.. Sounds like Hyatt is just cutting costs prior to going public.
stocks.investopedia.com
#25 | Posted by northguy3 at 2009-09-25 11:49 AM
DING! "The winner, it is you. Make your time."
I knew this was an unfair competition model, and we've seen this done in every sector during the last 8 years, particularly healthcare and technology. So, we also know that they thrive off lowest-income workers, particularly if they don't get reported as an expenditure, yet pay their income taxes.
I don't care what a hotel wants to pay its employees - if they are paid so low that they do a bad job, then nobody will go to the hotel. If they want to pay the executives $10B and the workers 5 cents, then that's their right. Just like you have the right not to go to that hotel. It's none of the governor's business.
#36 | Posted by JOE at 2009-09-25 04:49 PM
So, if everyone paid the minimum wage that would be fine with you? Is that the purpose of minimum wage - to suggest a standard of living or to enforce one?
How many of you go to a store and search for a bargain? If you do, then you engage in the exact same practice as Hyatt is engaged in. When you buy a cheap generic brand of product, instead of the old standard but higher priced national brand, you are affecting the employees of both places.
How would you react if you were forced to buy that higher priced brand? There is a word for that. It's 'SOCIALISM' and it does not work. It is killing america just like it has killed every other country where it has been tried.
#19 | Posted by Lipzoidial at 2009-09-25 07:32 AM
But can you haggle for a lower price at Safeway? No. You are going to pay whatever they are priced at. No less. If food becomes too pricey, you mean for people to starve?