President-elect Barack Obama has pledged to quickly raise the federal minimum wage and to expand labor unions’ reach by eliminating secret ballot union elections.
These initiatives could combine to have a devastating impact on Louisville-based Yum! Brands, a 50,000 employee company that owns Pizza Hut, Taco Bell, and Kentucky Fried Chicken. Consumers will probably have little patience for paying union wages for their junk food.
Assuming this happens, how long would it be before the fast food industry makes tracks to Washington D.C. to ask for a bailout of their own?