[exit82]

But that may not last. Hibbs says that the $15-an-hour minimum wage will require a staggering $80,000 in extra revenue annually. “I was appalled!” he says. “My jaw dropped. Eighty-thousand a year! I didn’t know that. I thought we were talking a small amount of money, something I could absorb.”

You have been in business for 26 years? You should have been able to calculate this in less than a minute.

He evidently makes a profit solely by accident.

[upchuck]

BUMP! When I was in business we did a detailed payroll projection for next month, next quarter and for the year.

Putting this into a spread sheet made it fairly simple to play “what if” games. What if I give Joe a 10% raise? How much additional revenue will it take to bring on four more people? We have new contracts that total 105K/year. How many more people can we hire on that? Etc.

Based on what we see in this article, if Mr. Hibbs has made a profit every year since 1989, it has been by accident. He is indeed lucky.

[Breyean]

Plus he evidently isn’t making all that much anyway? How can he afford to live in the SF on a profit of less that $80k per year?

As a good progressive, if he’s making more than that, he s/b PROUD to redistribute his excess profits to his poor employees.

But if he can’t absorb an incremental $80k in costs, he’s not exactly raking it in.