McDonald's, Other CEOs Tell Investors $15 Minimum Wage Won't Hurt Business

newsweek.com

4 pointsthereare5lights3 comments

...because they will simply use more automation.

The kiosk manufacturers probably have lobbyists all over the place pushing for higher minimum wages all the time.

Because a lot of reasons.

* If everybody has to raise wages, they don't lose customers to competitors.

* A lot of them are already paying higher than minimum.

* They get a lot of customers making minimum wage, so they have more money to spend.

* People continue to tip.

* A bunch of states already have $15 minimums so they know how to make the relevant adjustments.

Automation gets a passing mention, but only to downplay its significance.

The best earnings calls are the ones that reveal truths that clearly contradict corporate press releases.

Same goes for SEC filings.