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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 387.98+1.3%Nov 28 4:00 PM EST

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To: bart13 who wrote (118214)4/17/2016 7:25:11 PM
From: bart13  Read Replies (1) of 218106
 
How White Castle Will Adjust to a $15 Minimum Wage in New York… and it’s not an adjustment that will be favorable to workers…. according to a National Review report by Mark Antonio Wright:
In the hyper-competitive restaurant industry, margins are slim — White Castle VP Jamie Richardson says that, in a typical year, White Castle hopes to achieve a net profit of between 1 and 2 percent — and if labor costs go up, many restaurants will turn toward labor-cost-cutting automation or business models that don’t require many employees. That means a lot of kids won’t get that first job. After decades of baggage check-in kiosks at airports, ATMs, and self-check-out lines at the supermarket, is it really so hard to imagine automation replacing the kid behind the counter at burger joints?

To Richardson and White Castle, New York’s minimum-wage hike is a threat to a culture of opportunity in the neighborhoods that they have always called home. “Candidly, this could create a whole generation of kids who won’t get their first job,” Richardson laments. “We’re in tough neighborhoods — and White Castle hasn’t abandoned those neighborhoods. On the surface, higher pay seems noble, but it’s not — because it denies the reality of the free-enterprise framework that has allowed small businesses like ours to thrive.”

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Jerry Brown when signing California’s $15 minimum wage bill said it made ‘moral’ sense but it did not make ‘economic’ sense. Apparently what Brown meant was: it’s a “moral” imperative to harm the poor, and he intends to do it via the minimum-wage.

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