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Non-Tech : Kirk's Market Thoughts
COHR 185.83+5.8%Dec 19 9:30 AM EST

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To: Sun Tzu who wrote (10864)2/2/2021 11:24:41 AM
From: Kirk ©  Read Replies (1) of 26800
 
Is the government correct in telling companies they allowed to stay open that profit from closing competitors, specifically restaurants, how to pay their workers? When the government can select winners and losers, my brain from under a Socialist Cap says it might be better to tax some of those gains and use the money to support the businesses they shut down like the restaurants. My capitalist brain, that profited from owning more companies that benefited from the shutdowns than were hurt, would like to keep my gains, after paying taxes when I sell the shares of course.

Hero Pay -

To support the Long Beach Post... I clicked an ad on their site to "pay" for this free to read article.

Kroger to close a Ralphs and Food 4 Less in Long Beach after city’s ‘hero pay’ mandate

The Kroger Co. announced Monday it is closing two of its Long Beach grocery stores in response to the city’s recently adopted mandate requiring local grocers to pay employees an extra $4 per hour in “hero pay.”

The national grocery giant is closing one of its Ralphs stores, located at 3380 N. Los Coyotes Diagonal, and one Food 4 Less store, located at 2185 E. South St. The permanent closures will happen April 17, the company said, adding that the stores were “long struggling” locations.

“This misguided action by the Long Beach City Council oversteps the traditional bargaining process and applies to some, but not all, grocery workers in the city,” the company stated in its announcement.

The city’s law affects companies with 300 or more workers nationally and more than 15 employees per store in Long Beach. It will remain in effect for at least 120 days.

Kroger Ralphs Division spokesman John Votava said the closures will impact nearly 200 employees between both locations and may involve layoffs.

“As always, we will do everything we can to take care of our associates,” Votava said in a text to the Post. “We may not be able to take care of every individual and it may result in layoffs.”

The company has four other Ralphs stores and two Food 4 Less stores that will....

lbpost.com
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