business news in context, analysis with attitude

With brief, occasional, italicized and sometimes gratuitous commentary…

•  From the Washington Post this morning:

"Home improvement retailer Lowe’s is offering hourly employees $55 million in bonuses to help offset the sting of inflation, which has remained near 40-year highs all summer, the company announced on an earnings call Wednesday.

"'In recognition of some of the cost pressures they are facing due to high inflation, we are providing an incremental $55 million in bonuses to our hourly front-line associates this quarter,' Lowe’s chief executive Marvin R. Ellison said on the call. 'These associates have the most important jobs in our company, and we deeply appreciate everything they do to serve our customers to deliver a best-in-class experience.'

"Lowe’s is offering this incentive, even as inflation moderated slightly, with gas prices softening in July from their peak the previous month, a welcome sign for the policymakers at the Federal Reserve, which has been raising interest rates to combat inflation.  These bonuses will give a boost to workers at a time when food, housing and other costs remain high, disproportionately affecting the lowest income households. The temporary relief doubles as a retention bonus in a booming labor market that has afforded workers leverage to quit their jobs and negotiate higher wages."



•  Fast feeder Subway said this week that it plans to add automatic slicers to its 22,000 restaurants over the coming year, instituting a program in which employees can use them to slice meat in the morning and afternoon to provide a great sense of freshness.

Meat will not be sliced to order, but this is considered to be an improvement over the current program in which meat is sliced in central facilities and shipped that way to stores.

Wait a minute.  Subway serves actual meat?  I am gobsmacked.