JCM 3/23/2024 8:24:39 AM

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Two Seattle headlines juxtaposed.

2 teenage boys found fatally shot along I-5 in Seattle within 10 hours

and

Seattle's new McDonald's ignites hope for downtown revival despite crime concerns

Occasional Reader 3/23/2024 10:44:38 AM

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Reply to JCM in 1:

In a way, the second headline is even sadder than the first.

Occasional Reader 3/23/2024 10:44:55 AM

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JCM 3/23/2024 12:23:11 PM

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Reply to Occasional Reader in 2:

Expecting revival to come from a fast food chain.

Pathetic.

Kosh's Shadow 3/23/2024 1:50:32 PM

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In #4 JCM said: Expecting revival to come from a fast food chain.

That's what has happened to the US under globalism. 

Fast food jobs were supposed to give teenagers some spending money and work experience. But we outsourced our manufacturing to China and with it, well-paid jobs.

Every 30% increase in the minimum wage for fast food requires revenue to go up 10% (Labor is 1/3 the cost).

Increasing the monimum wage increases costs so the minimum wage worker is basically where he started.

Kosh's Shadow 3/23/2024 1:59:56 PM

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In #5 Kosh's Shadow said: Fast food jobs were supposed to give teenagers some spending money and work experience

THat is, they were not supposed to bring in enough income to live on.

Kosh's Shadow 3/23/2024 5:03:24 PM

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6% profit is good for a fast food establishment.

1/3 of expenses are labor.

Let's say the place gets $10 million in revenue

Profit is 600,000; expenses 9.4 million. Labor costs (rounding a bit) 3.1 million.

Increase labor costs from $15 to $20/hr, that is a 30% increase

Labor costs now go up by around 1 million. Profit goes to 400,000 loss. Have to increase revenue by 400000/0.6 = 6.666 million or 60% which means raising prices over 60% to compensate for fewer customers

Or lay off workers and use robots. Or go out of business.

Kosh's Shadow 3/23/2024 5:06:43 PM

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Another great government meddling in the law of supply and demand is rent control.

Tell property owners what they can charge can only go up so fast but with no such restrictions on their expenses. That means investors do not invest in rental properties, cutting down the supply.

Last time it was tried in Massachusetts, there was a wave of condo conversions. 

At least our pevious RINO governor realized the solution was to increase housing supply. 

Kosh's Shadow 3/23/2024 6:40:40 PM

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Kosh's Shadow 3/23/2024 6:51:11 PM

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Kosh's Shadow 3/23/2024 7:09:44 PM

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