[Coronita]

http://www.pasadenastarnews.com/social-affairs/20160521/automation-displacing-more-workers-in-the-fast-food-industry

Automation displacing more workers in the fast-food industry

The move toward increased automation at fast-food restaurants is ramping up fast.

Wendy’s revealed last week that it plans to begin installing self-service kiosks at its restaurants by the end of the year — a move aimed at reducing labor costs linked to minimum wage hikes. The end result will be fewer employees.

The trend isn’t likely to end anytime soon, according to Jot Condie, president and CEO of the California Restaurant Association.

Harold Miller, vice president of franchise development for Persona Wood Fired Pizzeria, who also consults for other restaurant chains, put it more bluntly.

“Restaurant profit-and-loss statements simply don’t work when the labor rate is increased to an astronomical number,” he said. “It would be wonderful if the balance sheet worked … but it doesn’t.”

Under newly approved requirements, California’s minimum wage will rise to $15 an hour by 2022. That pay rate might not seem “astronomical,” but it does represent a 50 percent increase over the state’s current minimum wage of $10 an hour.

Last year, 14 cities, counties and states approved a $15 minimum wage through local laws, executive orders and other means, and more pay hikes are in the works.

In the case of Wendy’s, franchisees will decide whether they install automated technology at their restaurants.

In an interview with Investor’s Daily, Wendy’s President Todd Penegor said some franchise locations have already boosted their prices to offset wage increases. The company also plans to introduce a mobile order-and-pay system that’s intended to reduce employees’ work and responsibilities. Additional behind-the-scenes technology could likewise reduce the time it takes for employees to do things such as schedule shifts.

Wendy’s isn’t the only fast-food chain that’s embracing technology to shave costs.

McDonald’s is rolling out “Create Your Taste” touchscreen kiosks that will allow diners to custom-build their own burgers and order anything else on the menu. And about half of Panera Bread’s company-owned stores already have kiosks in place.

The Panera kiosks have iPad-style tablets with a full list of food items. Customers simply swipe their credit card, place their order and grab a seat. When their order is ready it will be brought to their table.

[Coronita]

http://www.huffingtonpost.com/entry/robot-job-replacement_us_569cf3b3e4b0778f46f9f9b3

Robots Will Replace 5 Million Workers By 2020: Report
Automation promises to make many administrative tasks redundant — which could hurt women most of all.

Damn, a liberal leaning article…Immediately discrete the validity of this by 200 points…

Here’s more (older article)
Technology Displacing Jobs: The European Case

Technology Displacing Jobs: The European Case

[Coronita]

http://www.theatlantic.com/business/archive/2015/04/scarce-skills-not-scarce-jobs/390789/

Scarce Skills, Not Scarce Jobs
The “real” challenge technology presents isn’t that it replaces workers, but rather displaces them.

The distribution center, run by Quiet Logistics—a company that fills orders for sellers of premium-branded apparel, is featured in the 60 Minutes episode “Are Robots Hurting Job Growth?” In the segment, Steve Kroft poses the following question to Bruce Welty, the CEO of Quiet Logistics: “If you had to replace the robots with people, how many people would you have to hire?” Welty estimates that he would have to hire one and a half people for every robot, and that the robots are saving him a lot of money.

Why deal with H1-B visas, and illegals, when you don’t have to?

[Coronita]

[quote=bearishgurl][quote=flu].[/quote]Hey, flu . . . I did manage to capture your deleted quote. Would you like me to post it?

:=D

So were you saying here that you WOULD train your replacement if you didn’t initiate your impending absence and you were asked to by your employer?

I can’t quite make out from your post whether you consider yourself to be a “team player” in an industry where these shenanigans are “common.”[/quote]

You know, I thought what I posted and changed my mind because folks have already made up there mind, so do whatever you want to say.

What Disney did was pretty shitty and H1-B abuse does happen in some parts of the business. But like I posted, before I deleted, I’ve never been laid off in the past 20 years and from all the companies that I’ve worked at, primary was in R&D and never had an issue finding something better with better pay 20 years running.

The fact is the matter, is what happens in the industry you read about the worst offenders, and people who aren’t in the industry can extrapolate that into pointing it out to being widespread across industries, even to tech industries unrelated to IT, that’s just being ill-informed. And if well, considering you aren’t in the industry, if that’s what you want to believe, if you say so.

If you want to grind your axe because you enjoy doing that, that’s your choice. Besides you being grossly mischaracterizing the problem, that’s up to you.

And my peers think I’m a team player just fine. That’s why whenever I go, usually a group of people follow me. And like I said, I’ve never had problems finding something better where my total comp package is better than before. And l’m not alone.

For tech/IT, there will always be a fraction of the industry that is cut throat, and there will always be a fraction of the industry in which you have some people that get the short end of the stick because for whatever reasons they are in the wrong place at the wrong time, whether it’s there’s own skills, their timing, or what have you. And those that get screwed tend to be the most vocal about things. But if things were simply that bad that widespread, then the markets would have already taken care of this. People wouldn’t be working in this industry and there wouldn’t be so many people still commanding good comp packages even in this day. So, for those that got the short end of the stick, well sorry. Welcome to life.

I’m done. You and CAR win.

[Coronita]

.

[Coronita]

[quote=no_such_reality]Silly, labor is a small part of the supermarket cost of food.

What’s really driving increases? Consolidation of the intermediaries and major players. i.e. Bayer & Monsanto merging.

Of course, raise prices enough and the average American might actually end up spending more on fresh fruits & vegetables than booze. Today, the average is more is spent on booze than fruits & veggies.
[/quote]

There’s that too. And there’s cost of paying the CEO and the labor unions…. But someone needs to pick the fruit.. Just saying…
Anyway, folks on fixed income who previously said that companies should pay higher wages…Well, you got and will get what you wanted… (Not saying it’s a bad thing for those farm workers)..But for some of you on fixed income, well that remains to be determined..Lol…

[Coronita]

[quote=harvey]
EDIT: I see that flu just posted some credible research.
[/quote]

I’m predicting there’s going to be a rebuttal posta about how CNN is a “liberal” news organization and is not credible, and that the research was doctored to fill a “liberal agenda”… And any moment now, I’m going to be accused of being a far left leaning liberal….Lol. Or that the moderates are now conspiring with the extreme left leaning to push a ultra left wing agenda….

…Even though the research was done by Pew.

The arguments of conspiracy theorists usually ends up that way.

Maybe the issue isn’t the world around you. Maybe the issue is you.

[Coronita]

Don’t let facts get in the way of the hate….

http://money.cnn.com/2016/09/29/news/economy/american-farm-workers/index.html

The worker shortage facing America’s farmers

A recent Pew Research report found that more Mexican immigrants are now leaving the U.S. than coming into the country, citing tougher enforcement of immigration laws and the slow economic recovery here in the U.S. (The report accounted for both documented and undocumented immigrants).
With fewer workers, farm owners say costs are rising and they often must leave unpicked fruit to rot in the fields. Many producers are even opting to leave the U.S. for countries with lower costs and fewer regulations, said Tom Nassif, CEO of Western Growers, a trade organization that represents farm owners both in the U.S. and abroad.
“We’re pretty much begging for workers. It’s very bleak,” he said.

The competition for workers has sent average farm worker wages up 5% in the past year, to $12 an hour, according to the U.S. Department of Agriculture figures. That’s $2 higher than California’s $10 minimum wage, with some farmers saying they pay as much as $15 an hour, according to Nassif.

And costs keep rising. Two weeks ago, California expanded its overtime rules to include migrant farm workers. That means farm owners must pay one and half times the employee’s regular rate after they have worked a certain number of consecutive hours.

With increased competition for labor, workers are also asking for and winning better working conditions, such as a 15-minute shade break for each hour of work.
“If they don’t like how they’re being treated or what they’re being paid, they’ll just go to another farm,” said Nassif.

Still, the increased pay, improved working conditions and overtime benefits have failed to attract many American workers.
“Of the 300 workers I have in the field, two are Americans,” said Joe Del Bosque, a farm owner in Firebaugh, California.

So much for Obama’s open border silliness. Older folks on fixed income, be prepared for a lot higher food costs. But hey, now you can put your money where your mouth is (literally and figuratively)… Looks like even the loaves of bread past the expiration date will be more expensive.

[Coronita]

[quote=svelte][quote=flu][quote=svelte][quote=scaredyclassic]howard stern for president[/quote]

Pretty much what we get if Trump is elected, isn’t it?[/quote]

Uh, no way…. Not even close. Howard Stern is actually very well educated and informed. He’s not an idiot at all.[/quote]

Wow. Whenever I have heard Stern talk (which granted isn’t often because I change the channel again shortly thereafter) the first thing I think is “what an idiot”.[/quote]

Granted he didn’t grad from a prestige school, he really isn’t an idiot.
[quote]
He graduated from the school in 1972;[22] his year book lists Stern’s sole student activity, a membership in Key Club.[23]

In 1972, Stern declined a place at Elmira College to instead pursue a Communications degree at Boston University,[24] but his average high school grades caused him to spend the first two years in its College of Basic Studies.[25] In his second year he started work at the campus radio station WTBU, where he played records, read the news, and hosted interview programs.[25] He later co-hosted a weekly comedy show with three fellow students named The King Schmaltz Bagel Hour which was initially cancelled during its first broadcast for a racial sketch named “Godzilla Goes to Harlem”.[26] Stern took cannabis, Quaaludes, and LSD during his studies, but quit after he experienced a difficult trip on too much LSD.[18] In 1974, he gained admission to the university’s School of Public Communications.[27] He then studied for a diploma at the Radio Engineering Institute of Electronics in Fredericksburg, Virginia in July 1975 which earned him a first class radio-telephone operator license, a required certificate for all radio broadcasters at the time which was issued by the Federal Communications Commission.[28][29] With the license, Stern landed his first professional radio job at WNTN in Newton, Massachusetts from August to December 1975 doing air shifts, news casting, and production work.[30] For the next five months, he taught students basic electronics in preparation for their own FCC exams.[30] In May 1976, Stern graduated magna cum laude with a 3.8 grade point average. His major was broadcasting and film and his minor English and speech.[25] In the past he has funded a scholarship at the university.[31]

[/quote]

Compare that to Rush Limbaugh’s credentials

[quote]
Limbaugh began his career in radio as a teenager in 1967 in his hometown of Cape Girardeau, using the name Rusty Sharpe.[7][10] Limbaugh graduated from Cape Girardeau, Missouri Central High School in 1969. He played football.[11][12] Because of his parents’ desire to see him attend college, he enrolled in Southeast Missouri State University but left the school after two semesters and one summer. According to his mother, “he flunked everything,” and “he just didn’t seem interested in anything except radio.”[7][13]
[/quote]

[Coronita]

[quote=tnuomarap]Are capital gains taxes typically withheld @ close of escrow?[/quote]

nope

[Coronita]

[quote=svelte][quote=scaredyclassic]howard stern for president[/quote]

Pretty much what we get if Trump is elected, isn’t it?[/quote]

Uh, no way…. Not even close. Howard Stern is actually very well educated and informed. He’s not an idiot at all.

[Coronita]

[quote=SK in CV]S&P futures up $16 on Trump’s debate sniffles and Clinton kicking his ass.[/quote]

Unfortunately I went from 50% to 25% stock today, just in case things get crazy. I’ll re-enter after November if the conditions warrant it. I just hope the markets got this result right.

MY favorite line was when Trump said “Paying No Income Taxes ‘Makes Me Smart’”

Lol…So much for being for the working class…

[Coronita]

[quote=earlyretirement][quote=flu][quote=AN][quote=ocrenter][quote=flu-redux][quote=The-Shoveler][quote=flu]

Carlsbad now.[/quote]
Wow, close to my end of town.

Living or just working?

Carlsbad has grownup a lot in the last 10 years, kind of spilling over into the surrounds as well.[/quote]

Working, though the thought of getting a second home has crossed my mind.[/quote]

well at least you are going against traffic.

gonna be difficult to arrange a lunch get-together then…[/quote]There’s always Carmel Valley as a place in the middle.[/quote]

True. On one day each week, we’re required to take a 3 hour “recess” after lunch. I usually take that time to run on the beach. But I don’t mind driving a little bit to meet for lunch. Getting to RB though was tough. Last time I dropped my car off for a recall, it took me like 1hr 30 minutes one way.[/quote]

Hey flu! You’re still on my list of have to meet posters. I’ve met several posters from Piggington and all were really grounded, intelligent people. Definitely we’ll have to meet up. Let me know if you and ocrenter meet up for lunch and I’d love to meet you as well.

I haven’t read the forum in a long time but ocrenter told me about his post so I had to check it out. I had lunch with Rich a few months ago and was great catching up. Miss reading this board.[/quote]

Absolutely. Sorry, guys I’ve been neglecting a meeting in person because it’s the start of the school year, and I think I’ve over-committed during the day to what I said I was going to volunteer for between coaching sports and math/science leagues at my kid’s school. I’ve also got a few product launches at work we’ve need to get done before holiday sales starts, and even though my team is “done”, we’re waiting on others, and often what they do ends up making us do last minute changes, which we won’t find out, until, well the last minute, lol.

Maybe this week, we’ll see how things went over the weekend with the other team we’re counting on. If not, workload should drop off significantly towards the end of October. I have about 5-6 weeks of vacation I’ve scheduled thereafter.

[Coronita]

[quote=SK in CV]
No can do. Replacement must be identified within 45 days, and transaction closed within 180 days of disposition of original property. These rules (as codified in 1979) are the result of a SC case, a guy named Starker, who attempted just what you’ve described, keeping the funds in hands of the buyer for up to two years and acquiring 12 pieces of replacement properties over that time. Starker partially won his case. Laws were rewritten to allow the deferred exchange with specific rules. Huge case when it went down, with expectations of a huge increase in tax free exchanges. Never really happened. They’re still pretty rare. People just don’t plan that well. Even when they are done, they’re often done wrong.[/quote]

Thanks CV. I’m not planning to sell just because for me, my rentals do pretty well on a cash flow basis, and I’m hoping I can use this as if it’s my private pension for retirement, for some of us that don’t have the luxury of a pension 🙂

I was just curious because the internet is filled with things about “Deferred Sales Trust”, and the way people talk about it suggested it was an alternative to a 1031 exchange. I know, if it’s posted on the internet, it must be true! (lol)…I was just curious if there was some corner case in that is would be an alternative to a 1031, and if so, how it would work, no matter how complicated it would be. But what you are saying is that, there is no alternative to a 1031 exchange.

For example:
http://www.exeter1031.com/deferred_sales_trust.aspx

is suggesting…
[quote]
First, Investors must realize that the Deferred Sales Trust is a relatively new tax-deferral strategy. It should only be used by sophisticated investors who can understand and accept the risk of using a new and untested tax-deferred strategy.

Generally, the 1031 Exchange is a better tax deferred strategy for most investors. However, the Deferred Sales Trust may be an alternative tax-deferred strategy when you do not wish to, or can not, acquire like-kind replacement property through a 1031 Exchange.

[/quote]

That’s what got my attention and curiosity

[Coronita]

[quote=SK in CV][quote=flu]So question… Anyone know what a ” Deferred Sales Trust ” is, and how is it different from a 1031 exchange?[/quote]

A “deferred sales trust” is where the cash goes in between the sale of the 1st property and the purchase of the 2nd property for a 1031 exchange. Typically done by what’s called a 1031 accommodator.[/quote]

Can it be used to defer capital gains to prolong when you need purchase a replacement property ? If so how does it work?

For example, hypothetically, if I think real estate is at peak, and sell now, but want to wait, for example, 2 years before I buy a replacement property, is there any way to defer the capital gains from the sales of the first property by using some legal way to extend a property “exchange”?

[Author]

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