LOVE THY LABOR
Why it matters to you: A restaurant exec as Secretary of Labor, Wow!
You had likely never heard the name Andrew Puzder before this past week. Now, to be sure we all know he is the CEO of CKE that operates Carl’s Jr and Hardee’s. This really is a double edge sword. Our readers are a mix of Owners, managers, chefs, cooks and bartenders. That means there are equally as many opinions on this appointment. As a fast food CEO, he saved his business and created jobs. He is experienced and it’s an amazing thing to have one of our own in a position like this. But, are you sure you know where he stands on the issues that matter to you…well, here you go.
Puzder wrote an op-ed decrying the cost of a proposed $10.10 minimum wage proposed by the Obama Administration but has acknowledged that some increase is in acceptable. He stands against the new O/T exemptions rules that were delayed the first of this month. Robots have been a particular fixation and his plan to eliminate employees in favor of them. His company has paid fines for unfair labor practices, but they aren’t as bad as McDonald’s or Taco Bell. Finally, he has no government experience…which isn’t necessarily a bad thing.
The takeaway here must be, it can’t hurt that he was chosen. There is clear evidence he will be good for most business owners. Controlling labor cost through regulation is always risky. Although early indications in cities like Seattle and San Francisco are that increasing the minimum wage has no overall negative outcomes. So even if that happens we will survive. Other issues like unionization and paid sick leave, will not likely get national attention as long as Trump occupies the White House.
LEAVING ON A JET PLANE [Song]
Why it matters to you: The $16 billion dollar Boeing order from Iran Air is good for business all over.
If you are a news junky like we are, then you saw that Boeing announced an 80 plane order from Iran Air. While the deal will still need to overcome some political hurdles, it bears thinking about the implications of a transaction of this size for our community. Boeing and their subsidiaries support nearly 100,000 jobs and those are held by people all over the country. You could easily experience and uptick in business if you are in an area that has a place in the Boeing supply chain. This is why international trade is still relevant to us. That is trickle-down economics when it’s supposed to work. So, keep your eyes open if you are near any Boeing suppliers or manufacturing facilities. Who knows, you could be thanking the Iranians for a sharp increase in lunch sales…just sayin’.
GIVE ‘EM A BREAK
Why it matters to you: We offer the millennial generation a place where they can succeed now
Here’s the lead, only half of millennials earn more than their parents and they are the first generation where that is overall the case. Much has been made about the trials and tribulations of this big generation, but it’s really not of their own doing. A recently published study Stanford discussed that and the causes. They concluded that income inequality is the biggest cause, although isn’t something restaurant operators are guilty of here. However, the upside is that we have a highly educated and very hungry group of young professionals. It’s time our industry proved that we are a great place for an up and coming person to get their start. All we have to do is invest in growing them and the results will be better operations and growth for our industry.