Over the past several months, we've highlighted a number of economic studies analyzing the potential negative impact, in terms of job losses, that may be expected to result from the state-mandated minimum wage hikes that are currently being implemented around the country...that said, here are a couple of examples of why the issue may be much larger than anyone expects.
In an attempt to recover its eroding client base, McDonald's will soon provide an in-home delivery service. The company, which has been offering delivery for many years in Asia, is now testing delivery in the U.S. and Europe and more Asian markets. In Florida, it has partnered with ride-sharing service Uber to deliver food.
If there is any economic assumption that goes unquestioned, it's the notion that profits will remain robust for the foreseeable future. This assumption ignores the tidal forces that are now flowing against profits.
Starting tomorrow, Uber drivers around the country will join protests organized by the union-backed "Fight For $15" organization. But, with autonomous vehicles just around the corner, drivers should be careful what they wish for...
"...I go along with the argument advanced by others that it would probably be better for Hillary to win, because that way the right people (the gang already in power) will be blamed for the descent into the maelstrom and will be expeditiously swept away..."
"When I first sat down to compile this week’s quotes, I thought that the picture was going to be a positive one. However, as I assembled the piece, I realized that the commentary from this week was mixed at best. In particular, comments from consumer facing businesses are somewhat troubling."