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“I was shocked, I was stunned by the business.”CEO says profits soared after minimum wage hike

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posted on Jan, 5 2017 @ 12:41 PM
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I think it is common sense that if the middle/lower class has money to spend the results will be a more solid Economy. CEO of Wetzel’s Pretzels said that after the increase in the Minimum wage in California Business soared. At first he and his "Investors" were worried the increase would be devastating but the results were the opposite. (The Investor class has one skill, putting money in their pockets)


Mike Jacobs, owner of a Wetzel’s Pretzels franchise in Concord’s Sunvalley Shopping Center, told KQED that the increased business can be attributed to the fact that his customers are making more money.


For more and the interview on KQED



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posted on Jan, 5 2017 @ 12:43 PM
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a reply to: ugmold

Wealthy people think that the middle class will hoard their money as much as they do.

They don't realise the middle class actually has to spend money to get ahead.

It's another example of the disconnect between main st and wall street.

~Tenth



posted on Jan, 5 2017 @ 12:45 PM
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a reply to: ugmold
As long as he does not get greedy and raise prices the prosperity should continue.



posted on Jan, 5 2017 @ 12:47 PM
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Well there is deception right off the bat. They give you the idea that this is a $15 an hour minimum wage hike when in fact it's only $10.

What most people took issue with is the idea of arbitrarily raising entry level jobs to a $15 or more an hour. Many people invest a lot of money to go to school and get an education so they can make that much.
edit on 5-1-2017 by TheBulk because: (no reason given)



posted on Jan, 5 2017 @ 12:56 PM
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I think it's funny how many of the jobs we need to have, I mean NEED to have, because if we didn't our cities wouldn't function, don't pay enough to raise a family on.

Pretty sure you need these positions, so if you can't raise a family on them, are you supposed to help the city raise their families but you don't get to have one because you can't be paid a wage that supports a family?

I understand business needs to be profitable, that's easy to get, but what isn't is that fact that many of these jobs simply aren't valued as much as they should be, I'd love to see some cities who short changes their services via income shortages survive without those services operating.

------

The real isn't the RACIAL issue, it's an EQUALITY issue.

Somehow, there are people on this planet who perceive themselves as " better " than others and more " deserving " than anyone else, despite their luxury mindsets. Before there can be change, these people cannot keep thinking the way they do or cannot keep having the business they get. Shun them like the social lepers they are, and watch them crumble and our nation heal and rebuild from this lack of humane and equal way of acting.



posted on Jan, 5 2017 @ 01:04 PM
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originally posted by: TheBulk
Well there is deception right off the bat. They give you the idea that this is a $15 an hour minimum wage hike when in fact it's only $10.

What most people took issue with is the idea of arbitrarily raising entry level jobs to a $15 or more an hour. Many people invest a lot of money to go to school and get an education so they can make that much.


That's the bulk issue though, if you spend let's say 5 years in college, you end up with 100k or more of student debt.

Even your entry level positions now have crap salaries. Raising the minimum wage, in turn then raises the wage of other positions as well. If you track the value of your money, with inflation over the years etc, the actual minimum wage should be somewhere around 15 to 18 dollars an hour.

30K is like the minimum you need now to live in most 1st world countries. We here in Canada are raising it I believe to 11 an hour in our province starting in April. They've raised it 25 or 50 cents every year or two for about a decade now I would imagine.

The effects have been nothing but positive, but I attribute some of that to the slow roll out of raising the wage, not a huge hike, as I agree with you, there would be some negative repercussion to doing that.

~Tenth



posted on Jan, 5 2017 @ 01:05 PM
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originally posted by: TheBulk
Well there is deception right off the bat. They give you the idea that this is a $15 an hour minimum wage hike when in fact it's only $10.

What most people took issue with is the idea of arbitrarily raising entry level jobs to a $15 or more an hour. Many people invest a lot of money to go to school and get an education so they can make that much.


back in the mid 80's...

lets see... decent living for those who dont have the luxury or the money in the first place to afford that 'decent school to earn that whooping $15/hr
- people will be able to afford better health care for their children
-lower income areas see less petty crimes, thus less for-profit-arrests to ruin their life for minor infractions
-major companies no longer have the green light to price gouge against certain groups
-families able to afford or invest in educations for their children so they can go out and earn that whooping $15
- people with disabilities, learning or physical can earn a decent living and leviate some of the weight from government funding...
-cheaper health care

.... oh list of the madness of increasing the minimum amount of money a person can earn whilst performing a humane job as dictated by people who have more money than they will ever be able to spend... oh the list of the madness goes on...

and we all know the cost of living is getting cheaper by the day too huh.... a gallon of milk costs more than a gallon of gas.... if you cant afford milk i guess you know what the alternative is to mix with that cereal bowl.
edit on 5-1-2017 by odzeandennz because: (no reason given)



posted on Jan, 5 2017 @ 01:08 PM
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Right people EVERYONE 'deserves' $15 an hour for selling pretzels!

Paying half your social security ? No Problem!

Paying half your medicare ? No Problem!

Paying your workmans comp ? No Problem!

Paying your unemployment insurance? No Problem!

Paying your for your vacation time ? No Problem!

Paying the costs it keeps the lights turned on ? No Problem!

Paying the bank loans for the business? No Problem!

MONEY GROWS ON TREES!



posted on Jan, 5 2017 @ 01:09 PM
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So let's just bump it to $50/hr immediately and end poverty forever...



posted on Jan, 5 2017 @ 01:13 PM
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a reply to: neo96

Actually money grows from the ground.



Currency paper is composed of 25 percent linen and 75 percent cotton.


And it's even printed by people and machines! That's even better than growing on trees, I mean, look at the breadbasket of the country!

Surely we can grow enough money to give everyone a decent wage?
edit on 5-1-2017 by Tranceopticalinclined because: To highlight the sarcasm



posted on Jan, 5 2017 @ 01:19 PM
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a reply to: Tranceopticalinclined




Surely we can grow enough money to give everyone a decent wage?


Minimum wage was $3.25 when I first started out.

Never planned to make fast food a career choice.

Also don't believe them 'evil' corporations should be guarnateeed money such as the 'living wage' crap.

'People need more money. So they can go out and buy more stuff'.

What doesn't end up in them evil corps bank accounts ends up in the STATE treasury.

Because the income tax is PROGRESSIVE.

The more people make the more people pay in TAXES.

And that doesn't take in to consideration of inflation.

Where it takes more cash to keep doing business.

More regulation increases that cost.

It's not as simple as people want to believe.

The solution isn't 'giving' more money for doing the SAME work.

Its fixing the money. As in the dollar value.



posted on Jan, 5 2017 @ 01:22 PM
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originally posted by: Tranceopticalinclined

And it's even printed by people and machines! That's even better than growing on trees, I mean, look at the breadbasket of the country!

Surely we can grow enough money to give everyone a decent wage?


Unfortunately, the currency and printing has a charge on every dollar. God forbid The Federal Bank would do that bit for free, they charge for everything.



posted on Jan, 5 2017 @ 01:24 PM
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a reply to: Tranceopticalinclined

That money ended back in the CEO's account. He said with each minimum wage increase since 2014 his profits went up. It happened earlier when the 10.50/per hr went into effect. His investors are very happy with the increase in profits.



posted on Jan, 5 2017 @ 01:30 PM
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This story sounds suspiciously fabricated.

Most "Living Testimonials" are.



Let's see the books !!!!



posted on Jan, 5 2017 @ 01:36 PM
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originally posted by: TheBulk
Well there is deception right off the bat. They give you the idea that this is a $15 an hour minimum wage hike when in fact it's only $10.

What most people took issue with is the idea of arbitrarily raising entry level jobs to a $15 or more an hour. Many people invest a lot of money to go to school and get an education so they can make that much.

"Let's not make these service sector jobs worth having by paying a decent wage guys! Let's instead reclaim lost jobs that can't come back for an industry that is just as #ty to work in but has a history of good pay and benefits because workers and unions demanded those benefits until they got them!"



posted on Jan, 5 2017 @ 01:37 PM
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I listened to the interview. It stated there was no hard and empirical data to show any correlation to the increase in sales. Just that it happened around the same time. Correlation does not equal causation. I suspect the broader economy is just doing better in the areas where Wetzels is located and they are benefiting from it and the minimum wage increase had little do with it the increase in sales.



posted on Jan, 5 2017 @ 01:38 PM
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a reply to: ugmold

It won't last very long. Sooner or later, they will have to raise prices to cover production costs, or they will simply replace people with machines. Inflation is not profit.



posted on Jan, 5 2017 @ 01:41 PM
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originally posted by: neo96
Right people EVERYONE 'deserves' $15 an hour for selling pretzels!


Yet apparently they deserve manufacturing jobs where they stand on an assembly line and earn full benefits and a livable wage.



posted on Jan, 5 2017 @ 01:42 PM
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a reply to: ugmold

Not discounting his reasoning outright (but I would argue that it usually takes longer for those making more money to just frivolously spend it on pretzels in the mall), but it seems pretty apparent that he's using deductive reasoning to make a guess as to the correlation between the two.

And what isn't addressed is whether or not this is a sustained increase in sales, or just a knee-jerk reaction to a few more dollars in someone's pocket. And is this across the board for most restaurants, or just his? Has he specifically asked people why they're buying more of his product, or is he just, again, making that correlation without proving causation?

These are questions that need answering before one can just jump on the bandwagon that increased minimum wage is better for the majority of businesses and employees alike.

ETA: Also, if people are making just a little bit more and running out to buy things like pretzel snacks, it doesn't seem like these people making minimum wage are really on the cusp of poverty. I bet they all stood in line messing on their smart phones while waiting to order, too.
edit on 5-1-2017 by SlapMonkey because: (no reason given)



posted on Jan, 5 2017 @ 01:45 PM
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originally posted by: xuenchen
This story sounds suspiciously fabricated.

Most "Living Testimonials" are.



Let's see the books !!!!



Well, you should know, you're the propaganda expert...well other people's propaganda that is. That doesn't require much checking really.
But it is good to get out there and look...off you go!



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