In the second quarter of 2013, McDonalds generated $7.1 billion in gross revenues and enjoyed profits of $1.4 billion. This 19.7% profit margin was too “narrow” for McDonalds and disappointed Wall Street. http://www.forbes.com/sites/steveschaefer/2013/07/22/mcdonalds-posts-narrow-profit-gain-disappoints-street/
Boo hoo! Poor McDonalds. I guess I now understand why they can’t afford to pay their workers a living wage. Fast food workers around the country are striking for higher wages, having had to live on minimum wage for years. http://www.nbcconnecticut.com/news/local/Hartford-Joins-National-Fast-Food-Worker-Strike-221623411.html
While many employees of fast food restaurants are young people who are in school and don’t support a family, that fact is changing. With the loss of more and more good paying jobs, fast food restaurants are becoming some of the remaining sources of income for men and women supporting families.
We think they deserve better pay and we think that McDonalds can easily afford it. Of course, McDonalds will never raise wages voluntarily, but perhaps the threat of unions and strikes will drive them to the bargaining table. And for those of you who think unions are anti-capitalist, think again. There is nothing more capitalist than parties of equal bargaining power negotiating at arm’s length. All unions do is level the playing field.