transporter
Well-Known Member
Trump and the likes of GURPS, Gilligan, Hijinx, etc. got their little brains all in a tizzy when Fifth Third Bank announced it would offer one time bonuses and small pay raises to workers as a result of the tax cuts.
As Paul Harvey used to say...here's the rest of the story:
https://www.washingtonpost.com/news...ayout-to-shareholders/?utm_term=.ba243dfdc421
The caveat at the end of the second paragraph would have been more powerful for folks like Trump, GURPS, Gilligan, Hijinx, etc. if the author had put a time stamp on the "gap will close". Round up the pay raises and assume the one time bonuses will be paid every year and it will take 56 years for the amount Fifth Third has "invested" in its workforce to equal the amount it is giving back to shareholders.
As Paul Harvey used to say...here's the rest of the story:
On Tuesday, that bank, Fifth Third, said it would buy back as many as 100 million corporate shares, a move that is projected to cost nearly $3 billion....
The $2.8 billion corporate share buyback dwarfs the estimated $48 million cost of the bank's wage hikes and one-time bonuses this year. (That gap will close somewhat in upcoming years, as the buyback is a one-time expenditure and the company will continue to pay out the increased wages.)
https://www.washingtonpost.com/news...ayout-to-shareholders/?utm_term=.ba243dfdc421
The caveat at the end of the second paragraph would have been more powerful for folks like Trump, GURPS, Gilligan, Hijinx, etc. if the author had put a time stamp on the "gap will close". Round up the pay raises and assume the one time bonuses will be paid every year and it will take 56 years for the amount Fifth Third has "invested" in its workforce to equal the amount it is giving back to shareholders.