CEO Of Biggest Fast Food Chain Explains Why He Supports Minimum Wage Hike
Click here for reuse options!“I’m not concerned,” CEO Fred DeLuca said on Wednesday when CNBC asked him about minimum wage hikes. “Over the years, I’ve seen so many of these wage increases. I think it’s normal. It won’t have a negative impact hopefully, and that’s what I tell my workers.”
DeLuca’s support is noteworthy in part because of the size of his business. Subway has the most locations of any fast food chain. While a majority of small business owners support a $10.10 wage hike, major corporations of that scale typically oppose raising wages…
DeLuca launched Subway nearly 39 years ago. The minimum wage then was $1.25 an hour, which would be $9.38 per hour in today’s dollars. Even after a three-step wage hike from 2008 to 2010 — the first time the minimum wage had been raised in over a decade — the minimum wage is worth 20 percent less than it was in the late 1960s. “I personally think that if I were in charge of the government, I would index the minimum wage to inflation so that way everybody knows what they can count on,” DeLuca told CNBC.
Copyright 2014 Liberaland
22 responses to CEO Of Biggest Fast Food Chain Explains Why He Supports Minimum Wage Hike
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Roctuna May 8th, 2014 at 14:16
How soon before he is summoned in front of Neil Cavuto and Lou Dobbs and ordered to explain his heresy?
Alan May 8th, 2014 at 17:40
not sure about that, but it does make me hungry for a Subway sandwich
Roctuna May 8th, 2014 at 19:18
Turkey-ham w/pepperjack, lettuce, tomato, red onion, peppers and a squirt of chipotle sauce on Italian herb bread.
Alan May 8th, 2014 at 22:40
sold!
Roctuna May 8th, 2014 at 14:16
How soon before he is summoned in front of Neil Cavuto and Lou Dobbs and ordered to explain his heresy?
Alan May 8th, 2014 at 17:40
not sure about that, but it does make me hungry for a Subway sandwich
Roctuna May 8th, 2014 at 19:18
Turkey-ham w/pepperjack, lettuce, tomato, red onion, peppers and a squirt of chipotle sauce on Italian herb bread.
Alan May 8th, 2014 at 22:40
sold!
fancypants May 8th, 2014 at 22:29
Good to hear even if your sandwich tastes like an old shoe
fancypants May 8th, 2014 at 22:29
Good to hear even if your sandwich tastes like an old shoe
MrWilkinson May 9th, 2014 at 09:34
Who’s next? 4″ or 8″?
MrWilkinson May 9th, 2014 at 09:34
Who’s next? 4″ or 8″?
Nobama May 12th, 2014 at 14:11
Hey Colmes the minimum wage in 1972 was $1.60 an hour so how could it be $1.25 an hour in 1975? I started working in 1972 so as your buddy Sharpton says “Gotcha”
arc99 May 12th, 2014 at 14:28
Subway was founded in 1965. Probably a typo in the story where 39 should have been 49.
Try doing a bit of fact-checking next time. The bottom line is that when Subway was founded, minimum wage was $1.25.
As your buddies on the political right should say, but never do, “oops wrong on the facts as usual”
http://www.subway.com/subwayroot/about_us/history.aspx
mea_mark May 12th, 2014 at 14:42
Aww man, why did you do that? You went and popped his bubble. He was feeling so proud of himself. He thought he really had him and it was just a typo. You know it is mean to pick on people right? Oh wait, he’s a troll, my bad.
Nobama May 12th, 2014 at 16:11
Probably a typo? You libs will twist anything to make yourself look good. News flash; Subways are franchises and pay 8% off the gross so the owner really could care less about an increase in the wages. He gets his right off the top. Whenever I need a laugh I always come to Liberaland!
Oblowz May 12th, 2014 at 14:11
Hey Colmes the minimum wage in 1972 was $1.60 an hour so how could it be $1.25 an hour in 1975? I started working in 1972 so as your buddy Sharpton says “Gotcha”
arc99 May 12th, 2014 at 14:28
Subway was founded in 1965. Probably a typo in the story where 39 should have been 49.
Try doing a bit of fact-checking next time. The bottom line is that when Subway was founded, minimum wage was $1.25.
As your buddies on the political right should say, but never do, “oops wrong on the facts as usual”
http://www.subway.com/subwayroot/about_us/history.aspx
mea_mark May 12th, 2014 at 14:42
Aww man, why did you do that? You went and popped his bubble. He was feeling so proud of himself. He thought he really had him and it was just a typo. You know it is mean to pick on people right? Oh wait, he’s a troll, my bad.
Oblowz May 12th, 2014 at 16:11
Probably a typo? You libs will twist anything to make yourself look good. News flash; Subways are franchises and pay 8% off the gross so the owner really could care less about an increase in the wages. He gets his right off the top. Whenever I need a laugh I always come to Liberaland!
Epiphany Dh May 12th, 2014 at 16:29
I know going to Subway is one of the best ways to put on a couple of pounds but every once in a while…… I go for it. I like Subway sandwiches….. that’ll be turkey, ham and cheddar, lettuce & tomato, onions, mayo, salt & pepper, and a squirt of red vinegar, thank you. Those sandwiches are tasty and they just got tastier. Hear, Hear Mr. DeLuca! I salute you and will ‘spread’ the word. : )
Epiphany Dh May 12th, 2014 at 16:29
I know going to Subway is one of the best ways to put on a couple of pounds but every once in a while…… I go for it. I like Subway sandwiches….. that’ll be turkey, ham and cheddar, lettuce & tomato, onions, mayo, salt & pepper, and a squirt of red vinegar, thank you. Those sandwiches are tasty and they just got tastier. Hear, Hear Mr. DeLuca! I salute you and will ‘spread’ the word. : )