Black People : 7-Eleven Stores Operated 'Modern Day Plantation System,' Feds Claim

Discussion in 'Black People Open Forum' started by Clyde C Coger Jr, Jun 17, 2013.

  1. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    In the Spirit of Sankofa,




    ... SMH, :qqb002: ... :facepalm:


    7-Eleven Stores Operated 'Modern Day Plantation System,' Feds Claim

    [​IMG]
    ABC News - 7-Eleven Stores Operated 'Modern Day Plantation System,' Feds Claim (ABC News)

    The owners of 7-Eleven franchises in New York and Virginia created a "modern day plantation system" in which undocumented workers were furnished with stolen identities and forced to work 100 hours a week for a fraction of their wages, according to a federal authorities.
    Ten stores in New York and four in Virginia were seized today as part of the federal investigation which found the undocumented workers from Pakistan were given identities stolen from children and the deceased, according to federal prosecutor Loretta E. Lynch.
    "The 7-11 franchises seized today will be better known for their big fraud than their Big Gulp," said James Hayes, special agent in charge of the Immigration and Customs Enforcement's office of investigations in New York.
    http://gma.yahoo.com/7-eleven-store...on-system-190034453--abc-news-topstories.html


    Peace In,
     
  2. Therious

    Therious Banned MEMBER

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    wow,

    I remember living in Virginia most of the 7-11's were staffed with Fillipino employees. They were rude and hateful towards black people. Guess I know why now.....if this is true.
     
  3. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    Could be bro. Therious, apart from what could be a natural dislike for black folk.


     
  4. Therious

    Therious Banned MEMBER

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    right,of course we don't know which stores or locations or how many if it is true. so knowing what I know of Fillipino culture probably mostly the latter you mentioned,sorry to get off of topic. Interessting story though..... 7-11's don't make huge profits unless you own like 5 or 10 and make it up on volume,maybe slavery is how they curtail their losses...geeze
     
  5. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    ... Point!



    7-Eleven Franchise Review

    Posted by Karl Keller (Business Owner & Editor)
    Back in 1927, Joe C. Thompson, an employee of Southland Ice Company in Dallas, Texas, began selling milk, bread and eggs in addition to the ice blocks. Eventually, Thompson bought the Southland Ice Company and named it the Southland Corporation and began opening convenience stores.The first one that was opened was called 'Tote'm' but in 1946, was changed to '7-Eleven' because the stores were extended from "7 a.m. to 11 p.m".
    7-Eleven started franchising their stores in 1964 and now approximately 6 million customers visit 7-Eleven stores in the United States and Canada each day, buying items such as milk, wine, bread fresh-food items and gas. At the time of this writing 7-Eleven is ranked #3 of the top 500 Franchises in the world by Entrepreneur Magazine.

    Store Owner Quotes

    7-Eleven Income Potential? So you're thinking about buying a 7-Eleven and would like to know how much money you could make.
    Well, contrary to popular belief, 7-Eleven owners don't typically make Hundreds of Thousands of Dollars.
    What they make varies greatly on their individual store, but here are some rough estimates:
    To get a very rough idea of the income a 7-Eleven can produce, just take 5% of store sales.
    So a store that does $1,300,000 in sales will make roughly $65,000.
    For a slightly more accurate forecast, you will need the following key factors to determine the possible income:
    Store sales
    Store GP% - how much out of every dollar you actually keep (roughly 36%)
    GP split with 7-eleven, 48-52 for the typical store (in favor of 7-Eleven) but will be worse if this is a high volume store, since your GP percent decreases as your total GP dollars increase.
    Payroll (including taxes & benefits) - A rough guideline is about 9% of sales, but this will increase if you choose to have a full time manager, get more traffic, or sell a lot of coffee.
    Other Expenses - A rough guideline is about 3% of sales, but could change significantly with inventory & cash shortages.
    Based on these factors, a typical store without gasoline having sales of:
    $900,000 * 36% GP * 49% split = $158,800 GP - $108,000 expenses = $50,000 income
    $1,300,000 * 36% GP * 48% split = $224,600 GP - $156,000 expenses = $68,000 income
    $2,000,000 * 36% GP * 47% split = $338,400 GP - $240,000 expenses = $98,000 income
    These are still rough numbers, but I would guesstimate that the standard deviation is about $10K, meaning that 95% of all 7-Eleven's with the above sales will have incomes between $50K - $100K with a variation of +-$20,000 depending on the operations of the specific store.
    So the overall range for the income of a 7-Eleven (without gas), with sales between $900K - $2mm is between $30K - $120K. (September 2008)

    http://franchisewisdom.com/7-eleven-review/
     
  6. Clyde C Coger Jr

    Clyde C Coger Jr going above and beyond PREMIUM MEMBER

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    7-Eleven Cracks Down on Franchisees After Federal Authorities Seize 14 Stores




    The corporate office of 7-Eleventold its 5,600franchise ownersof the chain'sconvenience storeson Thursday that it was requiring an internal review of personnel files afterfederal authoritiesseized 14 stores in New York and Virginia this week that employedundocumented workersin a "modern-day plantation system."
    The owners of the 7-Eleven franchise stores allegedly forced undocumented workers with stolen identities to work 100 hours a week for a fraction of their wages, according to federal authorities.
    Ten 7-Eleven stores in New York and four in Virginia were seized on Monday as part of the federal investigation that found the workers from Pakistan were given identities stolen from children and the deceased, according to federal prosecutor Loretta E. Lynch.

    http://news.yahoo.com/7-eleven-cracks-down-franchisees-federal-authorities-seize-012317502.html
     
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