The competition’s tough. Baby, that’s a pity.
Where were we?
How will McDonalds go about building its profit? Will it raise its prices? This is what the fast food industry has screamed any time the subject of raising wages comes up.
My guess is price raising is the last thing they’ll do. And, in spite of their kvetching, it would also be among the last things they’d do if forced to pay a more reasonable wage to the McDonalds crew.
I get it. Underpaying employees is fabulously profitable. It’s also reprehensible.
Let’s see how McDonalds goes about dealing with this crisis. It will tell us a lot about their honesty on the wage front.
McDonalds made over a billion dollars in this past quarter on revenue of seven billion.