Former McDonald's CEO: Minimum Wage Increase Means More Robots
Tom Rant | May 25, 2016
"It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who's inefficient making $15 an hour bagging French fries," Ed Rensi said during an interview with Fox on Tuesday.
The economics make sense if you believe Rensi's numbers. His robot would recoup its purchase cost after working for 2,333 hours, or a little more than six months, assuming it's operating for 12 hours a day. You do have to add in maintenance and repair costs, but you don't have to give the robot sick or vacation time.
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| Source: http://www.fool.com/investing/general/2014/02/08/will-a-minimum-wage-increase-cause-robotic-sales-a.aspx |
<more at http://www.pcmag.com/news/344756/former-mcdonalds-ceo-minimum-wage-increase-means-more-robo; related articles and links: https://www.washingtonpost.com/business/capitalbusiness/minimum-wage-offensive-could-speed-arrival-of-robot-powered-restaurants/2015/08/16/35f284ea-3f6f-11e5-8d45-d815146f81fa_story.html (Minimum-wage offensive could speed arrival of robot-powered restaurants. August 16, 2015) and http://townhall.com/tipsheet/mattvespa/2016/04/07/cavuto-warns-minimum-wage-activist-that-her-job-could-be-replaced-by-robots-n2144014 (Fox News' Cavuto Warns Minimum Wage Activist That Her Job Could Be Replaced By Robots. April 7, 2016)>
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