California Fatburger manager trims hours, eliminates vacation days and raises menu prices in anticipation of $20/hour fast food minimum wage. That seems like a best case...
That’s not how any of this works. You don’t do that beforehand because there will be 20$/h. If you actually need this—you prepare plans conditional on wages becoming 20$/h. If you do this now, that’s because of greed. And because of greed you’ll also repeat it when the wages will rise.
There are lead times to a lot of these actions, costs to do so are often fixed, and no reason to expect the rules changes not to happen. I buy that it is efficient to do so early.
‘Greed’ I consider a non-sequitur here, the manager will profit maximize.
That’s not how any of this works. You don’t do that beforehand because there will be 20$/h. If you actually need this—you prepare plans conditional on wages becoming 20$/h. If you do this now, that’s because of greed. And because of greed you’ll also repeat it when the wages will rise.
There are lead times to a lot of these actions, costs to do so are often fixed, and no reason to expect the rules changes not to happen. I buy that it is efficient to do so early.
‘Greed’ I consider a non-sequitur here, the manager will profit maximize.