Wednesday, June 4, 2014

Business Wednesday

Seattle, Washington is hiking its minimum wage to $15 an hour.  Small business owners and franchise owners say they'll sue to block it.  They claim they can't afford it.

No one is arguing that it's tough to live on minimum wage, but our economy is built on supply and demand.  If a business can't fill positions, it has to raise pay to attract candidates.  If there are a lot of people who want the job, the business can get away with paying less.

I've long contended that the answer to our woes is not hiking the minimum wage.  The solution is to make higher education and job training affordable.

Dollar General plans to open 700 new stores this year.  Translation:  people want and need cheap stuff.  Not everyone can afford to hit the mall on a regular basis.  Dollar General fills a huge need in this country.  Yes, I'm an occasional visitor.

Krispy Kreme reported disappointing earnings in the first quarter.  Management blames the economy.  Remember, not so long ago, when Krispy Kreme was the hottest thing around?

USA Today reports there could be a whiskey shortage.  The reason?  Increased demand.  If that doesn't tell you about life in 2014, nothing does.

The world jumps when Apple makes a product announcement.  I yawn.

Box Office Mojo says The Lego Movie is the top grossing movie of the year, so far.  Captain America is a close second.