"Not for me."
Posted on 01/30/2016 8:44:31 AM PST by upchuck
A minimum wage of $12.55 an hour in Oakland, Calif., may be the culprit for a Wal-Mart store's closure.
Wal-Mart announced Jan. 15 it will close 269 stores globally, including 154 locations in the United States-affecting about 10,000 associates across the nation... snip
Oakland Mayor Libby Schaaf, a Democrat, has been leading statewide efforts to raise the minimum wage to $15.
"This higher city minimum wage eliminated the jobs of the very workers advocates wanted to help," said James Sherk, a research fellow in labor economics at The Heritage Foundation... snip
The Wall Street Journal reported on Wednesday that most Wal-Mart hourly store employees in the U.S. will see a pay increase in February.
(Excerpt) Read more at dailysignal.com ...
Article from CBS News with a map and list of stores being closed is here.
Are McDonald’s and Burger King and Wendy’s and Starbucks still there?
I'm surprised these Marxist areas don't create laws making it illegal for businesses to move despite revenue losses.
I am willing to bet there was also a lot of shoplifting at that location. Shoplifting and $15 per hour is just too much to handle.
Congratulations, the minimum wage has gone up. Too bad no one will hire you at that wage. But you do qualify for food stamps and a brand new Obama phone. Don’t forget to vote early and often for democrats.
Got to love the unions..(arc)
Just saw where CWA endorsed Sanders.
I guess Obama screwing up the members health care wasn’t enough for them they want more abuse.
She comm’ies just won’t learn
Stores are in business to make money, not improve social agendas.
If a store cannot make a profit in certain locations, it is reasonable that they will close.
If a store cannot make a profit in certain locations because of high crimes, shoplifting, etc., leading to business losses, it is reasonable that they will close.
There is NOT one store that I go to in my town of 14k for a social agenda. In fact, if I did go in a store and get blasted with a social agenda, I would turn around and leave. I go into a store to buy things.
(arc) = (sarc)
Switching over to automated food service most likely.
A few years ago (at least at my location) WM re-assigned the elderly "greeters" to regular work assigments in the store.
Now I notice they are back at the doors. Even MBAs figure it out eventually.
A minimum wage of $12.55 an hour in Oakland, Calif. made Wal-Mart close 269 stores globally
Great! Giant meth house soon available.
Surprise, surprise, surprise. - Gomer Pyle
Its harder to shoplift a Big Mac. They will be around Oakland for a while longer.
"Not for me."
No, but it is why “two Wal-Mart locations in Oakland’s neighboring city of San Leandro, where minimum wage is $10, will remain open.”
Wal-Mart closed stores nationwide that were losing money. Oakland jacking up their minimum wage is why that particular store was losing money.
Maybe Wal-Mart is losing profits in stores located in poor neighborhoods isn’t because of an increase in the minimum wage, but because those making the current minimum wage can’t afford to shop at Wal-Mart any longer. Therefore, Wal-Mart’s current business model is failing.
How strange then that Wal-Mart’s business model is working just fine in the neighboring city of San Leandro where the minimum wage is lower.
Good, now the Mom-and-Pop stores can stay open.
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