Saturday, June 17, 2017

The Law of Unintended Consequences

The Fresno Bee: Jeremy Bagott on what California's $15 minimum wage is doing to the restaurant industry. An excerpt:

Joining San Francisco’s restaurant die-off was rising star AQ, which in 2012 was named a James Beard Award finalist for the best new restaurant in America. The restaurant’s profit margins went from a reported 8.5 percent in 2012 to 1.5 percent by 2015. Most restaurants are thought to require margins of 3 and 5 percent.

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