Ha! I looked around for the numbers, and are these the guys you want to raise wage levels on? Swift and Company (lots of meat on the website, so I assume so).
swiftbrands.com
Swift & Company, the world’s second-largest processor of fresh beef and pork products, today reported net sales of $2.4 billion for its fiscal first quarter ended August 28, 2005, down 4 percent from fiscal first quarter 2005.
The Company's first quarter EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) was $29 million,
That's EBITDA, not even operating margin, but their EBITDA margin is barely over 1% (29 million over 2.4 billion). Go get them John, record profits in the meat packing industry!
Raise that company's salary payments much, and they are either bankrupt if their balance sheet is weak, or immediately downsizing their labor force if they can afford the severance costs.
Swift fiscal 2006 (Aug) EBITDA margin is about 1.5%. Perhaps MSFT is reporting record profits, but the industries where illegals work are likely not (unless you got info to indicate otherwise).
Your idea may have sounded good (to you), but it doesn't hold up. |
