Beware the aftereffects of minimum wage hikes

Minimum wage is payment to non-skilled workers and/or for income supplement. It is unrealistic to equate it to a cost of living wage.

Minimum wage increase forces struggling business owners to raise the wages for all their more skilled higher paid workers. The outcome is layoffs, business closures, higher unemployment, higher price for consumer goods, and higher tax liability to tax payers.

Minimum wage jobs should be characterized as a motivator to stimulate a desire for higher education and/or blue-collar job training leading to jobs providing a good cost of living wage.

Business-friendly bills passing through our state legislature are always voted favorably by Republicans, but historically, and overwhelmingly, voted against by the controlling Democrats who are the cause for our undesirable business environment. Lost to us is big business from considering a move to Rhode Island providing business growth with high paying

Read More

Henry Ford Health System announced Friday it will raise the minimum wage for most of its lowest-paid workers to $15 an hour. 

a car parked on the side of a road: Henry Ford West Bloomfield Hospital valet employee Kenneth Douglas, 31, of West Bloomfield, runs back to the main entrance after parking a car on Oct. 8, 2020. Douglas said a pay increase may relieve him of having to hold two jobs to make ends meet.

© Mandi Wright, Detroit Free Press
Henry Ford West Bloomfield Hospital valet employee Kenneth Douglas, 31, of West Bloomfield, runs back to the main entrance after parking a car on Oct. 8, 2020. Douglas said a pay increase may relieve him of having to hold two jobs to make ends meet.

The increase takes effect Sunday, and will boost the pay of more than 3,000 employees in at least 100 different types of benefits-eligible jobs, including food service workers, environmental services staff andnurse assistants, among others.


Load Error

Michigan’s minimum wage is $9.65 an hour.

Start the day smarter. Get all the news you need in your inbox each morning.

The pay increase is expected to cost the health system about $6 million annually, and is part of

Read More

Finance Minister Nirmala Sitharaman on Tuesday sought to allay the fears over MSP (minimum support price) regime and asserted that the three Bills on agriculture reforms would be immensely beneficial to farmers, apart from cutting wastage.

The three Bills on agricultural reforms, passed recently by both the houses of Parliament, were much-awaited ones and will go a long way in helping the farmers get a better price for their produce. It will also help prevent the huge food wastages faced by the country now, she said here while addressing the media.

To a question on whether the new reforms would lead to the abolition of the MSP, she said: “I find that absolutely unreasonable to keep speculating on it and say that this is the concern of the farmer.”

Assurance on MSP

“MSP is there, it was there and it shall continue to be there. Under certain other governments the

Read More

  • The canton of Geneva, Switzerland, voted to introduce a minimum wage of 23 Swiss francs ($25) an hour.
  • This means full-time workers will earn at least 45,264 Swiss francs a year, or $49,386.
  • That’s more than three times the US federal minimum wage of $7.25, though states and cities have implemented higher minimums.
  • Visit Business Insider’s homepage for more stories.

Voters in the Swiss canton of Geneva have voted to introduce a minimum wage of 23 Swiss francs ($25) an hour — making it the highest in the world.

Just over 58% of voters in the canton — an administrative region that includes the city of Geneva — voted for that minimum wage, according to government data published September 28.

They were asked to answer yes or no to the question: “Do you accept the popular initiative ’23 francs is a minimum’?”

Paying workers the new wage, based on Switzerland’s

Read More

BEIJING, Oct. 5, 2020 /PRNewswire/ — Gridsum Holding Inc. (“Gridsum” or the “Company”) (NASDAQ:GSUM), a leading provider of cloud-based big-data analytics and artificial intelligence (“AI”) solutions in China, today announced that on October 1, 2020, it received a letter (the “Nasdaq Letter”) from the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”), indicating that for the ten consecutive business days from September 15, 2020 through September 30, 2020, the closing bid price for the Company’s American depositary shares (the “ADSs”), each representing one Class B ordinary share of the Company, has been at $1.00 per ADS or greater as required for continued listing on The Nasdaq Global Select Market.

As previously reported, on April 17, 2020, the Company received a deficiency notice from Nasdaq’s Listing Qualifications Department, indicating that the Company had not been in compliance with the minimum bid price requirement of $1.00

Read More

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.

  • Capital One (Member FDIC) has CD terms from 6 months to 5 years, and it pays competitive rates.
  • You can find higher rates at some other online banks, but it depends which term length you select.
  • Capital One is one of the only banks that doesn’t have a minimum deposit to open a CD.
  • The bank has high-yield term CDs, but no unique options such as no-penalty CDs.
  • See Business Insider’s picks for the best CD rates »

Capital One pays high rates on CDs. You may be able to find a better APY at other online banks, but it depends on which term length you choose.

Capital One CD

Read More

The consultation paper of SEBI on achieving minimum public shareholding of 25 per cent in companies relisting after insolvency process raises the issue of finding investors and the risks they will be exposed to, say experts.

SEBI has proposed three options including 10 per cent public shareholding at the time of relisting post-CIRP; two, achieve the 10 per cent limit within six months against the 18 months currently allowed, and, three, have 5 per cent minimum public float post relisting and raise it to 10 per cent in 12 months and further to 25 per cent in next 24 months.

Darshan Upadhyay, Managing Partner, Stratage Law Partners, said the main concern of new promoters of companies coming out of insolvency is the practical challenges in implementing any of the three SEBI options within the given timeline. It has always been difficult to find enough market interest for divestment to increase

Read More