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 - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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