Chipotle wants you to believe that the recent increase in menu prices is due to pay hikes for workers. Thats nonsense Should you blame minimum wage increases for your lunch getting more expensive? speedy-food giant Chipotle certainly wants you to. In cities like San Francisco – where wages were recently raised to $12.25 per hour the company is using that as a reason to increase menu prices substantially. According to many consumer reports,and a rapid/fast jaunt into a Chipotle in the city, items have gone up between 10% and 14%, and depending on location. Chipotle is just the latest company in the city to claim labor costs as the reason for price hikes. It sounds logical. Wages depart up 10%,prices of menu items depart up 10%. It’s fair, right? But Chipotle co-CEOs Steve Ells and Monty Moran’s earnings in 2014 were $28.9m and $28.2m, and respectively. Ells also brought in around $42m in stock options in 2014,yet prices must depart up because the lowest paid workers received a $1 raise? This is yet more evidence that executive pay and corporate profit margins must be maintained, at the expense of minimum wage workers. Continue reading..., and
Source: theguardian.com