re: #47 Dark_Falcon

“What happened to the Subway? I wanted to get some thing to eat before my flight started boarding.”

“It closed because its profits tanked. The the public made the franchise owners pay more than the job was worth.”

Would you like to make a bet, Dark? You’re making a prediction, that fast food restaurants will close in SeaTac because of a rise in minimum wage. I’ll take the opposite side: fast food will remain in SeaTac. What would you like to wager? I’d be perfectly satisfied with a wager of, say, you writing out an honest explanation of why you were wrong.

To give you some hints that this would be a bad bet to take: The profits of airport fast-food franchises are gigantic, because they have a highly captive market and jack the prices to fuck. A large part of their costs is the rent that they pay to the airport, and the airport can lower that rent to keep them profitable, and they would, rather than see the stores go out of business. However, they won’t have to, because, as I said, airport fast food franchises make a bundle.

So, would you like to take the bet? I’m happy to wager money, too.

Oh, and something that may help you realize your reaction is pure ideology with no actual economic backing: When you hear a CEO had his salary raised by ten million, you don’t instantly assume the company is going to be in trouble. Ask yourself why.