune of 6%-7%) are not necessarily exclusive.

Right. This isn't to say that "expensive programs are worth it," simply that "elite programs that are expensive but boost your expected earnings may be worth it."

Consider for a moment, the lifetime net difference between student loan payments up to age 28 and retirement contributions over that same period.

That effect is baked into the fact that I discounted the value of the net benefit by 8% compounded annually.

 

[jloucks]

Are you saying she couldn't get INTO college or get scholarships? With the stuff you listed, she would have no problem getting into schools...or something else is going on.

Inferring no scholarships. My kid is headed along the same path, except with lots of AP classes.

However, there are guaranteed scholarships. Like with a perfect SAT score. Maybe even near perfect.

 

[21stamps]

Some of these millennial bashers claiming they walked bare foot through the snow to work uphill and loved it fail to mention the benefits they received from companys back then. Real pension plans for life, healthcare included with no co pays, insurance policy's. My father worked for GE and when he retired GE had a great pension benefits package that took care of him and his wife. They truly had the golden years that millennial will never see from their company's today. Millennial profesionals work hard for salaried pay, no over time pay, expensive healthcare etc. please spare me the millennial bashing.

I won’t bash all Millenials, I just think some of the younger ones are more entitled than anything we’ve ever seen in the human race.

How far back are you taking? GE no longer has such a thing, and has not for many years.
Most companies do not have anything of the sort. Unless you’re referring to an HSA as the no-copay plan.

Many baby boomers didn’t have what you’re saying. A lot were forced to delay retirement because of the economy, because of the hit to their investments.

I’m GenX and haven’t seen anything like 0 copays, “overtime pay”, and pension plans either. What I did see though- a new home that I purchased, pre construction, ended up getting its completion date pushed back due to the aftermath of hurricanes. Then, once it was finally completed- Market crashed. Within ONE YEAR of being built it was now worth 50% of what I paid. 50%, and I’m rounding up.
So yeah, for anyone over the age of 35, it’s a little tough to relate to ‘how difficult Millennial-20somethings have it today’.

 

[PutmickJ]

If that question is an implication that they or myself went to college when it was cheap, that is all a matter of perspective. I graduated from College in 1968. Minimum wage was $1.60 per hour. My father ran the transportation section of an oil company made $7K per year. All things are relative, like going to Disney. It was no easier to do that stuff back then. Minimum wage is about 6 times higher then that now and so is cost of living.

You couldn't support yourself on minimum wage back then and you can't now. You start your career and you work your way into a Mercedes. You don't get it because your mom told you that you were the smartest kid in the world. Or because you got a trophy for showing up at a soccer game. Every new job we got was always an on "probation" type thing. You had to work you butt off to get to the next stage, but, this was for companies that had the next stage available.

If they didn't and had an out of balance need of skilled to unskilled workers then the next step was huge. You really had to prove yourself to get to that step. Disney is a company that leans heavily on the unskilled side. Degrees are not needed to point (with two fingers) toward a restroom or to ask "how many in your party". On top of that there are literally thousands of applicants that want to have the opportunity to have Disney on their resume and are not even lightly considering a career with Disney. If they do they cannot have the attitude that "I will give them more when the pay me more". I can't tell you how many times I heard that uttered. That gets one no place.

Alright, but if you're making $1.60 per hour in 1968, that has the buying power of $11.57 in 2018 dollars which is over 150% the current minimum wage. You can't just throw out numbers without taking into account inflation.

With some quick numbers of a minimum wage of $1.60, and a College Tuition for a public college in 1968 around $1,960 from the best estimates I've found (http://www.archives.upenn.edu/histy/features/tuition/1960.html), working 40 hr per week you could feasibly pay that off in 30 weeks of work.

In 2018, you'd be hard pressed to find a 4 year state school that you can get into under $10k, so we'll take the low road and just ride the $10k number for easy sake. You'd have to work for around 34-35 weeks on the same minimum wage dollar value. This also doesn't take into account the rising cost of Room & Board for College compared to then either. If you were making $1.60 in the "Good Ol days" and that now equates to $11.57 in current USD, why is it so bad for people to want more than the federal minimum of $7.25? Shouldn't they be given the same chance that you were with your $11.57?

I just don't understand why people consider millennials to be such a self-centered generation when it seems to be the baby boomers that have the hardest time giving them the same fair shake for their education that those from the 40s gave the boomers. I feel like I see more threads of older generations complaining about millennials with no facts or data behind it instead of trying to take it in from their perspective and just blindly try to crucify them because the boomers earned smaller amounts back then (even though its more than now).

I don't know the straight facts on the cost of disney tickets through that time, but I side with the "if you're having trouble affording things, Disney is not the trip you want to take" folks, so in no way am I arguing that people should be going to Disney if they can't afford it.

 

[flynnibus]

Are you saying she couldn't get INTO college or get scholarships? With the stuff you listed, she would have no problem getting into schools...or something else is going on.

She didn't get into the top school in the state AND didn't get scholarships (of mention..). The system is far more complex than just saying "if you try...". She also didn't get into Cornell.

For instance, geographies in selection pools... "diversity"... test scores.. how you match their criteria, etc. For instance in my child's case, she was dual enrolled in college for both her Junior and Senior year instead of taking AP classes that had less portability and frankly.. less value. So she had crazy # of credits... but depending on how you look at it, she had a very weak Senior year class load and the kinds of classes she took.. if you only look at her HighSchool transcript. Meanwhile, she was taking a full course load at CC, did HighSchool, worked a job, and was still a trainer at her barn... plus her riding.

In hindsight, she could have skipped freshman admissions entirely, took maybe 1-2 more classes and transfered to the state schools under the guaranteed admissions programs with an AA. But she was taking classes based on her future class needs, not an AA specifically. But due to the way the departments work... she may have actually been better off as a transfer student. VA has a garunteed admissions program for CC->4year schools if you have a certain GPA/etc.

I don't even know what her test scores were anymore honestly.. the SAT has changed like 3 times in recent years and I have no real frame of reference anymore. The way they do the writing portions, etc have made it all goofy.

The kid is the smartest you will find... she's actually a year ahead of where she was supposed to be age wise, was reading 3rd grade level when going into Kindergarten.. and I don't think has gotten less than an A... ever.. in any class.

As much as admissions people will tell you "we review every application individually..." - there are still a ton of filter criteria in play. Especially when it comes to financial aid.

 

[njDizFan]

https://www.motherjones.com/politic...our-job-to-a-robot-and-sooner-than-you-think/
Haha what jobs...I think this article should be mandatory reading. We are not even going to recognize this world in 30 years.

Anyway, this is as a divisive a subject as printed napkins. I do not believe there is a right answer. You can go back and read the constitution, the Federalist papers, "Wealth of Nations", the Magna Carta or whatever tome you wish to site as correct, it all boils down to opinion. We live at the height of social humanism and this trend will continue unless it is brought down by surge in dictatorship. There is a divide between the "boot strap" capitalist/social Darwinist and liberal progressive wing that is fueled by emotion as much as reason or logic.

I think what boils down to .50/hr raise(40 hour full time employee) is great and absolutely not required but sustaining that as a continuing raise would be a larger benefit. Personally I would prefer if tax payers weren't subsidizing Disney because we end up paying for the food stamps and health care in the long wrong. This love of unregulated business seems crazy to me, corporations should be responsible citizens to their community. But I am done arguing with people who think that everyone gets the employment they deserve and business does what business has to do to make money and that is sacrosanct.

 

[aw14]

As a parent of a student who had 60 college credits by HS graduation, was dual enrolled, had a 4.34 weighted GPA, was top 10% in her class(was low because she was taking College classes at CC, not AP classes which would have boosted her high school GPA), at a HS that is consistently ranked in the top 10 in the state, had tons of community and non-school activities... and got essentially nothing... I think its bit more complicated than just 'those that want it'.

All that and she couldn't get into UVA - which is an instate public state school. She's finishing her freshman year as basically a junior in college... with a 3.94 GPA right now.

But because she has assets, and so do I... NO SOUP FOR YOU!

There are a lot of grants/loans etc that can apply. Did you speak with the school counselor, the schools college and career office? Considering what I do for a living and see quite a few well off folks who are able to utilize differing means to get to college.

It’s there if researched. With that said, many high schools don’t provide the information needed. So it’s not at all 100% on the families.

 

[Goofyernmost]

Alright, but if you're making $1.60 per hour in 1968, that has the buying power of $11.57 in 2018 dollars which is over 150% the current minimum wage. You can't just throw out numbers without taking into account inflation.

I don't know it it is the equivalent, in purchasing power, that you stated. Could be, I don't really know. What I do know is that I lived through it and I know that there was no extra money for play things. There was as hard a task as paying off today's college loans. Even 11.57 an hour will not buy you crap anymore, but, if you honestly think that you could afford, clean comfortable housing, a dependable car, a family, good food for that gigantic $64.00 per week, before taxes, you might want to rethink your position. No matter how "cheap" things seem to be $64.00 did not go very far. Every month you had to decide what you were going to pay and what you were going to hold until next month. All the numbers in the world do not change the realities. So go on believing that we were living in the lap of luxury and could afford all the good things in life back then... we could not. The day after I graduated from College, I was in the service. Although they did provide housing (if single) and three meals a day. Wanna take a guess about how far that $35.00 per month went?

My point is...in the slightly altered words of Walter Cronkite... That's the way it was! One can cry in their cornflakes forever, it won't change that nor will it change the idea that we didn't even have a safety net to help when we got in way over our heads due to car problems, appliance problems, health problems. Contrary to popular beliefs the only people that had solidly paid for health insurance plans were in Management. Lower life forms were seldom even offered any insurance. What we did have to do, is work our butts off, be good enough that we became needed in the business where we were employed and work our way up through the ranks until we could live the better life. There were no charitable contributions toward our well being. You would either swim or you would sink. GE and other large corporations didn't have branch offices everywhere. You normally had to work for small local businesses that offered zero benefits... zero! And when you left home as an adult, you were expected to make it on your own. In the event of emergencies a temporary coming home was allowed, but, not expected.

 

[POLY LOVER]

I won’t bash all Millenials, I just think some of the younger ones are more entitled than anything we’ve ever seen in the human race.

How far back are you taking? GE no longer has such a thing, and has not for many years.
Most companies do not have anything of the sort. Unless you’re referring to an HSA as the no-copay plan.

Many baby boomers didn’t have what you’re saying. A lot were forced to delay retirement because of the economy, because of the hit to their investments.

I’m GenX and haven’t seen anything like 0 copays, “overtime pay”, and pension plans either. What I did see though- a new home that I purchased, pre construction, ended up getting its completion date pushed back due to the aftermath of hurricanes. Then, once it was finally completed- Market crashed. Within ONE YEAR of being built it was now worth 50% of what I paid. 50%, and I’m rounding up.
So yeah, for anyone over the age of 35, it’s a little tough to relate to ‘how difficult Millennial-20somethings have it today’.

Everyone thinks they work harder than the next guy and if we are truthful we know that's not 100% true. A guy who is installing a new roof in the hot Florida sun wil certainly debate you on who is working harder. The original point is can Disney increase their hourly wage a dollar without the world ending? They just received a corporate welfare check at tax payers expense. Can they share a small part to the people that will have to pay it back? Elevate your low wage employees and help them live a bit of a better life. Henry ford knew that his people had to make a wage that could allow them to buy his cars.

 

[flynnibus]

There are a lot of grants/loans etc that can apply. Did you speak with the school counselor, the schools college and career office?

Yes, quite extensively... and applied for multiples... from both the private sector and the schools/boosters.

 

[21stamps]

Everyone thinks they work harder than the next guy and if we are truthful we know that's not 100% true. A guy who is installing a new roof in the hot Florida sun wil certainly debate you on who is working harder. The original point is can Disney increase their hourly wage a dollar without the world ending? They just received a corporate welfare check at tax payers expense. Can they share a small part to the people that will have to pay it back? Elevate your low wage employees and help them live a bit of a better life. Henry ford knew that his people had to make a wage that could allow them to buy his cars.

It’s not about working harder. It’s about how many people can do your job...that’s why the pay is reflective of skill/knowledge.

As far as I know, Disney is in wage negotiations right now. Maybe when the union stops asking for a ridiculous amount, then the two will come to an agreement. A cashier or ride operator should not be making $15 as a starting wage.

But that’s a different thread...