Quote:
Originally Posted by rusnak
Since the unfortunate demise of that proud institution (which btw my mom still mourns) minimum wage has gone up 17% in addition, and will go up another 17% again this year. That would force almost anyone out of business. And what most people still don't understand is that there are additional costs to employers to just the wage increase. Payroll taxes and workman's comp also go up, as does liability insurance, etc. etc.
I contend that the minimum wage increase that will occur this year will spell disaster for many, many people. Those companies that survive will be choked so lean, that there will be nothing left for raises and bonuses for good employees.
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So how are Nordstroms, Macys, Target, Kohls, Walmart, and all the other department and discount stores still in business and quite profitable? Maybe they just out-competed Gottschalks?