Attention, Attention, the MEDIA IS NOT LIBERAL and it’s also not conservative. It’s CORPORATE! (and we all know that a small minority of Americans own the lions share of corporations)
Papa Gino’s could be minimum wage test case. Could Papa Gino’s be the tip of the iceberg lettuce when it comes to the state’s new minimum-wage rules?
Well, not really.
For one, the new minimum wage rules won’t be fully implemented for a few years and even then, while anyone working at PG’s for $11-$14 will see a pay raise, anyone working for $15-20 (or more) will probably see a pay CUT thanks to our Democratic Legislators and Republican Governor.
But, to the casual reader who just glances at the headline, well, golly, will my steak bomb or iced coffee drive up be a thing of the past because we’ll have to pay people $15 an hour? No.
So why is Papa Gino’s going under?
Gee, could it possibly be that the company’s private-equity owner, Bunker Hill Capital, had taken on tens of millions of dollars in debt. Wynnchurch Capital acquired most of that debt, and is the leading contender to take over ownership of Papa Gino’s, post-bankruptcy.
Well golly, that seems to be more likely to me. What about you?
So why is the headline all about the dangers of working class citizens trying to survive in our current winner take all economy and not the fact that vampire capitalism is the more likely problem? Maybe the owner of the Boston Globe can tell us?