Okay so 40 hours/week for one year = 40x52=2080 hours/year $15-$7.25= $7.75 (gosh wages more than doubled) $7.75x 2080= $16,120 add another $1209 (employer's share of social security equals $17,329 you still have to add in unemployment and workman's comp coverage. If he needs an additional $80,000 in revenue I'm guessing his mark up has got to be close to 20%, not bad but I have to ask what's his current gross? If he's only doing $100,000 a year another $80,000 will be tough, if he's doing $500,000 it might be doable, at $1,000,000 he's got it made.
Issue is the person, as a business owner didn't know what his labor cost really was, and let emotion guide some decisions, are we supposed to feel bad for him because he's incompetent? When we continue to elect people like that to government we're only getting what we deserve.
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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