Quote:
Originally Posted by MrPrena
You and I are about in the similar page. I am about 21 course credit shy of receiving my PhD in Economics. I am not planning to spend a single credit on Labor Economics, nor Economics with Discrimination.
I disagree with DOL's view. I've seen it with my own eyes. Retailers and fast food restaurants are dying to reduce staff per revenue to boost their bottom line eps.
My wife and 1/4 got laid off at one department stores on cost reduction plan around 2009. However, she made tons of money on ESOP/PP and 401(k) that it actually turned out better w/ 99wk unemployment benefit.
Most of companies besides wmt, mcd, cab, and others do not own real estate or reit. They will just simply move out of the city ord. I've seen Dress barn does that. I've seen dollar tree do that for some different reasons. Near double the labor cost sure WILL get them out of the city which impose the 15/hr crap.
Although this sounds like labor econ heavy topic, but this is more of a microecon issue, and it will be soon.
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All needs to be said in my opinion. If minimum wage is at $15 an hour, most businesses will move out to find cheaper sources of labor and produce at a lower level of input costs. (Hence why a lot of businesses have already packed and moved to other states with lower operating costs than california).
Company like Mcdonalds charges 8% on top of the annual operating costs to its franchisee's for solely using the
corporately owned real estate and make a lot more than one might expect from the actual ownership of real rather than the burger flipping.