One can’t blame Wendy’s. Labor will be too expensive to make money on hamburgers and frostys soon. So they must automate. They have no other choice. By automating they will eliminate thousands of jobs which didn’t pay $15/hour, but they did pay something.
The French Revolution (and others) was tied to hyperinflation and a shortage of wheat. When people are hungry they get desperate. There is no reason why anyone should be hungry in Venezuela. It’s a verdant country. Yet the socialists have so mismanaged the economy that even here, in a veritable Garden of Eden, people are hungry. Even here, a country which sits on massive oil reserves nearly unrivaled in the world there is not enough energy to keep the lights on.
I like David Chang. He’s a Virginian and even had a restaurant in my home town of Charlottesville Virginia.
The restaurant business is brutal. And plain old business is brutal enough. But food, a restaurant? Long hours. Staff drama. Regulatory drama. Meeting payroll. Hungover cooks. Not an easy way to make a buck.
Though Chang never mentions an increasing minimum wage in the attached piece he does give non-restaurant folks a little insight into the economics of restaurants.
We’ve been covering the minimum wage debate since its most recent flare up a few years ago and our assessment is the same. If the government decrees that a job be paid $15/hour that does not mean that a job which pays less than $15/hour previously will suddenly be WORTH $15/hour. The government can not just upend supply and demand. The market will just adjust to the new reg. For businesses which operate on thin margins,
It’s the highest quality fast food one can get. By a lot. Plus it’s closed on Sundays.
This is the market at work.
I do love Chick-fil-a. By the way the best value going in fast food is their 3 chicken tenders order. Plus they always say “my pleasure” when I ask for extra ketchup.
(We have no affiliation with Chick-fil-a.)
There are likely more Monsanto folks in government now as this graphic is a bit dated, but it makes an important point. Some believe Monsanto is the most crony company in the world.
Mmmm. Food truck pork.
Foodies in the Lone Star State rejoice.
Food trucks are a gift to humanity. Some of the best food one will ever get, and some of the most interesting, is cooked in trucks. In DC for instance one can get very good Thai, Ethiopian, Mexican, burgers, kebab, and a million other types of food all within walking distance of each other and at very reasonable prices.
I despise parking tickets primarily because they are such a racket. Washington DC, the major city in which I drive regularly collects tens of millions of dollars in parking ticket fines each year. If one visits DC keep an eye out for the folks in the red jackets. They’ll answer your questions and give you directions but they are also patrolling the streets looking to fine drivers.
I’ll grant you that there are legitimate reasons for parking tickets.
This is just an obvious example of established interests using city hall to take out the competition.
Food trucks are great. They can provide good and often interesting food quickly and with little fuss. One can get a high quality meal more quickly and at even a lower price than one could get at Wendy’s or Burger King in many places. Believe it or not DC is actually one of those places and I stop by the gathering of trucks outside of Metrocenter now and then.
In other news Phillip Morris is sponsoring the Olympic marathon team. (Not really.)
I like a good cold Coke on a hot summer day as much as the next person, but the stuff isn’t healthy. Not that it need be for Coke to sponsor the Academy of Nutrition and Dietetics, but there is some dissonance there.
Sugar is not unlike a drug in many respects. Some people think it is a drug. For some people it can be addictive like a drug that’s for sure.
Now way! The government planners/gurus were wrong? They’re never wrong.
This reminds me of another article which we ran years ago about Apple. The article was also from Politico and basically amounted to a warning to the profitable company – “Throw some money to the lobbyists, or else.”
This article isn’t as heavy handed, indeed it may be a straight report, not a threat.
But that some of these newer, more innovative food companies are not “paying to play” clearly irks some within the Washington political class.
I personally am a big fan of Chipotle. And there ain’t no such thing as a free burrito bowl.
This is how it works folks. Nothing is free. Everything has a cost. Just because the government says that a price (in this case wages) will be be X doesn’t mean that the real price of a good or service is actually X. The REAL price is X minus the government mandated price increase.