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1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Tuesday, 24-Nov-2020 12:48:46 EST lnxw48a1
   McDonald's and Waffle House give up fight against $15/hr minumum wage. https://news.yahoo.com/ceos-chains-mcdonalds-waffle-house-130100581.html [news yahoo com]
   
   Given that a new McD's franchise cost 1.3 - 2.3 million dollars, this was always crocodile tears. They tend to be so profitable that people will invest and / or borrow millions of dollars in order to own one, meaning that the return is higher than whatever they were doing to reach that financial level.
   1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Tuesday, 24-Nov-2020 12:55:03 EST lnxw48a1

      in reply to
      If we inflation adjust the $2-$3 minwage in the 1970s, we get pretty close to $15 today.
      1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Tuesday, 24-Nov-2020 13:33:22 EST GeniusMusing

         in reply to
         @lnxw48a1 The problem with the inflation adjusted target is that it fails to take into account localized inflation of housing costs.
         
         From 2017
         How Many Hours You Need to Work to Pay Rent in Each State Mental Floss
         https://nu.federati.net/url/278334
         
         From 2018
         $15 an hour: A higher wage, but hardly a living CBS News
         https://www.cbsnews.com/news/15-an-hour-a-higher-wage-but-hardly-a-living/
         
         From 2020
         What the Minimum Wage Would Be If It Kept Pace With Productivity CounterPunch.org
         https://nu.federati.net/url/278335
         
         >...
         >While the national minimum wage did rise roughly in step with productivity growth from its inception in 1938 until 1968, in the more than five decades since then, it has not even kept pace with inflation. However, if the minimum wage did rise in step with productivity growth since 1968 it would be over $24 an hour today, as shown in the Figure below.
         >...
         1. lnxw48a1 (lnxw48a1@nu.federati.net)'s status on Tuesday, 24-Nov-2020 14:15:42 EST lnxw48a1

            in reply to
            @geniusmusing Indeed. I was mostly trying to show that the "$15 minimum wage will bankrupt McDonald's" people were wrong.
            1. GeniusMusing (geniusmusing@nu.federati.net)'s status on Tuesday, 24-Nov-2020 14:51:53 EST GeniusMusing

               in reply to
               @lnxw48a1
               I am going to guess the corporate fight against a $15 min wage has little to do with going bankrupt and more about shareholder dividends/profit numbers always going up along with the stock price. You can only squeeze so much out of process productivity/volume buying/etc and then you have to look elsewhere for gains in profits, usually labor.
               
               @mangeurdenuage
               >Imaging paying for food that poison you.
               
               In sufficient quantity, everything is deadly.
               
               IIRC, everything in the state of California causes health issues.
   2. mangeurdenuage (mangeurdenuage@loadaverage.org)'s status on Tuesday, 24-Nov-2020 14:31:55 EST mangeurdenuage

      in reply to
      >it could mean higher menu prices for customers
      Imaging paying for food that poison you.