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News & Current Events Discuss Fast Food Restaurant Responds to Minimum Wage Hike at the General Forum; Originally Posted by jimbo I am not interested in getting into a pissing match, but according to McDonalds Australia, they ...

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Old 07-12-2015, 09:08 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Originally Posted by jimbo View Post
I am not interested in getting into a pissing match, but according to McDonalds Australia, they use 100% Australian beef.

https://mcdonalds.com.au/maccas-food/whats-in-it

Their Q and A on the US site states that the imported beef costs less to the tune of approximately 10%.

Mikeyy, there can be any number of reasons why prices vary by country on a similar product. Plant and equipment cost, government restrictions, taxes, etc.

I'm not interested enough in MickyD's in Australia to research the matter. Just trying to set the record straight.
The record is pretty clear. The argument against higher wages is BS.
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Old 07-12-2015, 09:10 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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The record is pretty clear.
It is. 14% wage increase, 14% price increase.
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Old 07-12-2015, 09:24 PM
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It is. 14% wage increase, 14% price increase.
Then they increased profits by the same percentage didn't they?
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Old 07-12-2015, 09:28 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Then they increased profits by the same percentage didn't they?
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Old 07-12-2015, 09:33 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Of course. The price of the food covers wages and profits and costs. If wages went up 14% and they increase prices 14% they have also increased profits. In fact because costs haven't increased their profits went up even more than 14%. Sometimes you have to use your head for something besides growing hair on Hairy.
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Old 07-12-2015, 09:39 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Originally Posted by Mikeyy View Post
The record is pretty clear. The argument against higher wages is BS.
Looking at the MickyD Aus site, it appears that most produce is purchased locally. Not imported from the US. In fact, they make a big deal of it.

Looking at your chart it appears that Big Mac prices do not necessarily equate to minimum or even average wages. Countries above and below the US Big Mac price have both higher and lower wage costs..

Again, picking a single statistic from a multitude of business expenses and attempting to make the case that it is all about that single statistic is bad accounting.

Last edited by jimbo; 07-12-2015 at 09:49 PM..
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Old 07-12-2015, 09:48 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Originally Posted by Mikeyy View Post
Of course. The price of the food covers wages and profits and costs. If wages went up 14% and they increase prices 14% they have also increased profits. In fact because costs haven't increased their profits went up even more than 14%. Sometimes you have to use your head for something besides growing hair on Hairy.
Nothing of the sort. It does not follow that costs and price of goods sold travel in a direct line. Profits can vary, costs can vary. Seldom do they vary in parallel lines.
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Old 07-12-2015, 09:54 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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Nothing of the sort. It does not follow that costs and price of goods sold travel in a direct line. Profits can vary, costs can vary. Seldom do they vary in parallel lines.
The only thing that increased in this story is wages. Wages are one factor in running a business. If wages went up 14% then prices shouldn't need to go up 14%. Do you people know anything about business?
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Old 07-12-2015, 10:10 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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I have been to Australia and have seen the US beef signs. But even if I am wrong lets consider what you said. The price of beef is higher in Australia. Farm workers there make more money. Can you answer the rest? Why can they make a profit if they are paying much more in wages and taxes than us and still selling a big mac cheaper?
Kangaroo meat is plentiful over there. I've eaten it, and it makes some tasty hamburgers.
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Old 07-12-2015, 10:11 PM
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Default Re: Fast Food Restaurant Responds to Minimum Wage Hike

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The only thing that increased in this story is wages. Wages are one factor in running a business. If wages went up 14% then prices shouldn't need to go up 14%. Do you people know anything about business?

Apparently not those modern day college graduates masquerading as fast food franchise managers.
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