Starbucks’ new CEO faces backlash over 1,000-mile commute to Seattle office
https://www.theguardian.com/business/article/2024/aug/21/starbucks-ceo-backlash-super-commuteOpen linkView original on lemmy.world390
Comments28https://www.theguardian.com/business/article/2024/aug/21/starbucks-ceo-backlash-super-commuteOpen linkView original on lemmy.world
I don't understand why they think he's worth this much money and effort when by all accounts Chipotle is a shell of its former glory
This is the only metric that boards care about when hiring CEOs:
It won't last. It just takes awhile for consumers to figure out that your product is now shit.
Most people aren't visiting every day to notice the price increases or the quality decreases. And the first or second time it's often written off as just an outlier.
Of course there's variance per customer, but it takes a couple years before you really earn the shitty reputation of something like Dominos circa 2014. In the meantime, line looks like this before it drops. And by that time you're CEO of a different company.
you underestimate how corrupt, short term and opportunist the markets are I think
Yeah it’s like a big cult, the real market doesn’t matter to anyone, they just rotate CEOs when that hits. It’s always and forever about next quarter growth, nothing else matters.
They don’t care about long-term, line must go up now. If he can do a similar stock price pump in the next few years to Starbucks by cost cutting and some bullshit projects, they will be rich and happy.
Cause gutting doublebucks is the plan
Absolutely. Jack Welch's rotting corpse requires further tributes. The product isn't what matters, just the line going up.
The Behind the Bastards episodes on this dickbag is a solid listen.
solid like a fresh, crunchy cool ranch dorito
Umm....what??? Lol
Chipotle failed to unionize and I bet short term profits are up.
Fascinating
I keep hearing it's much worse than it used to be, profits regardless
It entirely depends on which Chipotle you walk into on what day at what time. Their ingredients are still good. There's just no consistency. It was never cheap, but at least it's still (usually) a lot of food.
Mountains in cash via underpaid labor. Hope the movement to unionize fucks all these tyrants.
If he wants to commute, fine so long as he has to take a regular commercial jet like the rest of us.
Get there two hours early, check in, go through airport security, wait at the gate, then board. Then do it again at the end of the day.
We'll see how long he could put up with that before thinking he should really not try to commute 1,000 miles away.
to be fair when you commuter travel you rock up like 5 min before gates close and use CLEAR or TSA back in the day was enough
If it's the company jet do they get to write of its usage?
If so, this isn't a commute. You drive your own car at your own expense for a commute. I'm sure people wouldn't mind as much if they had a company car and a driver for their commute.
No, he faced backlash over wasting fuel, which is running out, and creating more carbon emissions, which are killing all of us, including this fucking dumb ass.
He’s a venti piece if sh*t.
Won't someone think of the restricted stock units???
So does he pay income taxes in Washington or California?
He's rich so probably neither
Well, there's no income tax in Washington, but I think technically you're supposed to pay based on where you physically work. So, if he's only working 3/5 days in Washington, that's only 60% of his salary that falls under Washington's rules.
That's not how it works. What matters is the state of your residency and the state that your paychecks come from. If you get paid in a state you don't reside in, you have to file in both, unless there's a reciprosity agreement. Many states will allow deductions for income tax paid in another state. So for example if the state your employer is in has a 4% rate, and the state you reside in has a 6% rate, then you'd end up paying 4% to state A and 2% to state B. It is possible to get double taxed depending on which states are involved.
So the CEO will at the very least have to file in California.
I'm pretty sure that you're talking about applies when an employee lives in one state full time, but receives a paycheck from a company in a different state. They may live near the state line and commute across the border, or they may be fully remote, but either way, their work is consistently happening in the same location.
In this case, he's working part time in California, and part time in Washington. The exact laws vary by state.. in some states, your tax liability begins on the day you start working there, while others have a certain threshold, but I'm pretty sure he's crossing whatever threshold there might be. So for the days that he's working in Washington for a company based in Washington, Washington income taxes apply, and for the days he works from California, California income taxes apply.
Since Washington doesn't have an income tax, and California does, he will still definitely have to file in California.
Quick and informative. Thanks.
He should feel shame, but you know he doesn't. Only a sociopath would have bought-in to such a plan.