Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Colbert to KFC Worker Seeking Higher Wage: 'I Could Be Paying More Than Four Cents More for My Go Cup'

By

On his show last night, the satirical talk show host interviewed a 22-year-old Brooklyn resident who wants fast food workers to earn more per hour and have the right to unionize.

PrintPRINT
Good thing Yum Brands (NYSE:YUM) shareholders have Stephen Colbert on their side. Last night the talk show host invited Brooklyn KFC worker Naquasia LeGrand, 22, to his set and demanded she explain where she gets off asking for higher pay for the work she does.

"Why not work more?" he suggested, later adding: "If you wanted to make more money, why didn't you have the foresight to be a multinational corporation?"

Legrand is a member of Fast Food Forward, a New York City-based group that's also part of a nationwide movement to push for a $15-per-hour minimum wage.

The union-backed activists argue that increasing the minimum wage will benefit the larger economy by making it possible for restaurant and retail workers to save for the costs of education (for themselves or their family), or for job training in another sector, and consume more goods and services.

Some labor experts and economists say that it would be possible for large companies like McDonald's (NYSE:MCD), Wal-Mart (NYSE:WMT), and Yum to bump up wages and benefits for its employees while maintaining profitability. Some combination of reducing executive pay and increasing prices for consumers may be part of the required formula. But consumers would not necessarily see steep increases, as Minyanville reported last year:

To investigate the ramifications of a pay increase for Wal-Mart employees, the UC Berkeley labor research center recently updated its study Living Wage Policies and Big Box Retail. Its findings concluded that if Wal-Mart moved wages to a minimum of $12 per hour, and pushed 100% of the expenses on to consumers, it would cost shoppers an average of $0.46 per shopping visit, or $12.49 for the year. In all, it would be an increase of 1.1% facing consumers, well below the discount Wal-Mart aims to offer shoppers.

Colbert, however, spoke up for the Americans who would be asked to dig deeper into their pockets if LeGrand and others succeed in their mission, saying: "You realize that extra 75 cents per hour would get passed on to a consumer like me? I could be paying an extra 4 cents for my Go Cup."

Watch the show below:



For more on Fast Food Forward and related movements, see:

The $7 Billion Problem of Low-Wage Fast-Food Jobs

What Can Europe Teach Us About Better Pay, Conditions at McDonald's?

Fast Food Forward: 'Civil Rights Movement of Our Era' Gains Momentum

Why Wal-Mart May Respond to Black Friday Strike Threats: Labor Expert


Twitter: @Minyanville

Follow the markets all day every day with a FREE 14 day trial to Buzz & Banter. Over 30 professional traders share their ideas in real-time. Learn more.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE