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$15 minimum wage means layoffs: White Castle exec
CNBC ^ | December 4, 2013 | Drew Sandholm

Posted on 12/04/2013 6:21:51 PM PST by grundle

A top executive at White Castle cooked up a spicy retort on Wednesday to calls by some fast-food workers to raise the minimum wage to $15 a hour from $7.25, arguing such an increase would force the hamburger chain to close nearly half of its locations and lay off thousands of workers.

"To more than double the federally mandated starting wage wouldn't be bad for White Castle, it would be absolutely catastrophic," Jamie Richardson, vice president of White Castle, told CNBC's "Closing Bell" on Wednesday.

Such an increase would force the closure of more than 200 of its 406 locations across the United States, Richardson said, with any remaining locations "glowing embers. They would be dying stars."

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: economics; fastfoodstrike; minimumwage
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From a related article:

http://www.cnbc.com/id/101242227

Fast-food strikes planned for 100 cities

Fast-food workers in about 100 cities will walk off the job this Thursday, organizers say, which would mark the largest effort yet in their push for higher pay.

Protesters are calling for $15 an hour

1 posted on 12/04/2013 6:21:51 PM PST by grundle
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To: grundle

...and minimum wage for NPR, NEA, NEH, etc. interns.


2 posted on 12/04/2013 6:24:40 PM PST by who_would_fardels_bear
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To: grundle

The “I-hate-capitalism” president is absolutely determined to destroy America.

And, to give him credit, he’s doing a d*mned good job of it, too.


3 posted on 12/04/2013 6:24:58 PM PST by Jack Hammer
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To: grundle

Like what does an employer say to four of his staff when the fifteen dollars state he has to pay that? Tells two of his staff they have to go to be able to pay for the two remaining?


4 posted on 12/04/2013 6:24:59 PM PST by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral.)
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To: grundle

Automation
White Castle can pay $15/hour but it cannot pay the current number of employees $15/hour. (Profit per square foot)


5 posted on 12/04/2013 6:24:59 PM PST by griswold3 (Post-Christian America is living on borrowed moral heritage)
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To: grundle

It would probably double the cost of sliders.


6 posted on 12/04/2013 6:27:34 PM PST by Venturer (Keep Obama and you aint seen nothing yet.)
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To: grundle

Thats $31,200. I have a couple people I’d have to fire too.


7 posted on 12/04/2013 6:28:34 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: grundle

Time for King Barry to decree that companies may not lay off anyone.


8 posted on 12/04/2013 6:29:46 PM PST by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: grundle

Republicans continue to remain silent on all of this.


9 posted on 12/04/2013 6:29:52 PM PST by Extremely Extreme Extremist (Governor Sarah Heath Palin for President of the United States in 2016)
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To: grundle

Obama would rather have more and more and more people on the dole.
That makes then dependent on the govt (read that: administration).

just what he wants (and all his economic policies work to that end)

control. power. dictatorship. ultimate power. for then that program that damned teleprompter. exactly what they want for us.


10 posted on 12/04/2013 6:30:32 PM PST by faithhopecharity
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To: grundle

“Fast-food workers in about 100 cities will walk off the job this Thursday

Walk off the job and don’t bother showing up the next day.


11 posted on 12/04/2013 6:30:39 PM PST by Blood of Tyrants (From time to time the.tree of liberty must be watered with the blood of tyrants and patriots.)
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To: who_would_fardels_bear

Whn are these morons going to get the obvious truth that ALL costs are ultimately paid by consumers. Socking it to the oil companies to “pay their fair share” just makes it harder for a single mom to drive to work. Double minimum wage just means poor people pay more for their food, and everything else.

Meanwhile, the so-called elites who buy the vote of the mob with the mobs own money are living well apart from those they claim to be “helping”.

Buy lead futures turned out to have been very solid financial planning.


12 posted on 12/04/2013 6:30:58 PM PST by prov1813man (While the one you despise and ridicule works to protect you, those you embrace work to destroy you)
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To: grundle

If $15 is good... Wouldn’t $50 be better?


13 posted on 12/04/2013 6:34:44 PM PST by Ramius (Personally, I give us one chance in three. More tea anyone?)
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To: grundle

White castle burgers are perfect candidates for robo burger preparation, the mechanism for mass production has already been worked out for their grocery store line, all they need is some miniturization and a restaurant of 30 employees can easily be replaced with four guys operating machines with no noticable dropoff in quality. Protest at your own peril burger flippers.


14 posted on 12/04/2013 6:34:52 PM PST by jz638
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To: griswold3
Automation

Maybe they could adapt the Taco Bot 3000

15 posted on 12/04/2013 6:35:05 PM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: Blood of Tyrants
Walk off the job and don’t bother showing up the next day.

I don't know. It's not like there's a shortage of jobs or anything.

16 posted on 12/04/2013 6:36:18 PM PST by Jeff Chandler (Obamacare: You can't make an omelette without breaking a few eggs.)
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To: grundle

So, how would a $50/hr min. wage work out?


17 posted on 12/04/2013 6:37:18 PM PST by Paladin2
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To: grundle
"$15 minimum wage means layoffs: White Castle exec..."

.... Not to mention causing instant inflation as the wages of all of the Union workers receive their corresponding increase in wages that are tied to the so called Minimum Wage.

18 posted on 12/04/2013 6:37:49 PM PST by R_Kangel ( "A Nation of Sheep ..... Will Beget ..... a Nation Ruled by Wolves.")
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To: grundle

Do it. Pile drive the young into poverty so they eat out of trash dumpsters, and until they never, ever vote for a democrat again.


19 posted on 12/04/2013 6:40:44 PM PST by Vince Ferrer
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To: grundle

...but Bob Beckel on the Five was saying that some study by economists proved that there is no correlation between the an increase in the minimum wage and unemployment.


20 posted on 12/04/2013 6:40:51 PM PST by ConservativeTeen (Proud Right Wing Extremist)
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