LA passes $30 tourism wage, hotels say they’ll convert to homeless shelters

The Center Square via msn ^ | 12 Dec 2024 | Kenneth Schrupp

[libertylover]

They never learn.

[RoosterRedux]

Here's something for you (see article above).

Wouldn't converting a hotel into a homeless shelter trigger a loan default for breaching a "change of use" clause?

Aren't such restrictions standard in hotel loans to safeguard against potential loss of value?

From my experience raising capital through bond issuance for hotel clients, real estate-secured debt always included such clauses.

[Pearls Before Swine]

Unions love this, because they bargain on a minimum wage plus premium. It pushes up their whole pay scale.

[cgbg]

As you know it is all in the fine print—but in most cases you are correct—technical loan default.

[mewzilla]

Talk. Is. Cheap.

[mewzilla]

They’ll all do what they’re told as long as Deep State keeps shoveling taxpayer money at them.

It’s that simple.

[cgbg]

There is an amazing differential in different states for the retail price of cigarettes:

https://worldpopulationreview.com/state-rankings/cigarette-prices-by-state

This guarantees a thriving black market in the high cost states.

[Migraine]

could leave some with no option but to convert to homeless housing

For the lefties, this is the endgame. Convert as many hotels as possible to welfare hotels. It's part of the "fundamental transformation" cesspool.

[Vaduz]

Starting 2025 in California the minimum wage will be $16.50.

The bill for wages to be $17.50 failed by the voters Soooo the state did it’s gig to make it $16.50.

Going to be a lot of businesses going under because of it.

State won’t call it wet back wages it’s umm for all.

[unlearner]

Reads like Babylon Bee. What a world we live in.

[metmom]

So housing the homeless is more profitable than running a hotel?

Only in CA.

[frogjerk]

Why not $50? $75, does it really matter at this point?

[Myrddin]

I was standing in line at the checkout in Walmart the other day. I noticed the premium cigarettes such as Malboro were just shy of $10 a pack. I had no idea that they cost that much.

My family stayed in a hotel in Honolulu upon arrival on a ship from San Francisco. We were waiting for Navy quarters. The cigarette vending machine in the hotel lobby sold Marlboro for 30 cents a pack. 1961.

[Lazamataz]

We were waiting for Navy quarters. The cigarette vending machine in the hotel lobby sold Marlboro for 30 cents a pack.

So even if you got your Navy quarters, you'd have been 5 cents short.

[Islander7]

LA = Louisiana

L.A. = Los Angeles

When are journalists going to get it right?

LA = Lower Alabama. Get with the program!

[Myrddin]

I went to a ham radio club Christmas party last night with my wife and son. Our drinks: diet coke, unsweetened ice tea, horchata. My wife and I ordered entrees with 1 taco and 1 enchilada with rice and beans. My son ordered a chicken quesadilla. The food was good. The amount of ground beef in my taco/enchilada was meager. Our bill was $68 including the large group gratuity.

It was the first party of any kind that I've attended in the last 15 years. I was there to see my friends. The cost of the food was a one off.

[Ge0ffrey]

California government has taken over the private sector.

[lastchance]

“Hotels say the new wage increase is unaffordable, especially with income for many hotels flat as other costs rise, and could leave some with no option but to convert to homeless housing...”

Which was the council intent all along, no doubt.

[wafflehouse]

The BEAR analysis said that hotel and airport payroll costs would increase by 32%, consumer prices at businesses paying the wage would increase 6%, and that consumer spending would be $21 million lower than otherwise by 2028.

BEAR claimed that these changes would result in a gain of 6,319 local jobs

so let me get this straight.. payroll costs increase. consumer prices increase AND consumer spending would decrease. and this adds up to +6300 jobs?

i want some of what they are smoking

[bgill]

$30 min. wage plus $5 (? more) per bag and sheets and to put a paper strip on the toilet. Is it any wonder we haven’t taken a vacation for 15 years. Ya know, I put the suitcase in the car free of charge, I think I can take it out as well and roll it through the lobby.

Well, there goes Mickey D’s prices, too. Lets see, ground beef, homemade thousand island dressing, lettuce, cheese, pickles, onions on a homemade bun but none will miss the sesame seeds, add some jalapenos because why not, fries from a real potato and lemonade because I want it my way. And all the ketchup I want since they always seem to forget even when you tell them twice = $2.