PoliticalChic
Diamond Member
Liberal big government operates under the motto "We Know Best What's Good For You!"
What is amazing is how many drones bow to this.
Equally amazing that the flashing light "IDIOT" over their heads doesn't keep them awake at night.
Rather than rehash the damage that Franklin Roosevelt did to the economy by instigating the mortgage meltdown by occupying the private home mortgage industry with his shock troops....'Fannie Mae,'....here's one more casualty...actually 400 casualties....of big government meddling.
1. "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.
“The minimum wage in the city of Oakland played a factor, was one of the factors, they considered in closing the stores,” Oakland City Councilman Larry Reidtoldthe San Francisco Chronicle.
... this store has been very successful for Wal-mart.”
2. The Oakland location, which ranked among the city’s top sales-tax producers, closed its doors Sunday evening following the corporate announcement. The store’s 400 employees will stay on moving inventory through mid-February,reported the San Francisco Chronicle.
3. 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.
4. California’s minimum wage rose to$10 an hour on Jan. 1. Oakland’s minimum wage was bumped from $9 to $12.25 in March 2015 and was raised to $12.55 at the start of this year.
5. “The true minimum wage is $0.00 an hour,” Sherk said.“Companies do not have to hire workers, and they will not pay them more than the value they create.”
6. If the Oakland Wal-Mart workers don’t find employment by Feb. 10, they will get 60 days of additional pay and a severance package with a week of pay for every year employed by Wal-Mart, reports the San Francisco Chronicle.
7. The San Francisco Chronicle says two Wal-Mart locations in Oakland’s neighboring city ofSan Leandro, where minimum wage is $10, will remain open.
8. The difference between these three locations is the Oakland Wal-Mart has over a 25 percent difference in labor costs for entry-level employees than the San Leandro locations, says Mark Perry, an American Enterprise Institute scholar and professor of economics and finance at the University of Michigan’s Flint campus.
9. “Given the reality that Wal-Mart operates on razor-thin profit margins (only 2.8 percent last quarter), a 25 percent difference in labor costs for entry-level workers can be the difference between a store that turns a profit and a store that barely breaks even, or loses money,” Perrywrote.
Oakland’s Minimum Wage Is Up, Wal-Mart Is Out
One more success story for theDemocrts/Liberals/Progressives who know best.
What is amazing is how many drones bow to this.
Equally amazing that the flashing light "IDIOT" over their heads doesn't keep them awake at night.
Rather than rehash the damage that Franklin Roosevelt did to the economy by instigating the mortgage meltdown by occupying the private home mortgage industry with his shock troops....'Fannie Mae,'....here's one more casualty...actually 400 casualties....of big government meddling.
1. "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.
“The minimum wage in the city of Oakland played a factor, was one of the factors, they considered in closing the stores,” Oakland City Councilman Larry Reidtoldthe San Francisco Chronicle.
... this store has been very successful for Wal-mart.”
2. The Oakland location, which ranked among the city’s top sales-tax producers, closed its doors Sunday evening following the corporate announcement. The store’s 400 employees will stay on moving inventory through mid-February,reported the San Francisco Chronicle.
3. 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.
4. California’s minimum wage rose to$10 an hour on Jan. 1. Oakland’s minimum wage was bumped from $9 to $12.25 in March 2015 and was raised to $12.55 at the start of this year.
5. “The true minimum wage is $0.00 an hour,” Sherk said.“Companies do not have to hire workers, and they will not pay them more than the value they create.”
6. If the Oakland Wal-Mart workers don’t find employment by Feb. 10, they will get 60 days of additional pay and a severance package with a week of pay for every year employed by Wal-Mart, reports the San Francisco Chronicle.
7. The San Francisco Chronicle says two Wal-Mart locations in Oakland’s neighboring city ofSan Leandro, where minimum wage is $10, will remain open.
8. The difference between these three locations is the Oakland Wal-Mart has over a 25 percent difference in labor costs for entry-level employees than the San Leandro locations, says Mark Perry, an American Enterprise Institute scholar and professor of economics and finance at the University of Michigan’s Flint campus.
9. “Given the reality that Wal-Mart operates on razor-thin profit margins (only 2.8 percent last quarter), a 25 percent difference in labor costs for entry-level workers can be the difference between a store that turns a profit and a store that barely breaks even, or loses money,” Perrywrote.
Oakland’s Minimum Wage Is Up, Wal-Mart Is Out
One more success story for theDemocrts/Liberals/Progressives who know best.