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To be fair, ingredients have continued to climb in price, especially beef. The fast food model was always unsustainable without sacrificing quality even further and raising prices.
Fast food likely would have been fine… if wages increased as much as the prices did.
The fact that the minimum wage doesn’t increase every year, yet prices do, meant that this was always going to be a recipe for disaster.
Oh 100%, completely agree with you there.
Im not so sure.
Apparently the current CEO is only worth about 6mil. Fast food isn't like Tesla or twitter so no billionaires I guess. Idk. How much upper management is there, what's their salary and how actually valuable is there work? It's just fast food. What about wall Street investors, how much do they get. How much is wasted on ads? Lots of supply chains in fast food too.
I just think when it comes to food there shouldn't be any extreme wealth and profit. No megayachts, mansions, or Bentleys. I don't see why the quality can't be good, workers can't be paid much better, and the prices can't be cheaper. In our capitalist system some people are getting way more money that they did not earn and don't deserve, at everyone else's expense. But I admit I don't know the numbers and 6mil for a CEO seems low (although I'd retire immediately with 6mil LOL).
Not true. The people making 6 or 7 figures could all take a hit to their salaries and that would translate to lower prices for customers.
The problem is, why would they if they don't have to?