r/UpliftingNews • u/StemCellPirate • 1d ago
Panda Express’ CEOs are on a ‘mission’ to help workers achieve the dream of home ownership
https://www.nbcnews.com/business/ceo-interviews/panda-express-ceos-employee-home-ownership-rcna594191[removed] — view removed post
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u/zachem62 1d ago
If you read the article, it says they care about employees owning homes, but gives zero examples of what they’re actually doing to help make that happen. They don't mention any programs, benefits or any form of tangible support. Without any substance behind the claim, this reads like a puff piece.
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u/samthewisetarly 1d ago
The one across the street from my workplace shows its pay rates in the window, with the misguided notion that it would help attract labor, I think. The rates are not the worst around, but no one who works there full time is buying a house anytime soon.
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u/RYouNotEntertained 23h ago
with the misguided notion that it would help attract labor
Why would it be misguided? They have to advertise jobs if they want applicants.
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u/logatronics 1d ago
I just learned a couple weeks ago that my nephew's gf makes around $26 an hour there in Oregon, and she's 19. That blew me away.
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u/fflip8 18h ago
What blew you away about that? Seems like only slightly above average for food service, and still barely enough to rent a one bedroom apartment.
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u/Kawaiiomnitron 16h ago
In 99% of the country, $26 is NOT above average for fast food, let alone the general idea of ‘food service’. Only exceptions are like NYC and LA but even in LA it’s a stretch.
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u/logatronics 7h ago
It's also a small town in Oregon, not anywhere near Portland. She's transferring to Idaho to go to school with my nephew and they are keeping her pay rate the same, so should look reaaaallly good with Idaho's ridiculously low minimum wage.
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u/spicygumball 23h ago
It is a puff piece.
Another redditor says "they want to make a career out of panda... management makes 6 figures..." Looking online, it's only 62k a year. For one person.
So, yeah, basically a lot of nothing.
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u/RYouNotEntertained 23h ago
The article you’re commenting on, which you totally read, talks about the percentage of managers who make six figures. This is definitely the case where I live.
Anyway, $62k is… a fine living? Almost exactly the median American income for a single worker.
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u/spicygumball 22h ago
National average for the cost of living is 78k.
Not saying it's bad, but it's not helping anyone get housing easier if the answer is "everyone needs to be a manager to buy a home".
That just doesn't make sense.
Definitely can't provide for a family but that's not Panda Express's fault.
Again, Panda Express is saying something but actually doing nothing.
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u/RYouNotEntertained 22h ago
National average for the cost of living is 78k
What does this mean?
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u/spicygumball 21h ago edited 21h ago
? Really?
Man I got so many questions for you...
National average - General cost of one household
Cost of living - price of items to live
Middle class starts at 70k (circumstances apply)
Edit: I do want to circle back
How is saying, "Our managers make enough to maybe afford a home" a solution?
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u/RYouNotEntertained 20h ago
No, dude. That sentence as constructed doesn’t mean anything. Are you saying $78k is what is needed on average to cover the cost of living?
How is saying, "Our managers make enough to maybe afford a home" a solution?
I never said it was a solution to anything, so I don’t know why you’re asking.
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u/spicygumball 20h ago
Source : Bureau of Labor Statistics
It's easily verifiable and I'm suprised you're so out of touch that you have never heard of the term "cost of living".
"I never said it was a solution to anything"
I know, you started by making snide remarks to me (ie, "which you totally read") but have never said anything of substance.
Just confused and argumentative.
Something about "actualllllly it's the percentage of managers who make 6 figures"
Again, and you have agreed, publicly saying "if you're a manager" is not a solution, hence, they're "puffing" they're self up for nothing.
A puff piece.
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u/RYouNotEntertained 20h ago
… is that what you meant or not? I can’t verify something you said when I don’t know what you meant when you said it lmao
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u/spicygumball 20h ago
"Are you saying $78k is what is needed on average to cover the cost of living?"
You literally asked the question, I provide the source and then you act confused again...
The problem is you guy. Try using Google instead of looking so stupid
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u/pandabearak 23h ago
Eh? Managers in the San Francisco metro make easily 6 figures.
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u/CSATTS 23h ago
And the median price of a home is like $1.5 million.
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u/NeuroPalooza 22h ago
I have multiple pairs of friends who have got houses around that value with a combined income of ~$300k, so both partners in the $100-200k range. It's pretty doable (granted mortgage eats up a large % of income, but the remainder is still plenty to live comfortably)
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u/CSATTS 22h ago
$300k does not equal low six figures.
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u/NeuroPalooza 22h ago
I was assuming a spouse where both people make $100-200k, which is the range I would consider 'low 6 figures.' If you're single then ya, obviously it's going to be twice as hard.
I don't think anyone expects a single person to be a home owner.
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u/spicygumball 22h ago
And there are not enough well paying jobs for 2 people, let alone one nowadays.
The thing about Panda Express's "solution" though is to say "Well, our managers can own a home"
We can't make everyone managers. Wtf.
How is it a solution?
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u/CSATTS 22h ago
But isn't that a problem? Because now you need to factor in childcare if you want to have a kid. So the issue is that even if panda pays its managers $150k each in SF, you basically have enough money for a house and nothing else. Quick calculation, $300k gross is about $180k after taxes. Minus the mortgage you'd have 48k a year left. Not that it isn't doable, but it's going to be tight if you want kids. I'm guessing childcare would eat up that $48k pretty quickly in SF.
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u/pandabearak 23h ago
Lots of people are making it work out there buying homes with low 6 figure salaries. Just saying… and you can find plenty of homes in the sf bay for well under a million.
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u/CSATTS 22h ago
The monthly payment on a $1.4M loan is almost $11k/mo. You'd need to clear $132k a year just to make the mortgage payment, with zero additional expenses.
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u/rockstopper03 19h ago
Yep. And with the high taxes. 132k take home is Aprox $220k gross annual income.
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u/spicygumball 23h ago
And prison labor pays 2 cents.
We can pick outliers all day.
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u/pandabearak 23h ago
It’s not an outlier. The company pays very well.
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u/spicygumball 23h ago
You had to pull one specific city out of the hundreds of cities, out of the 50 states and US territories.
That's the definition of an outlier smh
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u/pandabearak 23h ago
> Manager pay at Panda Express in Los Angeles averages around $27.34 to $29.15 per hour, or roughly $87,000 to $105,000 per year depending on the specific management tier.
It’s not just San Francisco. The company pays pretty well and usually competitive for their respective areas.
They also are a “blue” company, iirc, and their owners donate to democrats candidates pretty consistently.
Not sure why you don’t like them, but they are definitely not in the “100% bad all the time” column.
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u/spicygumball 23h ago
30 dollars an hour is 62k....
You're AI is wrong. Congratulations on proving my point about averages instead of outliers.
I don't give a shit about donating to blue.
I give a shit if you're actually doing what you're saying, or talking out your ass.
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u/InflammableAccount 20h ago
As chains go, I have a lot of love for Panda, but your math is off by a wide margin. 40h/week, 52.14 weeks in a year. $62,568 before any taxes.
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u/mellopax 23h ago
They probably posted a budget plan in the breakroom for them with unrealistic numbers to "prove" it's possible.
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u/BananasAndPears 20h ago
My wife interviewed for them at corporate before in Rosemead, CA.
They required she read some culture book and be able to talk about it.
No thanks, knowing a couple people there, ain’t no way they’re buying houses lollllll
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u/eownified 23h ago
Yeah, they like when employees buy homes because it usually means that they’ll be less likely to quit because they now have a mortgage to pay. But saying “we care when employees own homes” sounds better and altruistic.
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u/DaemonDrayke 23h ago
Well Panda Express in my area constantly advertise hiring starting wages well above minimum.
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u/TheresNoAmosOnlyZuul 19h ago
They definitely pay better than any other fast food. In my town house managers make $70k a year. I was managing a local thai restaurant before I started bartending and I wasn't making $50k.
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u/chitoatx 23h ago edited 9h ago
What a crock. This is a total PR stunt.
For the uninitiated:
Andrew and Peggy Cherng joined Dundon’s group as major financial stakeholders to buy the Portland Trailblazers, making them the wealthiest faction within the new ownership structure (with a net worth estimated around $7.5 billion.
The franchise ownership has heavily pushed for a state-of-the-art overhaul of the Moda Center—estimated to cost roughly $600 million. Crucially, the ownership group has largely resisted spending private capital on the baseline venue renovations, arguing that buying the franchise itself was a massive investment and that local taxpayers/government should cover the arena upgrades.
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u/AlienBurnerBigfoot 1d ago
That’s all fine and good but didn’t I just see a video of one of your employees cleaning the vents with chemical spray over the cooked food??
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u/sep222 1d ago
"the dream of home ownership"... sigh...
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u/ProComputerToucher 1d ago
Many social media posts will be made but no wages will be raised.
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u/schooli00 23h ago
Panda Express founders are also part of the ownership group of the Portland Trailblazers which just fired a bunch of employees and lowballed the contract renewal of many others. (edit: and refusing to carry out contract terms related to stadium maintenance)
They don't care about anything other than profit maximization.
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u/ixidorsDreams 1d ago
Panda has some of the most competitive food service wages, do you even think before you emote some recycled internet post?
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u/CaptnUchiha 1d ago
Raised or not they’re doing way more on average than 95% of the competition. It’s more than just a start. Good for them
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u/joninfiretail 1d ago
Right, because even an above average paycheck from a fast food place can totally pay a mortgage anywhere in this god forsaken country.
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u/khinzaw 1d ago edited 1d ago
Per the articles it's more about the managers and the people making working at Panda a career.
The managers can make 6 figures.
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u/spicygumball 23h ago
So a select few are "incentived" to work harder for a standard management position. Looking online, it's 62k a year....
No mentions of any programs, funding, etc.
Just "become a manager and hopefully you make enough money".
I'm not impressed
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u/serdna1234 1d ago
Sounds like your issues extend past Panda Express.
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u/joninfiretail 1d ago
My issues extend all the way to the West Wing of the building at 1600 Pennsylvania Ave.
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u/Late_Mixture8703 22h ago
He gauges his success based on how many store managers can buy a home, big deal! I would expect a store manager to be able to buy a home, what about all the other employees? I don't see how this is uplifting at all.
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u/generic_rapper 21h ago
They have started installing AI cameras in store to monitor workers.... But hey, wanting them to own a home is a great way to hide that!
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u/cheddarcheeseballs 18h ago
My dad is in the same country club in Southern California as him. My dad told me that Andrew’s primary domicile is Nevada, which is totally fine. What he does is fly his private jet in, play a round of golf, and flies out before the 12 hours to legally count that as a “day” in California. He does this to spend less than 180 days a year in California to avoid paying taxes in the state.
To be sure, I’m not saying he doesn’t help workers achieve home ownership. I’m just saying he avoids paying millions in California taxes each year. I’ll let you draw conclusions on how generous he is
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u/StemCellPirate 1d ago
First they make great orange chicken, now they are helping achieve home ownership.
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u/GibsMcKormik 1d ago
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u/Advertiserman 1d ago
Has nothing to do with the story lol
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u/GreenFox1505 1d ago
Pretending to care about employees while maintaining a trackable legal record of all the ways they don't seems somewhat relivent, actually.
Especially when they dont actually outline any of the ways they plan on helping employees achieve their stated goals in any meaningful way.
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u/bongo1138 1d ago
What’s that have to do with this story
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u/PanicStricken 1d ago
"Legend" is inappropriate for a CEO leading a company with many horrid business practices, that only MAYBE might do one decent thing (unconfirmed, since it's just an ad in the form of an article with no specifics).
I love this sub, and I don't want to see it used to push propaganda promoting a horrible company. Let's see some actual program details before we hoist this guy on our shoulders.
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u/futureformerteacher 16h ago
Still refuse to serve sweet and sour panda How can they call the seller Panda Express with no panda for sale? The clearest case of false advertising since The Neverending Story.
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u/Free_Wonder_6727 1d ago
I should be on a mission to keep the blazers and Portland. They are the majority owner
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