191–200 of 279 posts
Unfortunately my experience has been when a CEO is asking you to “act like an owner” it is code for “spend less” and “work more.” The subject of this article had an advantage because he took things quite literally and hadn’t heard the BS before. 3G Capital also uses the “act like an owner” code - the problem is that their employees cut a bunch stuff and they cut a bunch of their employees.
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It’s weird but not wrong, the area he lived in is still there. Guasti, CA: https://en.m.wikipedia.org/wiki/Guasti,_California
I'm confused now - the Ontario international airport is in California? (As opposed to Ontario, Canada; both of course confusingly abbreviated 'CA'.) https://www.flyontario.com/ Yep, yes it is. Not confusing at all..! (To be fair I've tried to check in to a hotel on Newmarket Rd, Cambridge for a booking in Newmarket, North of Cambridge; which was at least wrong with reference to the same Cambridge UK and not Cambridge…
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It’s amazing that corporate America thinks it can’t hire a at all levels from the custodian to the CEO, but almost every school system and government can figure it out.
Governments (in the west) don't hire their leaders, though. Same is true of schools - principals and the like might be hired, but the school boards that chose them are elected.
That's $18.52 an hour in today's dollars. The average pay for a janitor today is closer to $12 an hour. In fact, just a few years after 1976, janitors' wages (at least in LA) started falling sharply below the cost of living: https://socialjusticehistory.org/lalabor/workingla/archives/... The fact that our economic system worked for him does not mean that it works for the vast majority of people in similar jobs. It's…
This was in "the late 1980s". Even if we're assuming this was in 1985, $4 in 1985 is $9.36 - $9.85 today. Sources: https://www.bls.gov/data/inflation_calculator.htm https://www.usinflationcalculator.com/ https://smartasset.com/investing/inflation-calculator https://www.calculator.net/inflation-calculator.html?cstarti...
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It's also 5 miles from LA county, so wages should be halfway competitive.
What's kinda funky is that the LA County minimum wage only applies to Unincorporated areas, so if you're in the city of Pomona or wherever the minimum wage is still $13
That's $18.52 an hour in today's dollars. The average pay for a janitor today is closer to $12 an hour. In fact, just a few years after 1976, janitors' wages (at least in LA) started falling sharply below the cost of living: https://socialjusticehistory.org/lalabor/workingla/archives/... The fact that our economic system worked for him does not mean that it works for the vast majority of people in similar jobs. It's…
I would rather have 1 million people making $12/hr and 0 unemployed and in poverty than 650k people making $18/hr with 350k just shit out of luck. I can’t say the former is what we have, but with unions or tight labor market regulation, the later tends to be closer to what you get.
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Were starting to see the results of outsourcing everything but your core business and it's not looking like a great strategy.
The software industry hasn't quite figured it out, but specialization is a great strategy for the vast majority of the economy and it has worked extremely well.
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At least a picker at Amazon works for the same company as the CEO. Most jobs at that level would be contracted out.
Why do I get the feeling that if a janitor (outsourced or not) emailed Bezos with an idea, he'd be fired, threatened with lawyers for stealing Amazon business process IP until he signed away any IP rights, and then maybe Amazon would roll it out without crediting him?
Note that I don't think you'd get so much as a bonus or pay bump for your trouble, but don't worry, you can feed your family with the pride you have in your idea making the flywheel turn that much faster.
> So Montañez assembled a small team of family members and friends, went to the test markets, and bought every bag of Hot Cheetos he could find. Well, that would certainly make them sell better, but doesn't exactly make it an accurate test? I think I've heard of other companies doing this, although usually it's to inflate revenue and growth numbers pitching to investors or space in stores. I want to say some company…
Two things I haven't seen anyone mention that seem important: 1. For the one person who has "made it" economically, there are countless others that haven't, that still live in one-room houses. What about them? 2. I think it's worthwhile pointing out that the product that he created, while popular and financially successful, is a junk food that has a significant impact on the health of adults and children worldwide. W…
> For the one person who has "made it" economically, there are countless others that haven't, that still live in one-room houses. What about them? I think you're overlooking the miracle of capitalism. If it was just about one guy striking it rich, this would be no different than the story of someone winning the lottery or getting a big inheritance from a distant relative. Instead this is the story of a man who worked…
dcolkitt - I wish I could upvote you twice.