I won’t be eating at Chipotle restaurants for a while, if ever.
The Guardian had an article that mentioned Chipotle by name.
“As inflation shot to its peak around mid-2022, Chipotle’s prices also rose, pushing up what customers paid for burritos and bowls by as much as several dollars. Since then, the fast casual restaurant’s costs have broadly fallen. Prices have not.
“Chipotle’s decision to maintain high prices helped boost profits 110% in recent years, while its executives boasted to investors that they raised prices higher than inflationary costs.”
There’s a list of companies and their profits in the article. Like Cheesecake Factory, with a fat 471% increase. Won’t be going there, thanks.
TBH, I only visit three of these places and it’s not that frequently. My exception is Starbucks. They’re one of my regular Ashlandia coffee haunts because the local places that I loved are gone. That just sucks.
Meanwhile, as you prepare to vote and you hear people complain of inflation and high prices, mention this article. Also mention that energy companies have seen record profits as well.
And let’s not forget grocery stores.
Face it, boys and girls, as voters scream about inflation and corporations complain about wages, regulations, and taxes, corporate executives are becoming stupidly rich.
All at the nation’s expense.
“… corporate executives are becoming stupidly rich. All at the nation’s expense.” You got that right! And what’s so discouraging is there’s little to nothing that we can do about it. 😡
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Grrrrrrrrrrr … the Plutocracy of Disunited States is alive and well. Pretty soon we’ll have to boycott almost every business except maybe the small locally-owned ones. Somehow we need to send a wake-up call to the billionaire CEOs, and the first step is boycotting, but until everyone gets on board with that, it won’t be enough. Good post, Michael … hugs ‘n cheers
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P.S. I’m re-blogging … thanks again!
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Thanks, my friend. Hugs ‘n cheers, as always. M
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Michael, there is an actual economic term for this. Prices are usually upward elastic and downward inelastic. This means they tend to go up more easily than they come down. It relates to companies trying to squeeze as much profit as possible. Some are more blatant than others like Chipotle. Good piece, Keith
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Yes, that’s a good reminder, Keith; I was part of the corporate world for a while and know exactly of what you write. Thanks for reading and commenting. Cheers, M
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It aint just the USA, Michael. This is happening the world over. It is so widespread I cwnnot even call it a conspiracy, it is basic corporate policy. I read awhile ago, though I can’t remember exact figures: since 1980 “corpirate” salaries went up by hundreds of percentage points, while workers wages have basicly remained the same. (That started as a typo, but when I read it, instead of correcting it, I bolded it!)
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I like it: corpirates. That’s what we’re dealing with. Nice job. Corpirates – immoral power-thirsty corporate elements plundering the world. Sadly, you’re too right, RG. M
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I was about to correct the misspell when I took a good look at it, and thought, “Now there is a typo that needs to be preserved.” So I also used it in my comment on Jill’s reblog. Corpirate has so many wonderful connotations. 😇
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Right on. It’s so apt.
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