Big restaurant chains are telling investors that a national minimum wage hike wouldn't be a big deal—even as their corporate lobbying groups in Washington fight plans for a $15 minimum wage.
"As they've increased their minimum wage kind of in a tempered pace over that time frame, if you look at that time frame from us, California has outperformed the system," Verostek said on an earnings call."Over that time frame, they had six consecutive years of positive guest traffic—not just positive sales, but positive guest traffic—as the minimum wage was going up."
"Our view is the minimum wage is most likely going to be increasing whether that's federally or at the state level as I referenced, and so long as it's done... in a staged way and in a way that is equitable for everybody, McDonald's will do just fine through that," Kempczinski said.
While the group does not currently disclose its members, two companies it previously listed among its national corporate members have recently disputed the idea that $15 an hour is an unaffordable labor cost.
Why would it bastards just keep raising the prices on everything anyway!
GangofH Because $15 is fucking nothing
Of course it won't. They already provide it....in Europe. They just like to abuse the American work force....because they can
Well, we all knew that! We also know that the real reason they dont want to RaiseTheWage is because the are Greedy AF Sociopaths who would rather horde every penny they can - then make sure the ppl who produce all that wealth can actually survive. EatTheRich GeneralStrike
If it won't hurt them then let them do it. No need to mess with ALL business. But let's be real, McDonald's rolled out kiosk already. They aren't paying a bunch of kids that much $$.
You know what else wouldn't hurt? Some decent nutritious alternatives.
Of course they would say that; they have deep pockets. What about the local cafés and diners? Can they take that hit?
Of course NOT! 'McDonald's and other CEOs' employ only about 20% of all the employees in the USA.With their balance sheet size they can afford to walk into a bank and ask for working capital to pay the new wage..just buy a reduced burger size😁..how many small businesses can pay?
Hahahah this is called creating barriers to entry and limiting competition so the LARGER corporations can profit more
It would more likely HELP business if everyone had more money to spend on food!!!
Raise prices 25 cents across the board. Problem solved
Our local McDonald's franchise owner (yes its only one man) said his workers dont want to work for $15! Meaning he didnt believe the skillset of working fast foods wasnt worth paying his employees $15. I have loathed that man from that point on. His managers dont even make $13.
how about earnings?
I think this is obvious....it’s the small business and mom and pop restaurants that won’t be able to sustain.
So why don’t they just raise the wages in their companies?
Big Corporations will profit from minimum wage increase while small businesses regress.
They’ll just raise the price of a happy meal to $16.00.
Go figure
We will see if their prices have to be increased.
Yes Of course major corporations can afford it. And it has the added benefit of driving all the mom and pop competition out of business. ImA big win for Corporate America.
Then those companies can raise theirs on thier own. Do not force small bussiness to put themselves out of bussines with increased cost.
If that is so, let them decide.The problem are the lowest skilled workers, starting businesses, and the working poor.They are the ones that will lose their jobs, or their businesses won’t be able to compete with mega corporations.Make a corporations likeHarming their competition.
It will destroy it.
I was entering our local Wal-Mart last week. A sign at the entrance said, 'NOW HIRING $16.50 to $17.50 to start'. That sounds really fair.
No, really? They make millions everyday.
Everything will go up in price
Nope. Won’t hurt McDonalds at all. Just...not in the way all of the current McDonalds employees think... The house always wins.
Mom and pop shops, barely getting by, will end up making less or no money, if a hire someone. It’s big business trying to kill off small business, then prices will rise, beyond people’s living standards, causing debt like our government.
Duh.
Oh McDonald represents small enterprise?
“We’re talking about $15, Chris. We’re not talking about making anybody rich. This is the difference between life and death for people.” — Cori Bush
You patty my back i will patty yours😏
Centrists2Cents The sell addictive food that eventually murders their customers. Hell of a business model.
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