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Fast food CEO: Minimum wage hikes closing locations
Yahoo Finance ^ | 5/30/14 | cnbc

Posted on 05/30/2014 11:53:50 AM PDT by NormsRevenge

CKE Restaurants' roots began in California roughly seven decades ago, but you won't see the parent company of Carl's Jr. and Hardee's expanding there much anymore. Related Stories

What's causing what company CEO Andy Puzder describes as "very little growth" in the state?

In part it's because "the minimum wage is so high so it's harder to come up with profitable business models," Puzder said in an interview. The state's minimum wage is set to rise to $9 in July, making it among the nation's highest, and $10 by January 2016.

In cities in other states where the minimum wage has gone up considerably, Puzder said "franchisees are closing locations" after riding out lease expirations.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events; US: California; US: Tennessee
KEYWORDS: 30employees; california; carljr; carlsjr; ceo; cke; ckerestaurants; closing; cyberburger; economy; fastfood; hardees; hikes; jobs; layoffs; locations; lofan; minimumwage; nojobs; obamacare; tennessee; zerocare
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To: NormsRevenge

More”Proof”that Obongo and his DemonRats LOVE YOU!!!


21 posted on 05/30/2014 12:28:19 PM PDT by bandleader
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To: GeronL

People will learn how to cook at home again and find out how much better it tastes than fast food if a Big Mac with fries is $13

**************************************

Personally, I think we should return to Victory Gardens again. At the time (WWI, WWII) “around one-third of the vegetables produced by the United States were from victory gardens.” Evidently, The Mooch’s kitchen garden is modeled after this, but I think a good old fashioned garden, getting out in the sunshine and digging in the dirt, plus growing/knowing what you eat is a good thing. If you want to fry any of it or jazz it up (eggplant, fried green tomatoes, stir fried veggies, banana peppers stuffed with cheese, wrapped in bacon & broiled), then that’s just fine with me as well (Mooch would definitely disapprove, which makes it all the more fun).


22 posted on 05/30/2014 12:28:34 PM PDT by Qiviut (Obama: A Caesar at home & a Chamberlain abroad, dividing the country & uniting the world against us.)
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To: NormsRevenge

On the other hand, In-n-Out starts employees at $11/hr., retains employees better and are routinely very busy. Maybe it says something about their respective business models.


23 posted on 05/30/2014 12:32:09 PM PDT by Bubba Ho-Tep ("The rat always knows when he's in with weasels"-- Tom Waits)
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To: GeronL
... how much better it tastes than fast food if a Big Mac with fries is $13
I think the going rate is about $7.
I eat a double quarter-pounder w/ cheese at least 2-3 times a month. Ummmm, good.
24 posted on 05/30/2014 12:34:57 PM PDT by oh8eleven (RVN '67-'68)
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To: Arm_Bears

These are the type of people that get on city councils and ban lemonade stands.


25 posted on 05/30/2014 12:36:46 PM PDT by Fledermaus (Conservatives are all that's left to defend the Constitution. Dems hate it, and Repubs don't care.)
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To: Bubba Ho-Tep

They also have very few outlets.


26 posted on 05/30/2014 12:38:47 PM PDT by Harmless Teddy Bear (Proud Infidel, Gun Nut, Religious Fanatic and Freedom Fiend)
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To: Bubba Ho-Tep
In-n-Out starts employees at $11/hr

Close, it is actually $10.50 but I believe you are right about their business model. They do not have refridgerators, nor do they have microwaves. Thier menu is far more Spartan than anyone else and they do not offer Wi-Fi.

27 posted on 05/30/2014 12:39:18 PM PDT by rjsimmon (The Tree of Liberty Thirsts)
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To: Bubba Ho-Tep

On the other hand, In-n-Out starts employees at $11/hr., retains employees better and are routinely very busy. Maybe it says something about their respective business models.


Not to mention, employees are very friendly, they triple check your order, and the food is as fresh, as can be. Your hamburger was “mooing” earlier in the week, and if the line is long enough, the potato you see being chopped up, will be your french fries. I can’t say enough good things about these guys ! Thanks ! :)


28 posted on 05/30/2014 12:41:07 PM PDT by jttpwalsh
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To: NormsRevenge

I completely support a $15 minimum wage, which is what Seattle is trying to mandate.

America has deliberately imported 20 million low skill LEGAL immigrants since 1986.

Also, American government has deliberately refused to enforce the laws against the 12 million ILLEGAL immigrants who already reside in our country.

The Republican Party and Democrat Party have deliberately created a MASSIVE oversupply of low skill labor.

That fact alone has crushed “normal” wages for low skill native born Americans.

A $15 minimum wage will bring millions of native born Americans back into the workforce.

And it will completely destroy the political and economic rationale for massive LEGAL immigration.


29 posted on 05/30/2014 12:42:45 PM PDT by zeestephen
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To: rjsimmon

Go ask one of those illegal migrant agri workers what they are being paid, talk about a double standard!


30 posted on 05/30/2014 12:43:06 PM PDT by DocJhn
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To: rjsimmon
"Close, it is actually $10.50 but I believe you are right about their business model. They do not have refridgerators, nor do they have microwaves. Thier menu is far more Spartan than anyone else and they do not offer Wi-Fi."

There's a place like that in the Seattle area - Dick's Drive In - that pays a couple of bucks an hour more than other fast-food chains. There are about six-seven locations, and only one is a sit-down restaurant, the others are exclusively takeout or eat-in-car. The menu basically hasn't changed in 50 years - 4 burger variants, fries, shakes, and cones (maybe sundaes, too). They always seem to be busy.
31 posted on 05/30/2014 12:50:54 PM PDT by Steve_Seattle
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To: Harmless Teddy Bear

290 outlets in five states.


32 posted on 05/30/2014 12:51:43 PM PDT by Bubba Ho-Tep ("The rat always knows when he's in with weasels"-- Tom Waits)
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To: rjsimmon

I read somewhere that none of the other burger chains can figure out how they do it. The fact that their menu has basically five items just baffles their competitors.


33 posted on 05/30/2014 12:55:43 PM PDT by Bubba Ho-Tep ("The rat always knows when he's in with weasels"-- Tom Waits)
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5% Of Free Republics Community Donates.
What Is There To Say To Those Who CAN Donate But Won't?
Nothing.
There Is No Graphic Or Plea That Will Make Those Posters Take Up The Slack.
So 5% Supports The Rest.
How Conservative Is A Free Ride?



34 posted on 05/30/2014 12:56:17 PM PDT by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: zeestephen

I completely support a $15 minimum wage, which is what Seattle is trying to mandate.


Respectfully, it took me over 30 job applications in ‘74 to land a minimum wage job, at $2.01/hour, even though I had a proven track record of delivering newspapers, for six years. My teenage nephews live in Seattle, the older one (17) has been told that he will lose his job, when the wage goes up, and the younger one (15) has small hope of catching the “bottom rung on the employment ladder”.

I totally understand your point about the illegal angle, but the other side of the same coin, is, our own unskilled youngsters, who, frankly, aren’t worth that money, to an employer.

Thanks.


35 posted on 05/30/2014 1:08:06 PM PDT by jttpwalsh
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To: Bubba Ho-Tep
Very few.

McDonalds 33,000 outlets and 121 countries.

Burger King 13,000 outlets and in 79 countries

Wendy's 6,650 outlets and in 10 countries

Hardee's 3,141 outlets in 42 states and in 14 countries

Chick-fil-A 1,700 outlets in 38 states

36 posted on 05/30/2014 1:12:50 PM PDT by Harmless Teddy Bear (Proud Infidel, Gun Nut, Religious Fanatic and Freedom Fiend)
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To: Qiviut

Personally, I think we should return to Victory Gardens again. At the time (WWI, WWII) “around one-third of the vegetables produced by the United States were from victory gardens.”


I agree with you, many cities and towns have regulations against large gardens however. It’s so sad that we now live it such a heavily-regulated country. And now the Feds are working on taking over all of the local water sources they can.


37 posted on 05/30/2014 1:14:51 PM PDT by The Working Man
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To: zeestephen

What do you think will happen to those franchises that overpay for their labor?

You may be a conservative, but you do not reason like a capitalist. Frankly, there is not much difference when it comes to the economic philosophies of socialists and big government conservatives.


38 posted on 05/30/2014 1:15:20 PM PDT by neocon1984
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To: NormsRevenge

Lots of room in Texas. Bring your corporate office here while your at it, we’re open for business.


39 posted on 05/30/2014 1:27:00 PM PDT by 12th_Monkey (One man one vote is a big fail, when the "one" man is an idiot.)
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To: NormsRevenge

I see a booming business in self order kiosks.


40 posted on 05/30/2014 1:29:01 PM PDT by Sequoyah101
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