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Thread: Los Angeles Raises Minimum Wage to $15 an Hour

  1. #341
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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Well, yeah, it's a simplified scenario.

    By all means, come up with your own and present it.
    Why would one wish to spend a mountain of effort with one (of thousands) of hypotheticals to "prove" something? One can just as easily change numbers on sales volume, rent, margin, other costs of doing business etc. to "prove" that a "typical" restaurant owner is as rich as Bill Gates or as poor as St. Francis of Assisi? Now, it happens that the hypothetical offered by Selvin K. was illustrative of a possible business - an owner whose "salary" is very modest 52K a year, and an implied price adjustment of upto 16 percent over 5 years (which was a number I came to using the simplified 1/3rd of labor cost rule) BUT these are just one of hundreds or thousands of possibilities.

    What we do know, however is that:


    a) 2/3rds of restaurant ventures fail. In other words, the majority don't make survivable profit or lose money (sometimes an owner's entire savings).

    b) Whatever the inflation rate in the industry, the hypothetical price increase from min. wage is added on top of that (which causes more business customer loss) or it is taken out of profit (which is likely to be small given the failure rate).

    c) All costs are an every year, month, and day issue. If an owner has to pay an average increase in min wage salary of 8-10 percent more per year, its a cost added to rising food, rent, utility, and maintenance costs.

    d) In general, shop-keepers don't just absorb it. Its a highly competitive industry and most use alternate strategies to stay afloat: eg, cut food quality, restrict benefits, cut air conditioning, cancel benefit increases, delay or restrict future raises, cut hours, reduce employees, etc.

    You don't need a 'scenario', you need a reality check with the everyday challenges of the some who survive, and who do not survive.
    Last edited by maxparrish; 05-22-15 at 09:04 PM.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by ocean515 View Post
    I did. That's why I didn't question your city population number. Everything else missed the mark by a country mile. Best step down from the perch before another contrarian brings more fact to fiction.
    Oh nonsense. You DID question my population number: a lot of times, people say Los Angeles and they mean - ya'know L.A. at large. Still 800,000 unemployed for that town isn't all that bad in today's market. And everything else was pretty much on target. Look $15 an hour is what's going to be. Pomona's retail space is only $16 a square foot, open up there and you can still pay only $9 an hour minimum which will protect your spread. Don't be ashamed. It's okay if you can't hack the big time.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by jet57 View Post
    Oh nonsense. You DID question my population number: a lot of times, people say Los Angeles and they mean - ya'know L.A. at large. Still 800,000 unemployed for that town isn't all that bad in today's market. And everything else was pretty much on target. Look $15 an hour is what's going to be. Pomona's retail space is only $16 a square foot, open up there and you can still pay only $9 an hour minimum which will protect your spread. Don't be ashamed. It's okay if you can't hack the big time.
    LOL

    Give it a rest jet57. You've been thoroughly debunked and exposed. You can't even calculate unemployment correctly. Have a nice weekend.
    President Donald J Trump, 45th President of the United States of America. A victory born in the hearts and minds of Everyday Americans

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by ocean515 View Post
    LOL

    Give it a rest jet57. You've been thoroughly debunked and exposed. You can't even calculate unemployment correctly. Have a nice weekend.
    I've not been debunked by any stretch of the imagination, least of all by you. Exposed as a poster who knows what he's talking about? Okay, I'll accept that.

    You just can't hack reality. Oh, and I have a great weekend planned thank you. YOU do the same.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by Fenton View Post
    Sure if you're rich enough to own property and or buy a home.

    Its "No Poor People Allowed "in places like Berkeley and San Fransisco and Palo Alto.

    Well that's not right'' its "Middle Class Allowed ".

    I mean really, who can retire in a place like Palo Alto?Not your average Middle Class American.
    Yeah, I know what you mean. The housing market has been artificially inflated - again: there's no inventory, so when a house comes up there's a feeding frenzy and the place goes for way over asking price, ya'know, which is good if you're moving to Shrubbery Nebraska, but people aren't sellin out because - where ya gonna go? A friend just sold her condo, and bought a 4 bedroom place out in the central valley, to be near here kids (son and family). But why would a retiree buy a 4 bedroom home? So her kids can have it when she's gone.
    “The people do no want virtue; but they are the dupes of pretended patriots” : Elbridge Gerry of Mass; Constitutional Convention 1787

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by jet57 View Post
    Yeah, I know what you mean. The housing market has been artificially inflated - again: there's no inventory, so when a house comes up there's a feeding frenzy and the place goes for way over asking price, ya'know, which is good if you're moving to Shrubbery Nebraska, but people aren't sellin out because - where ya gonna go? A friend just sold her condo, and bought a 4 bedroom place out in the central valley, to be near here kids (son and family). But why would a retiree buy a 4 bedroom home? So her kids can have it when she's gone.
    My Aunt and Uncle live in Berkeley and she teaches at Berkely SoCal.

    They're huge Libs but I love them anyway.

    Last time they came to Houston we were talking about the Housing situation in California.

    I asked what my 2500 Sq Ft home (valued at around 190 k ) would go for in Berkeley. I don't even remember his answer. I was just shocked !!

    Unbelievable. They have the best Weather and location in the Country but its so expensive to live there that only the we'll off can manage it.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by KevinKohler View Post
    So, by making it easier for businesses to operate, money will materialize in people's pockets to spend?
    usually pro-business ideals drive economic activity. that in turns creates more jobs and more demand for workers. higher demand for workers leads
    to higher wages as companies seek workers to come work for them.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by Fenton View Post
    My Aunt and Uncle live in Berkeley and she teaches at Berkely SoCal.

    They're huge Libs but I love them anyway.

    Last time they came to Houston we were talking about the Housing situation in California.

    I asked what my 2500 Sq Ft home (valued at around 190 k ) would go for in Berkeley. I don't even remember his answer. I was just shocked !!

    Unbelievable. They have the best Weather and location in the Country but its so expensive to live there that only the we'll off can manage it.
    A friend of mine once owned a 3000 sq foot house in Berkeley, sold it for 57K in the late 60s or early to mid 70s. Current worth is 3,000,000. He now lives in some nice Section 8 housing, kicking himself everyday that he sold that house (and joined a SF commune).

    As you may have noticed, I do live near Berkeley...except I live in a modest 1210 sq ft house in a so-so, not so great working class area adjacent to the poor area of Richmond. My house value is over 400K BUT I feel like a not successful guy, given that my boss lived in Palo Alto and now Carmel Valley.

    I would love to retire in a better area of coastal California but the California I grew up in (1950s and 1960s) in long gone. Back then anyone middle class could live in Marin or near/on the coast. I grew up in the Carmel Valley area (just outside of it) and we thought of it as middle to slightly upper middle class living. A buddy lived in a beach house, with two other students in So. California. A friend of my dad, an enlisted man in the Navy, owned a beach house in the Monterey area. The state had 18,000,000 in population, lots of great country-side and lots of working class small towns (the Wine country being rural farms).

    The national and state politics have changed that. Unrestricted foreign immigration has increased the pop to 40,000,000 - all the great little small towns have turned into 'boutique" villages for the best off, and the really nice areas are islands for the most well heeled elite sorts, keeping the remainder of us into a multi-cultural mix of rag-tag immigrants, poorer whites, blacks, etc. I can no longer live in even the lettuce capital of Salinas, the most clean and most boring middle-class town I have ever lived in - now its way too expensive. And, as one might expect, the sense of California history and heritage has been swamped by a replacement population totally disconnected from the prior regional culture.

    Beach combers, surfer culture, living on beaches, driving one's cars on beaches, holing up in redwood forests in domes...all that is gone...crushed by population and the heavy hand of government.

    The cost of living is very high (from car tags to parking tickets), the sense of community is gone, and it is just a 'place to live'...much like it is just 'a place to visit'. THE ONLY thing that holds me is the climate - I live in an area that, even for the bay area, is almost perfect.

    BUT I am looking to move - my retirement here is just too expensive. But where? That is the vexing question.
    Last edited by maxparrish; 05-22-15 at 10:28 PM.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by SlevinKelevra View Post
    I'm not sure how you come to that conclusion. If the $ is there right now in the form of transfer payments, it could be there instead in the form of wages.
    Have you ever operated a business? Be honest.

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    Re: Los Angeles Raises Minimum Wage to $15 an Hour

    Quote Originally Posted by countryboy View Post
    Have you ever operated a business? Be honest.
    Yes, I have and do.

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