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Remember the Guy Who Gave His Employees a $70,000 Minimum Wage?
- tajen 11y agoI stopped reading at half the story, becuase the writer obviously wants to write about all the things except whether the firm survived. So, did the firm succeed?
- danielvf 11y agoThe article notes that the two owners were notationaly making a 40% profit before the wage change. (This money was being reinvested into the businesses to pay for expansion.) The plan with the raise is that the increased cost makes the owner's profits zero, but the busines lives on. Everything would be fine, if not for that one of the two owners was not consulted beforehand, and objects to having a planned zero income in the future. Thus, lawsuit.