California’s recent minimum wage hike to $20 per hour has stirred conversations across the state. However, one group notably absent from this increase are restaurant workers. Traditionally, they’ve been excluded from such wage hikes due to the assumption that tips supplement their income. Yet, recent trends suggest that relying solely on tips may no longer…
Investors who jumped at the chance to buy shares in Warren Buffett’s Berkshire Hathaway at a seemingly unbelievable discount yesterday are in for disappointment. A technical issue on the stock exchange has led to the cancellation of these trades. On June 3, a data glitch caused the stock price of the global conglomerate to plummet…
In recent months, a growing narrative has emerged blaming Governor Gavin Newsom’s minimum wage hike to $20 an hour for the struggles faced by California’s fast food industry. Critics argue that this wage increase is driving restaurants out of business, yet a closer examination reveals that this simplistic explanation overlooks broader, more complex factors affecting…
In a significant development for the California restaurant industry, Rubio’s Coastal Grill has announced the closure of 48 of its locations across the state. The decision comes in the wake of the state’s new $20-an-hour minimum wage for fast food workers, which took effect on April 1. The Mexican chain cited the rising cost of…
Unrealized losses in the US banking system are surging again, as reported by the Federal Deposit Insurance Corporation (FDIC). The latest figures show banks are now burdened with over half a trillion dollars in paper losses, primarily due to exposure to the residential real estate market. The 2008 Crisis needed an 800B tax payer bailout…
As temperatures soar to alarming heights across California, Arizona, and Texas, the resilience of their power grids is put to the ultimate test. This week, these states are bracing for a trial of endurance as the demand for electricity escalates to combat the scorching heat. With forecasts predicting dangerously high temperatures, authorities are on high…
Insurers are retreating from California’s homeowners’ market, prompting Governor Gavin Newsom to push for faster reviews of rate hike requests to prevent further exits. Newsom emphasized the urgency of stabilizing the market, noting insurers’ actions like non-renewals and policy cessations, which force homeowners to resort to the state’s FAIR Plan, already burdened with over $300…
In a recent landmark ruling, the Supreme Court delivered a decisive blow to President Biden’s ambitious plan to alleviate the burden of student loan debt. By a margin of 6-3, the justices determined that the Biden administration had exceeded its authority in its proposal to cancel up to $400 billion in student loans. This decision,…
1950s: Top Tax Rate: 91%The Rise of the Single Working Parent Combined Estimated Work Hours: Approximately 40-45 hours per weekDuring the 1950s, the typical American family often had only one working parent while the other stayed at home to manage household duties and childcare. With the cost of living relatively lower than in later decades,…
Fast-food franchisees across the state are expressing concerns about potential customer migration to fast-casual dining options such as Chili’s and Applebee’s. This apprehension arises as California’s newly implemented minimum-wage law compels basic burger joints to raise menu prices to counteract escalating labor expenses. The revised wage regulations, effective since April 1, solely target workers at…
