Home Channel News, April 7, 2014
The continuing debate over the minimum wage law is one that disproportionately affects retailers. That doesn't mean all retailers see it the same way.
Leading the charge against federal raises is the National Retail Federation. The advocacy group has published statement after statement urging Congress to stand down to the push for higher wages. ...
Gina Schaefer, the owner of nine Ace Hardware stores in the D.C. metro area took a stand at Capitol Hill in favor of raising the federal minimum wage. Schaefer spoke at an April 3 event with Harry Reid, Nancy Pelosi and several other members of Congress.
Schaefer was one of hundreds of business owners and organizations that have signed the Business For a Fair Minimum Wage Statement, which advocates for a minimum wage increase to $10.10 over three years and then adjusting it annually according to the rising cost of living. Adjusting for inflation, today's $7.25 minimum wage is a third less than it was in 1968, they argue.
“There’s a lot of business support for raising the minimum wage,” Schaefer said. “Paying fair wages helped our business grow fast from our first store in 2003 to nine stores and nearly 200 employees now. When employees earn a decent starting wage, they can concentrate on their job and our customers without continual stress over how they are going to afford basics like rent, groceries or transportation. Fair wages help us attract and retain good employees, increase sales, expand our business and hire more employees. Our employees shop at other businesses, and the employees of other businesses shop at our stores. It’s a win-win for workers and businesses,” she said.
Paul Saginaw, owner of Zingerman's Deli and another member of Business for a Fair Minimum Wage, added, “We know from experience a minimum wage increase makes great sense for business. Since opening Zingerman’s Deli almost 32 years ago, we’ve grown to eight businesses employing 625 permanent staff with revenues just under $50 million dollars. Paying entry wages our employees can live on has been important for our profitability and our annual compounded growth rate of 10%. Raising the minimum wage would boost our communities and our economy.”
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