‘No, I don’t understand’: Costco CEO stuns Lindsey Graham during disagreement over minimum wage increase

February 25, 2021 ☼ minimum-wage$15grahamcostco

Source: Raw Story

Link: ‘No, I don’t understand’: Costco CEO stuns Lindsey Graham during disagreement over minimum wage increase

The South Carolina Republican then directed a series of questions to Jelinek, who testified that Costco is paying its employees at least $15 per hour.

There is more here.

“So if you run a restaurant or hotel and nobody can travel in the country and seating capacity has been reduced by half or more, the revenues are down and can you understand why an increased mandate from the government in terms of cost would be a devastating blow?” Graham asked.

“No, I can’t understand why it would be a devastating blow,” Jelinek replied. “I think it’s a devastating blow to the employees.”

So, at least one CEO is following in Henry Ford’s footsteps regarding pay. There are more that find increased pay leads to lower training costs because employee retention becomes a non-issue.