Another Minimum Wage Lesson in Economics: This Time at The Gap

0

A little over a year ago The Gap flaunted their progressive ways and raised their minimum wage to $10 per hour. Their employees – 65,000 of them who were effected – were ecstatic. The White House was giggly.

That was in February 2014. It’s now June 2015 and the happy campers are finding out that economics is a nasty handmaiden.

Here’s a glimpse at what was …

Image

Image

That was then. This is two days ago.

Image

Image

Gap will close 140 stores this year and cut 250 jobs at it’s headquarters. For some irony, Gap’s headquarters is in San Francisco, right in the middle of Nancy Pelosi’s Congressional District.

About Author

Michael Becker is a long time activist and a businessman. He's been involved in the pro-life movement since 1976 and has been counseling addicts and ministering to prison inmates since 1980. Becker is a Curmudgeon. He has decades of experience as an operations executive in turnaround situations and in mortgage banking. He blogs regularly at The Right Curmudgeon, The Minority Report, Wizbang, Unified Patriots and Joe for America. He lives in Phoenix and is almost always armed.

Send this to friend