Christian science monitor: http://www.csmonitor.com/Business/2015/0519/Los-Angeles-City-Council-votes-for-15-minimum-wage-video
The key here is the elephant in the room. That elephant is just going to grow after they raise minimum wage. LA is about to get schooled in the laws of unintended consequences.
A vicious cycle of of localized inflation is about to rain down on them. I did a little quick math and came to the conclusion that in my business I would need to raise my hourly rate from $50.00 to $65.00 for two guys.
That is just the beginning. Once my supply house does the same thing to me and drives parts prices up I have to compensate again.
Any one care for an $8.00 Macdonalds cheeseburger?