Essentially, Washington D.C. was one of the cities that established raised wages. In Jason Russell’s article, D.C. Lost Restaurant Jobs After Min. Wage Hike, he describes the repercussions placed on employees once the minimum wage was raised. Russell explains that after Washington D.C.’s minimum wage rose to $10.50 an hour in 2015, increases in restaurant jobs failed to keep up with the quick growth it carried during the economic recovery and further explains how restaurant jobs fell by 1,400 in D.C. (Russell 1). This quotation reflects Warren’s cartoon by representing the symbols of the spike and the man being pierced; recalling that the spike in this picture is portrayed as the harm that will be caused to employees due to the hike in minimum wage, and the man representing minimum wage jobs.
Despite this, the U.S. Mint keeps churning out a billion pennies a month.” The complete waste of time and money spent producing these pennies just to be forgotten in the couch cushions is astounding. If every penny is 1.8 cents to produce than the government is giving away 800 million USD every single year. The same article says, “...10 million new useless items punched out by government workers who could be more usefully employed tracking counterfeiters.” In other words, the government isn’t only wasting money on penny production but, also a working staff. U.S. currency could be more protected if it wasn’t for the pesky penny. To sum up, if people took the time to research how the penny was affecting us as a nation we could be closer to the
In 2005, around 5482 stores were operated in 16 countries and engaged 1.3 million associates in the United States and became the second largest employer after the federal government. Walmart was criticised on the various grounds out of which primary issues were as follows: 1. Spoiling the environment 2. Kicking out small as well as big traders out of business 3. Providing insufficient health care aids 4.
Farkas reports that waste removal now costs Goodwill half-a-million dollars a year(..). The Salvation Army thrift store in Surrey alone spends between ..............a month for waste management to privately remove the garbage, with the company usually coming to pick it up once a day. Sometimes the company has to pay for two trips on Mondays to get rid of the overflowing bins of trash. According to the research, from 2011 to 2012, Goodwill’s garbage-related expenses went up 7% and have continued to climb, with a 12.5 % increase across 2012 and 17 % increase in 2013( ….). This increasement surely needs to be changed as it goes against the company 's major
Step One: Identify and define the problem • Wells Fargo, one of the largest banks in the United States was recently fined $185 million because of a widespread scheme that employees created to collect fees and hit sales targets. These employees opened up over 1.5 million deposit accounts that were reported to be not authorized by customers. This scheme has been going on since 2011 without any acknowledgment until recently when customers were being charged with overdraft fees and insufficient funds. Step Two: Analyze the problem • The problem to be analyzed here is exactly why the employees were doing what they did based on the serious legal consequences. The 5,300 employees that were involved in the fraudulent practice opened up over 1.5 million deposit accounts.
Wells Fargo’s “Gutless Leadership” Wells Fargo is one of the largest banks in the United States, with “…more than 8,600 locations [and] 13,000 ATMs” (Wells Fargo Today). Millions of Americans trust them with their finances. However, after a federal investigation, Wells Fargo has admitted to opening up to two million accounts without customers’ permission. While this had financial implications for many customers, this scandal most heavily affected Wells Fargo’s low-level employees. Sales employees were faced with unrealistic quotas and enormous pressure from management.
The company executives were involved in making changes in the balance sheet by removing the securities at the end of each quarter. This type of manipulation eventually led to the fall of the financial services firms. Satyam Computer Services scandal – The chairman of Satyam Ramalinga Raju after having confessed for having manipulated the company accounts was arrested. The company’s auditing partner, PwC was fined $6million by the US Securities and Exchange Commission. It was later revealed that the chairman was withdrawing the salaries of 13000 non-existent employees every month.
If Wal-Mart loses the case, it would cost Wal-Mart company many billions of dollar since the female workers who worked in Wal-Mart Company had been estimated as many as 1.5 billion to 2 million. Wal-Mart stores is the world's biggest retailer that owns more than 8400 stores and had over 2100000 employees worldwide. The law suit was launched in June 2001 that by six female Wal-Mart employees was the class action lawsuit that workers claiming the Wal-Mart company about the promotions, pay, management training and also job assignments. The six women asked for pay back and compensation for all 1.6 million female employees against who has discriminated . A statistical expect ,
On the other hand, in 2013, the industry suffered a huge blow as the company wrote the value of its brand to zero as there was a lot of debt, store closures and staff lay-offs. By the end of the financial year of 2012, it was estimated that Billabong lost $536M. 158 stores have vanished, 75% of its suppliers and 15% of its European staff have gone which forced the industry to sign a $386M deal with Oaktree Capital Management and Centerbridge Partners. Billabong's investment in their retail stores is the reason why they have managed to become a worldwide brand and generated a lot of profit. However, once their brand lost its footing, other competitors stepped into the Australian Market in an aim to overcome Billabong.