Comments on: Minimum wage kills minimum-wage jobs

By: Queeg

Queeg — Mon, 22 Sep 2014 05:26:55 +0000

If a restaurant makes 15% net that is fantastic. Read up on the numbers in restaurant management texts.

A typical food joint may make 5-10%.

The 3% number reported isn’t surprising……

“What difference does it make”. 3- 10% on a million in sales on a 1.5 million dollar investment affords one tops a ROI of around 7 percent. Frankly, buying a high yield utility stock is less balderdash!

By: LetitCollapse

LetitCollapse — Mon, 22 Sep 2014 04:54:12 +0000

“Fast-food restaurants could not pay this additional amount out of their profits. The typical restaurant has a profit margin of just 3 percent before taxes. That works out to approximately $27,000 a year—less than the annual cost of hiring one full-time employee at $15 an hour.”

Sorry. I don’t buy it.

I have been to Asian buffets that only charge $10 for lunch and about $13 for dinner. And they offer a HUGE smorgasbord of food – ALL YOU CAN EAT. Salmon, beef brocolli, beef ribs, pork dishes, soups, sushi, an entire salad bar with all the additions, etc…. and they manage to stay in business. How could you not make a load of money off a $5 hamburger that only costs $1.75 to make? Oh, and there are huge mark-ups on all the drinks. Remember, the chains buy in mass bulk quantities. I think the fast food places can afford to pay $15/hr and still do quite well. I think some of these small independent retail knick-knack stores would have trouble paying $15/hr. That’s why I think it will cause the underground economy to explode.

By: Queeg

Queeg — Mon, 22 Sep 2014 04:14:16 +0000

Brick and mortar service businesses are under intense pressures …….. cost, consumer expectation and regulatory.

Inevitable the consumer will have less choices….price, variety, time of service, type of services.

Does it make sense two Asian or burger fast gag places are in the same cookie cutter shopping center?

Who cares it’s healthy….we tried this healthy gig in our Historic Hotel……bombed…..they demanded we bring back Captain Crunch, real sugar, glazed pastries/ donuts…they liked fake orange drink better than real orange juice too!

Today you need king beds where in the 80-90’s queens sufficed….why…..lots of guests today are enormous-

By: LetitCollapse

LetitCollapse — Mon, 22 Sep 2014 03:06:57 +0000

If fast food restaurants weren’t profitable there wouldn’t be so damn many of them. I bet there are 75 within one square mile where I live. We are a nation of fast food restaurants, banks and gas stations. Have any of you lived in Europe? Their communities aren’t designed like that. Over there they have beautiful parks with free entertainment on the weekends, roller skating or ice skating rinks, outdoor and indoor swimming pools, fantastic networked underground public transportation systems that can get you from one end of huge city to the other end in 15 minutes, speciality bars and eateries in the neighborhoods where people gather together and socialize, etc… Their communities are organized for the enjoyment of the citizens. Everything in America is designed to chase the dollar bill. I say get rid of 50% of the fast food restaurants. Raise the wages even if it causes the price of a hamburger to increase by 30%. Maybe people would eat healthier and it would save on medical costs.

By: Ronald Stein

Ronald Stein — Sun, 21 Sep 2014 20:59:17 +0000

Extra costs resulting from government actions on businesses such as over regulations, over taxation, and uncontrollable “fees” are a slight inconvenience to those making the big bucks, but the higher costs trickle down to all citizens for products and services. Those that earn the small bucks, which includes virtually all those in the food and hospitality industries, are the ones that can least afford higher costs for power, transportation fuels, and food. There is minimal impact to those that can afford the results of our relentless business unfriendly efforts, but little hope for those that barely exist at today’s cost of living.

By: LetitCollapse

LetitCollapse — Sun, 21 Sep 2014 19:28:44 +0000

“A new study by the Heritage Foundation shows how minimum-wage price increases across America increase fast-food prices and kill jobs.”

Does the Heritage Foundation show how all these workers making slave wages get food stamps, free medi-cal, WIC, Section 8, etc… to supplement their crappy wages? I couldn’t care less if a Big Mac goes to $10. I don’t eat that garbage anyway. If I want a hamburger I make my own. Instead of forcing the taxpayers to supplement the rock bottom low wages it’s time for the businesses to start supporting their own workers so that they can live an essential life in the region where they live. The taxpayers shouldn’t have to bail out the businesses. If they can’t compete paying their workers a living wage – either relocate or find another line of business. We have too many fast food restaurants as it is. It’s time to thin the herd.