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No one won in this debacle.
The employer (Genting Group) has billions in assets and employs over 58,000 people globally.
Somehow I suspect that they could care less about the employees or the loss in income.
About Resorts World Casino New York City
Resorts World Casino New York City is a wholly-owned subsidiary of Genting Malaysia Berhad ("Genting"), a member of the Genting Group, which has a 20-year track record of investing in the United States. Its business in Florida started 11 years ago when it acquired Miami-based Norwegian Cruise Line ("NCL"). The Genting Group currently owns 50% of NCL. In 2006, Genting Group partnered with Universal Studios to build the Universal Studios Singapore theme park in Sentosa, Singapore. Universal Studios Singapore is part of the US$4.5 billion Resorts World Sentosa in Singapore. For more information on the various Resorts World properties worldwide, please visit www.resortsworld.com
About Genting and The Genting Group
Genting (www.gentingmalaysia.com) is a member of the Genting Group (www.genting.com), the world's largest Destination Resort operator with Resorts World branded properties in Malaysia, Singapore, Manila and New York City. In addition to Destination Resorts, the Genting Group has global investments in plantations, power generation, oil and gas, real estate, cruise, leisure and other industries.
The Genting Group has five public companies listed on the stock exchanges of Malaysia, Singapore and Hong Kong, with a combined market capitalisation of US$45 billion and employs more than 50,000 people worldwide.
reply to post by bladerunner44
For example, let us take a company with 100 employees. Instead of paying the CEO 4m a year and everybody else 20k a year, I would prefer the situation of everybody receiving 50k and CEO 1m a year, although even that is too high salary in my eyes. The CEO still earns extreme salary, at least now employees earn fair wage. Hard-work is still rewarded...
reply to post by xuenchen
175 x 40 hrs = 7000 hrs
$5 ph x 7000 = $35000
$12 x 7000 = $ 84000 all per week
Probably couldn't afford it.
Generally, I would say majority of companies, especially retail, use somewhat similar strategy for keeping the prices lower due to lower expenses on employee costs, especially when it comes to lower-skilled jobs, who are usually easily replaceable in current economy, where there are not many jobs to choose from. If a person has a choice, either 5 dollars an hour, or my family starves, he chooses the first option.
Also you have to consider the fact, that there are many people out there, whose mental capabilities might top at some burger flipping or very low-skilled field. Every 7th person out there has IQ lower than 85, while 50% of the population has it lower than 100. A person with an IQ of 80, has not much chance for ever being able to do more intellectually demanding jobs, which usually are higher-paying.
Another thing to consider is the fact that somebody has to do the easy things anyways. Somebody has to work in Walmart, somebody has to clean, plumb, whatever the job.
I´m not talking about some 100k yearly salary for a burger flipper, but reasonable enough salary, so the person could get healthcare, basic food and pay the rent/transport, living wage basically. At least in most European countries something similar has been achieved, although the cultures are also very different. US salary system is very broad, for example, when here the lower employees earn 1, middle-level earns 5, specialist 7 and the top 10, then in US it might be 1,7, 12 and 20 (40) . The bottom loses more and the top wins more, here it is more equal. Top still earns well, but bottom gets the living wage.
And what is the reason that will be the high water mark of their life? Complete and total lack of anyway to improve their lot in life. I mean all had rich mommies and daddies to pay for our grad schools, or at least a trust fund we could use right?
It isn't like the chances of someone pulling themselves out of poverty in this time we live in is 1,000-1 or something......oh wait 1,000,000-1 you say.....nvm they were screwed from birth.
The truth is most rich people didn't earn it, they got lucky, or had money in their family already.
Sure there are Sam Walton's and Bill Gates out there, but they are 1 in a million, not very good odds for most. Your more likely to be born poor, work your ass off at least 50 hours a week your entire life, and die with less than it takes for an average funeral.
Btw the old " they can work for a better company if they want" line is just pathetic, there aren't any, and if there were, the job would already be filled.
I mean how much does one honestly need? Are the rich truly so empty inside a billion is not enough? Walton family that was aimed at you btw.
reply to post by xuenchen
A business that requires an unfair advantage built on illegal undercompensation of workers and a hidden government subsidy in the form of public assistance for the working poor SHOULD go out of business.
reply to post by NavyDoc
I tell you what. Why not pay every minimum wage worker $500 an hour. Then they can not only afford to feed their families, they could afford a Porsche.
If a blinkered, arrogant viewpoint was a commodity, you'd be laughing all the way to the bank.
Point made, i'm out of here..way too much BS to handle.
IF the rich don't want to pay a living wage. FINE,
don't let THEM make ANY profit..
And next hopefully people will find ways to destroy them. When 10 hungry unemployed people KNOW the rich guy has food. Hopefully they will take the rich out.
If everyone cant be rich then die fighting and making sure NOONE is.