In this brief excerpt from a recent edition of The Macro Show, Hedgeye Restaurants Sector Head Howard Penney discusses the unintended consequences of raising the minimum wage for fast food workers to $15 an hour. According to Penney, the industry can’t afford it, people will get fired and stores will close.
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BONUS! Is 'Mobile Order & Pay' the Holy Grail for Starbucks?
If you missed it...Check out Penney's review of the new Starbucks Mobile Order & Pay app and how it plays into his long-term view on the company.
