Quantcast
Connect with us

‘I was stunned by the business’: Fast food CEO says profits soared after minimum wage hike

Published

on

The CEO of a popular fast food chain said this week that he was “stunned” to see profits soar each time California passed minimum wage increases.

In an interview with KQED on Tuesday, Wetzel’s Pretzels CEO Bill Phelps admitted that his investors were worried about how a 2014 wage hike would impact the business.

“Like most business people I was concerned about it,” Phelps said.

For years, opponents of minimum wage increases have argued that wage hikes mean fewer jobs because businesses have to raise prices and cut hours to cover the additional expenses. But Phelps said that his sales skyrocketed after a California law forced businesses to raise wages in 2014.

“I was shocked,” Phelps recalled. “I was stunned by the business.”

The same thing happened earlier this year when California raised the minimum wage to $10.50 per hour, Phelps said.

ADVERTISEMENT

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.

“My overall sales were something like 15 percent ahead after the first minimum wage bump, and now they’re about 12 percent ahead this year,” Jacobs explained. “It isn’t because I’m such a great manager or smart guy, but the buying public has more money in their pocket.”

President-elect Donald Trump’s pick for secretary of labor, Andrew F. Puzder, has opposed President Barack Obama’s efforts to raise the federal minimum wage from $7.25 to $10.10.

Listen to the interview below from KQED.

Report typos and corrections to [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

Trump’s 2020 campaign strategy is familiar: Troll the libs!

Published

on

Late on Tuesday, I got an email from an unusual source. A reporter for the conservative publication the Washington Examiner asked if I'd be interested in sharing thoughts on Joe Biden's history of joking "about 'locking up your daughters'" and on "Biden's view of women and gender relations." This was in light of my previous criticisms of Biden's apparent condescension towards girls and women, and his pockmarked history on gender relations in general.

Continue Reading

Breaking Banner

Cory Booker rips Biden for praising racist senators: ‘You don’t joke about calling black men boys’

Published

on

Sen. Cory Booker (D-NJ) blasted Joe Biden for praising two segregationist senators he'd served with as a lawmaker.

The former vice president and current Democratic presidential frontrunner reminisced about his relationship with Mississippi Democrat James Eastland and Georgia Democrat Herman Talmadge, two notoriously racist senators during the Civil Rights era, reported The Hill.

“At least there was some civility, we got things done," Biden said, recalling that Eastland had never called him "boy." "We didn't agree on much of anything. We got things done, we got it finished."

Continue Reading
 

Breaking Banner

Most Republican voters admit to feeling ‘embarrassed’ and ‘exhausted’ by Trump’s comments

Published

on

Some diehard supporters of President Donald Trump have asserted that they admire the fact that he is so unapologetic about his rhetoric and his actions. But according to a new Pew Research survey, most Republican or Republican-leaning voters admit that they sometimes feel “embarrassed” or “concerned” about things that Trump says.

According to Pew, 53% of Republican or Republican-leaning voters say they sometimes feel “embarrassed” by Trump’s comments — while 59% are sometimes “concerned” by them. Some of the adjectives Pew ran by GOP or GOP-leaning voters were even stronger, including “angry,” “exhausted” and “frightened.”

Continue Reading
 
 

Copyright © 2019 Raw Story Media, Inc. PO Box 21050, Washington, D.C. 20009 | Masthead | Privacy Policy | For corrections or concerns, please email [email protected]

I need your help.

Investigating Trump's henchmen is a full time job, and I'm trying to bring in new team members to do more exclusive reports. We have more stories coming you'll love. Join me and help restore the power of hard-hitting progressive journalism.

TAKE A LOOK
close-link

Investigating Trump is a full-time job, and I want to add new team members to do more exclusive reports. We have stories coming you'll love. Join me and go ad-free, while restoring the power of hard-hitting progressive journalism.

TAKE A LOOK
close-link