Bank Of America Downgrades Chipotle For Paying Workers Too Much | Soshal Network, Social Circle Connection

Bank Of America Downgrades Chipotle For Paying Workers Too Much

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"FINANCIAL INSTITUTION OF AMERICA Merrill Lynch reduced Chipotle and also advised financiers that the supply will "underperform," complaining that the restaurant chain is paying its workers too much, and that cutting labor expenses better will be challenging for the chain. Watch the complete episode right here:

" We are downgrading Chipotle to Underperform from Neutral as we believe, assuming no significant tax reform, that 2018 and 2019 agreement EPS has to go down at the very least 10 percent," analyst Gregory Francfort told CNBC Wednesday. "We believe more gains from trimming hrs will certainly show hard which limits the possibility to get labor below 27 percent of sales also if web traffic recovers."

Yet Chipotle agent Chris Arnold called Bank of The U.S.A.'s evaluation "problematic and unreliable," including that the restaurant chain hasn't already cut staff member hrs but lately increased hours together with the addition of queso to the food selection." *.

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26 comments

  1. Posted by Yairo Martis, at Reply

    The big corporate banks desperately want to squash employee salary and benefit policies like Chipotle’s, because they’re afraid it will catch on in other restaurant businesses and inustries. THIS is class warfare.

  2. Posted by gerard bain, at Reply

    If it wasn’t for government intervention Bank Of America would have folded during the recent financial crisis. They couldn’t handle their own financial situation and yet they are casting aspersions on others?

    • Posted by gerard bain, at Reply

      @ nexus 1g So you are saying financial institutions don’t determine the conditions on which people receive loans? You expect me to believe that it was Fannie Mae and Freddie Mac that caused the Global Recession of 2008 (which most of the world has yet to fully recover from by the way)? I hope you aren’t that deluded to believe such foolishness and you are just a troll trying to get attention.

    • Posted by Purvi Patel, at Reply

      nexus1g nobody forced them to buy substandard mortgages and commit fraud by bundling and selling them off as Prime mortgages. Yes, the government sold itself and lowered the regulations keeping investments and mortgages separate, but those banks did it to themselves for nothing more than greed. It was also the banks that passed those loans in the first place that allowed people to buy homes they couldn’t afford…

    • Posted by nexus1g, at Reply

      gerard, if the conditions that are required for a loan to be low-risk are falsely lowered by government intervention through Fannie Mae and Freddie Mac, then these companies are simply doing the behavior the government wanted to see. You have no idea how powerful Fannie Mae and Freddie Mac were. They could buy garbage, extreme-risk loans by the boatload, and as soon as they did that it was guaranteed by the government. They could then turn around and sell those loans for an immediate profit. Republicans wanted to set up a regulatory committee to oversee these two institutions because, as Bush wrote in the FY02 budget, “financial trouble of a large GSE could cause strong repercussions in financial markets, affecting Federally insured entities and economic activity.” If you search around, you can find CSPAN footage of these hearings, and you see it’s a very partisan issue with Republicans wanting to regulate GSE’s and Democrats not wanting to.

    • Posted by nexus1g, at Reply

      Purvi, it was Fannie Mae and Freddie Mac that bought the mortgages and sold them off as government guaranteed. And this is what the government wanted. They wanted it easy for people to get home loans. The _Democratic_ side of the government got what it wanted, and it crushed itself because Democrats wouldn’t know sound fiscal policy if it fell out of the sky and wriggled on their face. Even after the scandal regarding the books at Fannie Mae, the Democrats were STILL blocking regulations.

  3. Posted by only half bad 333, at Reply

    I’m protesting by getting chipotle. Wish my butthole luck.

  4. Posted by aldi404, at Reply

    Bank of Assholes is more like it

  5. Posted by Caroline Nickerson, at Reply

    Go Chipotle! Their food is really tasty too.

  6. Posted by C Robinson, at Reply

    The minimum wage in Ontario Canada has been increasing every year since 2004. Year after year at my McDonalds sales have been increasing every year. Coincidence?

    • Posted by Danica Lee, at Reply

      Meanwhile all the McDonalds’ in my city are automating and getting rid of their employees more and more every year. Coincidence?
      Not that I’m complaining. The fewer dim-wits with an attitude who are handling my food the happier I am.

    • Posted by C Robinson, at Reply

      Danica Lee are you from America or Canada?

  7. Posted by Scott Logston, at Reply

    Im downgrading Bank of America, from a evil bank to a Joke”. HA – take that BoA… 🙂

  8. Posted by Sarah Whyte, at Reply

    I wish Chipotle had been the fast food restaurant exported by America all over the world and not McDonalds so I could support a company that seems to treat its staff like humans. I don’t think we even have a Chipotle in Scotland!

    • Posted by Svitlo37, at Reply

      Sarah Whyte Your weak whiskey soaked bowels would prolapse under the incredible pressure of mexican mudbutt

    • Posted by David Beale, at Reply

      Svitlo37

      What is Wrong with you?

    • Posted by Svitlo37, at Reply

      David Beale A sense of humor?

    • Posted by thefirstcut, at Reply

      Taco Bell opens in December

  9. Posted by David Beale, at Reply

    Chipotle’s for dinner tonight.

  10. Posted by jakob clark, at Reply

    Wait chipotle isn’t struggling, it’s one of the biggest business in America. Lolololol

  11. Posted by Ab Pa, at Reply

    I’m not going to Chipotle once a week anymore.Make it TWICE from now on.

    • Posted by Lost One In Search Of Knowledge, at Reply

      Ab Pa yeah that will show them… not really lmao !

  12. Posted by Diatonic5th, at Reply

    I closed my account at Bank Of America 5 years ago and moved my money to a credit union. One of the best moves I ever made.

  13. Posted by terry hollands, at Reply

    Time to eat at Chipotle.

  14. Posted by Benevolent Witness, at Reply

    More evidence that poverty isn’t about laziness, it’s about greed.

  15. Posted by L vamp, at Reply

    Bank of America and other cooperation stay out of this, you guys are the problem you people are stopping us when improving the economy, before you can explain what chipotle is doing is wrong explain what you guys do and how much you paid your worker and give us suggestions.