San Francisco Business Times: Jerome Dodson: Parnassus Investments president: Higher Minimum Wage Just Good Business

Op-Ed By Jerome Dodson
San Francisco Business Times, September 1, 2016

I’ve been investing in businesses for more than 30 years. At Parnassus Investments, we’ve found that firms with ethical business practices, coupled with good products or services, quality management and sustainable competitive advantages offer the most attractive opportunities for investment. Companies that do right by their employees and their communities are much less likely to be fined or sued, and they fare better in the long run.

That’s why I strongly believe gradually raising the minimum wage was a smart move for California and others like New York and Massachusetts, and I think more states should follow suit. I’ve seen firsthand that paying good wages is a good investment for business. ...

Jerome Dodson is the president of San Francisco-based Parnassus Investments.

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