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Oct 17 - Domino's CEO says U.S. needs more immigration to address worker shortages



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 2 months ago '17        #1
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Ifeellikekobe  topics gone triple plat - Number 1 spot x3
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Oct 17 - Domino's CEO says U.S. needs more immigration to address worker shortages
 

 
-Domino's Pizza CEO Ritch Allison told CNBC's Jim Cramer the American restaurant industry is being hurt by a slowdown in immigration.

-"In the U.S. with minimal population growth organically, we do — we need immigration in our industry to continue to have enough team members," Allison said.

-Cramer on Friday called his conversation with Allison "sobering" and "shocking."


Domino's Pizza CEO Ritch Allison told CNBC's Jim Cramer the American restaurant industry is being hurt by a slowdown in immigration to the country.

"It's a challenge. In the U.S. with minimal population growth organically, we do — we need immigration in our industry to continue to have enough team members," Allison said on "Mad Money."

"Folks who want to work hard, want to stay with the business for a long period of time, can end up being owners and entrepreneurs," he added. "As I travel around the country and talk to our franchisees, so many of whom followed that [immigration] path, it's inspiring. ... It truly is."

Allison's comments Thursday came after the pizza chain reported third-quarter results, beating Wall Street's expectations on earnings per share but falling short on revenue and same-store sales. The company's U.S. same-store sales actually declined for the first time in a decade, falling 1.9% on a year-over-year basis.

Domino's attributed some of the domestic sales dip to challenges around hiring workers to adequately staff its stores. It served as the latest example of companies calling attention to the difficulties of filling open jobs as the economy recovers from a pandemic-induced recession.

In his Friday morning note to CNBC Investing Club members, Cramer wrote: "The labor shortage issue is VERY serious... need more births and immigration, according to DPZ CEO Ritch Allison last night on Mad Money."

Reflecting further on conversations with Allison, Cramer said on CNBC's "Squawk on the Street" on Friday that it was "shocking" and "sobering."

"Ritch Allison started, I think, a conversation that we're all going to have to talk about," Cramer said. "We don't have population growth in this country. ... But more importantly, he's saying, we cut off immigration. We stopped it, but the great thing about our country is immigrants come in, they become drivers. Next thing you know they own a Domino's, then they own several places. That's ending. We literally have to start thinking about an immigration policy that involves taking in people."

"Think about that. What kind of discussion is that when, not that long ago, the idea was that we've got to keep people out," Cramer continued, alluding to former President Donald Trump's hardline immigration stance.

In 2016, the year Trump was elected president, net international migration added just over 1 million people to the U.S. population, according to the Census Bureau. In 2019, that number fell to a decade low of 595,000.

According to the 2020 Census, the U.S. population grew by 7.4% between 2010 and 2020, which is the slowest growth rate since the 1930s, when the country was in the throes of the Great Depression.

visit this link https://www.cnbc.com/amp/ .. shortages.html
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30 comments
 

 2 months ago '08        #2
cohs  topics gone triple plat - Number 1 spot x11
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We need fresh suckers!
+12   

 2 months ago '04        #3
NAKHI ALLAH 
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This not going to go over well
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 2 months ago '10        #4
acegutta22  topics gone triple plat - Number 1 spot x1
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How about paying people a living wage how about that being an option
+33   

 2 months ago '11        #5
Joseph  topics gone triple plat - Number 1 spot x1
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I just ate some Domino's, I got the brownie and a small pepperoni pizza with some Coca Cola. They had a bunch of young a*s Black people and one Hispanic girl in there. Those are the only people going for those bullsh*t jobs nowadays.
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 2 months ago '19        #6
aaf192020  topics gone triple plat - Number 1 spot x3
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Shxt pizza doesn't deserve to be bought at such an extravagant price. I'd rather pay more for a legit pie than pay too much for a subpar one. That why I don't support dominoes or pizza hut. I hope they go outta business so smaller more passionate pizzerias get that bread, pun intended.
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 2 months ago '06        #7
authenic 
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Like I ain't just send...nvm ...
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 2 months ago '16        #8
theidiotlamper 
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 2 months ago '21        #9
BigChiefLA 
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What race is the Domino’s CEO?
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 2 months ago '14        #10
2 cent 
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Foh. Raise your wages to meet the demands and you will have staff lining up around the block. Cheap fu*k
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 2 months ago '21        #11
FRAZZELDRIP 
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Spoken like a true piece of sh*t
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 2 months ago '20        #12
Habeas Corpus  topics gone triple plat - Number 1 spot x5
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 2 months ago '21        #13
FRAZZELDRIP 
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 Habeas Corpus said

U can look at this demon and tell he's down with the agenda.

There's always mfs that always wanna see a bunch of fu*king immigrants come to America to make the quality of life worse here like how we basically lost Afghanistan 85 billion in equipment and had refugees come here and they act like it's a good thing cause they know for a fact they're destroying America while bringing naive people that are dumb enough to do their bidding and vote for them to keep fu*king sh*t up.

If anything is an insurrection it's that.
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 2 months ago '06        #14
LeMar G 
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minimal population growth organically



Birth rates were down and now covid doing its thing

aint gone make it
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 2 months ago '21        #15
LuxG2  topics gone triple plat - Number 1 spot x1
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They are going to do this in all industries to replace the workers that left from covid…it was all over the news a few weeks ago.
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 2 months ago '17        #16
Ymmot  topics gone triple plat - Number 1 spot x5
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 theidiotlamper said

Great doc
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 2 months ago '17        #17
Ymmot  topics gone triple plat - Number 1 spot x5
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 LuxG2 said
They are going to do this in all industries to replace the workers that left from covid…it was all over the news a few weeks ago.
It's how our country has worked forever. We've always needed immigrants to work low wage jobs.
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 2 months ago '17        #18
Ymmot  topics gone triple plat - Number 1 spot x5
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 FRAZZELDRIP said
Spoken like a true piece of sh*t
You mean a capitalist? Don't you trump supporters worship capitalism and hate raising the minimum wage and labor unions....
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 2 months ago '19        #19
ITL  topics gone triple plat - Number 1 spot x6
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 Ymmot said
It's how our country has worked forever. We've always needed immigrants to work low wage jobs.
This is corporate America though, not the lunch pail Industrial era.

They outsourced the jobs overseas 25 yrs ago, now they’re trying to outsource them domestically.

Gotta love these corporate globalist economists ever since NAFTA was signed

NAFTA’s Legacy:
Lost Jobs, Lower Wages, Increased Inequality





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 2 months ago '20        #20
Xiox  topics gone triple plat - Number 1 spot x1
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This is the problem , these shameless wyte men hate minorities but love to not pay a decent salary while raking in millions
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 2 months ago '12        #21
daman729 
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White ceos have been doing this sh*t for years smh. Hiring immigrants for American jobs and paying them less. Just look at call centers. Half of the workers can barely speak English. And thats just one industry example. They get the job because they're willing to get paid less. And the greedy a*s ceo manipulates that sh*t.
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 2 months ago '17        #22
Ymmot  topics gone triple plat - Number 1 spot x5
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 ITL said
This is corporate America though, not the lunch pail Industrial era.

They outsourced the jobs overseas 25 yrs ago, now they’re trying to outsource them domestically.

Gotta love these corporate globalist economists ever since NAFTA was signed

NAFTA’s Legacy:
Lost Jobs, Lower Wages, Increased Inequality





If you ever want to learn about the history of this country you'll see that hiring immigrants for low wages pre-dates nafta. But I guess Republicans and conservative Democrats, aka the staunchest capitalists, shouldn't have championed nafta so hard.
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 2 months ago '19        #23
ITL  topics gone triple plat - Number 1 spot x6
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 Ymmot said
If you ever want to learn about the history of this country you'll see that hiring immigrants for low wages pre-dates nafta. But I guess Republicans and conservative Democrats, aka the staunchest capitalists, shouldn't have championed nafta so hard.
Completely different landscape, what happened in the past is apples to oranges.

And like everything else, they have the villains (Republicans) start something and then the “good guys” (Democrats) further the process by filling in more pieces to the puzzle while the public blindly supports it because “the good guys” are in charge.

Clinton completed the globalization and began the depletion of the middle class agenda

Obama furthered the post 9/11 agenda with the Patriot Act/NDAA, empowering and growing the police state etc

Biden admin is now doing the same sh*t
Trump started with the border, Covid restrictions, police etc.

Too many people life in the left right paradigm and need to realize sh*t gets implemented no matter who’s at the helm
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 2 months ago '17        #24
SPdaGOAT  topics gone triple plat - Number 1 spot x5
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They making the play too obvious
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 2 months ago '12        #25
DannyStr8G 
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if these immigrants work hard he can buy a new lambo next yr
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