Restaurant chain shuts down nearly 50 locations in California following minimum wage hike

[TimHauck 3,285]

6 hours ago, GutterBoy said:

Thank you for proving me right, they LITERALLY didn't mention the minimum wage.  Rising costs in California?  Insurance? Gas? Labor?  Taxes?  All kinds of rising costs.

Go away retard.

They were almost certainly trying to imply the minimum wage increase, but they definitely didn’t “LITERALLY” say it, lol

[EternalShinyAndChrome 4,339]

5 hours ago, jerryskids said:

I'm beginning to sense that you don't like police...

Most communists don't. 

[TimHauck 3,285]

9 hours ago, TheNewGirl said:

I imagine the bankruptcy was possibly due to Covid and the Trump era closures or whatever you want to refer to them as. They filed for Chapter 11 twice in four years. 

They filed once in 2020 after closing about 12 stores due to pandemic, and then again just a few weeks ago after closing up to 50% of their stores; stating that it was due to an increase in wages (25% increase in wages for them). 

So you can blame it both on Trump/pandemic policies and minimum wage increases. Both appear to be true as there were two Chapter 11 filings. 

WALLAH. 

The interesting thing about the 2020 closures is that they exited Florida (and Colorado) then.   So righties can’t blame those on California lockdowns.

[torridjoe 48]

11 hours ago, EternalShinyAndChrome said:

 

"probably"?  Good guess but it's a direct result of the wage increase.  I know you all want to protect Newsome and the Democrats, but the evidence and data against you is too overwhelming.  The fact of the matter is these locations would have still been open and people still would have had jobs had the gubmint not interfered.  It's not even debatable at this point.

There’s zero evidence to back you up. As usual you’re just a frustrated toddler pissing all over your room. 

[seafoam1 3,401]

55 minutes ago, torridjoe said:

There’s zero evidence to back you up. As usual you’re just a frustrated toddler pissing all over your room. 

The evidence is the reality of the situation. You liberals are so programmed to think only what you are told by liberal media and politicians is mind numbing to see. 

[Maximum Overkill 2,400]

But, but, but it's the best economy ever!!!  

[RLLD 4,275]

1 hour ago, Maximum Overkill said:

But, but, but it's the best economy ever!!!  

It is damnn hard to lie successfully to people when they are living something else

[GutterBoy 2,900]

5 minutes ago, RLLD said:

It is damnn hard to lie successfully to people when they are living something else

These people just made bad choices.

[RLLD 4,275]

2 minutes ago, GutterBoy said:

These people just made bad choices.

That is exactly correct!   Too many people do not understand this simple concept!

Now, as a result of their stupid choices they live in a place where policy decisions that are also rather stupid hurt them disproportionately.

[Sean Mooney 2,045]

7 minutes ago, GutterBoy said:

These people just made bad choices.

They need to work harder...I mean I'll never be a physicist.

You could be if you worked harder.

Well no...not me. My work harder argument only applies to poor people. 

[GutterBoy 2,900]

15 minutes ago, RLLD said:

That is exactly correct!   Too many people do not understand this simple concept!

Now, as a result of their stupid choices they live in a place where policy decisions that are also rather stupid hurt them disproportionately.

Yup.  Poor people need to stop blaming others for their own problems.  It's not Biden's fault it's their fault.  If they made better decisions then nothing else matters.  Inflation doesn't matter, only choices.

Glad we're on the same page and we can stop blaming inflation on our problems.

[RLLD 4,275]

Just now, GutterBoy said:

Yup.  Poor people need to stop blaming others for their own problems.  It's not Biden's fault it's their fault.  If they made better decisions then nothing else matters.  Inflation doesn't matter, only choices.

Glad we're on the same page and we can stop blaming inflation on our problems.

Not exactly, but you are closer than you have been in the past.

Making stupid mistakes makes your life harder.  Later, when things do not go well.....your life will get....wait for it......harderrrrr 

So, if the government does something stupid....which it invariably will....and they...oh I dont know....foment extravagant real estate prices that create a chasm between intrinsic home values and loans....and then that all comes crashing down on your investments....should you cry like a little b!tch about it, if you supported that market change? 

 

[BeachGuy23 642]

11 minutes ago, RLLD said:

Not exactly, but you are closer than you have been in the past.

Making stupid mistakes makes your life harder.  Later, when things do not go well.....your life will get....wait for it......harderrrrr 

So, if the government does something stupid....which it invariably will....and they...oh I dont know....foment extravagant real estate prices that create a chasm between intrinsic home values and loans....and then that all comes crashing down on your investments....should you cry like a little b!tch about it, if you supported that market change? 

 

Can you explain how the government accomplished the bolded please. 

[RLLD 4,275]

11 minutes ago, BeachGuy23 said:

Can you explain how the government accomplished the bolded please. 

Oh man, some of these choads are going to hold considerable consternation that you  sought this out....

I delve into it in several threads....

Here

Here

Here

Here

Here

And a nice follow up to my original posting about it from sux  

Quote

 

I haven't read a single comment in this thread, but I finally watched The Big Short last night and of course thought of RLLD.  I'm assuming that the timeline about what and how it happened was close to accurate.

Damn, dude...Were you one of the characters in the movie?  Either way. Mucho props to you for calling it when you did

 

 

Long and short of it, I will over simplify here.....though if you get the urge to search, you will find considerable content.

The community reinvestment act of the late 70's was plucked up by the Clinton administration, they expanded it to increase the home ownership of people who could not afford homes and in the process perverted the market.....sound familiar?    Then later, Greenspan fiddled with the rates to such an extent that the banks created CDO's and with that the destruction of the markets....

 

 

[BeachGuy23 642]

4 minutes ago, RLLD said:

Oh man, some of these choads are going to hold considerable consternation that you  sought this out....

I delve into it in several threads....

Here

Here

Here

Here

Here

And a nice follow up to my original posting about it from sux  

 

Long and short of it, I will over simplify here.....though if you get the urge to search, you will find considerable content.

The community reinvestment act of the late 70's was plucked up by the Clinton administration, they expanded it to increase the home ownership of people who could not afford homes and in the process perverted the market.....sound familiar?    Then later, Greenspan fiddled with the rates to such an extent that the banks created CDO's and with that the destruction of the markets....

 

 

Ah got it, thanks.

[GutterBoy 2,900]

1 hour ago, RLLD said:

Not exactly, but you are closer than you have been in the past.

Making stupid mistakes makes your life harder.  Later, when things do not go well.....your life will get....wait for it......harderrrrr 

So, if the government does something stupid....which it invariably will....and they...oh I dont know....foment extravagant real estate prices that create a chasm between intrinsic home values and loans....and then that all comes crashing down on your investments....should you cry like a little b!tch about it, if you supported that market change? 

 

Nope, can't cry about it.  Should make better choices.

[RLLD 4,275]

5 minutes ago, GutterBoy said:

Nope, can't cry about it.  Should make better choices.

You have grown....metaphorically....

[Baker Boy 1,710]

California fast food wage hike has had detrimental impact, puts businesses in 'jeopardy,'

Workers at many California fast food restaurants began earning $20 per hour on April 1 following the passage of a state law last year

https://www.foxbusiness.com/economy/california-fast-food-wage-hike-detrimental-impact-businesses-jeopardy-critic-says

Quote

The California Business and Industrial Alliance (CABIA) said nearly 10,000 jobs have been cut across fast food restaurants since Newsom signed California Assembly Bill 1287 into law last year.

 

[Hardcore troubadour 15,908]

You have to love that a corporation says it’s going out of business with one of the factors being increased mandated labor costs and all of the economic geniuses here say no it’s not. Lol 

[GutterBoy 2,900]

3 minutes ago, Hardcore troubadour said:

You have to love that a corporation says it’s going out of business with one of the factors being increased mandated labor costs and all of the economic geniuses here say no it’s not. Lol 

Except the corporation didn't say it's going out of business, also the corporation didn't say one of the factors being increased mandated labor costs

 

[TimHauck 3,285]

4 minutes ago, GutterBoy said:

Except the corporation didn't say it's going out of business, also the corporation didn't say one of the factors being increased mandated labor costs

 

They definitely implied that. But I see the Geek club is OK with paraphrasing now.  You’re just not allowed to do it to Harrison Butker

[Hardcore troubadour 15,908]

8 minutes ago, GutterBoy said:

Except the corporation didn't say it's going out of business, also the corporation didn't say one of the factors being increased mandated labor costs

 

Bankruptcy.  Got me cuck. Congrats on your semantic victory. 

[GutterBoy 2,900]

1 minute ago, Hardcore troubadour said:

Bankruptcy.  Got me cuck. Congrats on your semantic victory. 

They declared bankruptcy years ago you idiot, nothing to do with the minimum wage increase.  Please just stop already.

[Sean Mooney 2,045]

16 minutes ago, Hardcore troubadour said:

You have to love that a corporation says it’s going out of business with one of the factors being increased mandated labor costs and all of the economic geniuses here say no it’s not. Lol 

Do you ever get tired of being wrong

[EternalShinyAndChrome 4,339]

12 minutes ago, GutterBoy said:

They declared bankruptcy years ago you idiot, nothing to do with the minimum wage increase.  Please just stop already.

And yet up until a few weeks ago they had all of the 50 locations open despite being in bankruptcy. 

What changed, you f'n moron?  Let me tell you - wage increase.  

You really don't know how any of this works, do you?

[RLLD 4,275]

“What we're seeing right now is, I think, unfortunately, the beginning of a trend in restaurant closures,” said Jot Condie, president and CEO of the California Restaurant Association.

Now we should take this with a grain of salt.  Anytime we hear anything from some group dedicated to an "association" we need to understand there is serious bias in play.

But common sense, for anyone with even a modest understanding of economics, would tend to suggest the statement is true. I have to wonder, will the damage done here also result in the consideration for preventing these places from closing as it has elsewhere with markets?  I also have to wonder, at what point.....does not stop to wonder if they are harming more than helping....

[Engorgeous George 2,332]

Never eaten at a Rubios and I don't live in California so I have no idea how competitive the local restaurant market is or how varied are the real estate lease prices, so I can't speculate whether the chain made bad lease deals.  Being wholly ignorant on the matter I went to Rubios site and read their "about us" section.  Seems the owner started with one stand in 1983 and expanded to over 100 locations.  Now I don't know much but I would venture to guess most would call this a success story and the man a shrewed business man, yet in this thread we see folks speculating that he was the cause of his own demise.

 

BTW, the videos of the food looked good.  I would try it for sure.   

[Hardcore troubadour 15,908]

What else is funny is that our resident finance gurus (lol) don’t think that this mandated wage increase on the bigger chains has no affect on the smaller ones and independents. They never cease to amaze with their short sighted conclusions. 

[Bier Meister 1,748]

27 minutes ago, Engorgeous George said:

Never eaten at a Rubios and I don't live in California so I have no idea how competitive the local restaurant market is or how varied are the real estate lease prices, so I can't speculate whether the chain made bad lease deals.  Being wholly ignorant on the matter I went to Rubios site and read their "about us" section.  Seems the owner started with one stand in 1983 and expanded to over 100 locations.  Now I don't know much but I would venture to guess most would call this a success story and the man a shrewed business man, yet in this thread we see folks speculating that he was the cause of his own demise.

 

BTW, the videos of the food looked good.  I would try it for sure.   

i went to college in san diego late 80's early 90's.  origin of fish tacos in the US. they were good at the time.

 

with their growth, quality decreased and prices rose. so it is not bad, but now fish tacos are prevalent and less expensive elsewhere.

[jerryskids 7,054]

1 hour ago, Engorgeous George said:

Never eaten at a Rubios and I don't live in California so I have no idea how competitive the local restaurant market is or how varied are the real estate lease prices, so I can't speculate whether the chain made bad lease deals.  Being wholly ignorant on the matter I went to Rubios site and read their "about us" section.  Seems the owner started with one stand in 1983 and expanded to over 100 locations.  Now I don't know much but I would venture to guess most would call this a success story and the man a shrewed business man, yet in this thread we see folks speculating that he was the cause of his own demise.

 

BTW, the videos of the food looked good.  I would try it for sure.   

We used to have one close to us, it's quite good.  I'd say a step above fast food, $10-15 range.

Just looked, there are a few still around within 5 miles, and lunch is coming up.  That Mexican corn bowl with shrimp or seafood looks yummy...

[RaiderHaters Revenge 4,527]

unless you make bread and donate to Newsom, then of course you don't have to pay 20$ an hour

 

[torridjoe 48]

18 hours ago, seafoam1 said:

The evidence is the reality of the situation. You liberals are so programmed to think only what you are told by liberal media and politicians is mind numbing to see. 

1. Not a liberal, fuckwit.

2. Being not a liberal, why would I listen to whatever you consider “liberal media?” But your response to offering no evidence is to say “look, the evidence is right here (waves hands).” LOL sure that’s convincing. What interference? How? 

[torridjoe 48]

7 hours ago, Engorgeous George said:

Never eaten at a Rubios and I don't live in California so I have no idea how competitive the local restaurant market is or how varied are the real estate lease prices, so I can't speculate whether the chain made bad lease deals.  Being wholly ignorant on the matter I went to Rubios site and read their "about us" section.  Seems the owner started with one stand in 1983 and expanded to over 100 locations.  Now I don't know much but I would venture to guess most would call this a success story and the man a shrewed business man, yet in this thread we see folks speculating that he was the cause of his own demise.

 

BTW, the videos of the food looked good.  I would try it for sure.   

How is expansion necessarily a sign of success? Could just as easily be overreach. Could be shrewd, more likely exploitative and coddled by banks. 

[Baker Boy 1,710]

In-N-Out raises California prices in response to minimum wage hike

In-N-Out Burger in California is charging higher prices to keep up with inflation and a new minimum wage increase
 

https://www.foxbusiness.com/lifestyle/in-n-out-raises-california-prices-response-minimum-wage-hike

 

[Maximum Overkill 2,400]

In-N-Out Burger customers are paying more for their Double-Doubles and shakes after California's new minimum wage law went into effect.

The California-based burger chain told local news station KTVU that it has raised menu prices across the Golden State. The price increases reportedly took effect on the same day California bumped up its minimum wage. 

"On April 1st, we raised our prices incrementally to accompany a pay raise for all of the Associates working in our California restaurants. The price increase was also necessary to maintain our quality standards," In-N-Out told KTVU in a statement