Here's why big business is giving up its fight against a higher minimum wage
Last month, McDonalds — the most recognizable name in America's lowest-paying industry — announced it would no longer lobby against minimum wage hikes. A few months before that, Amazon proclaimed that it would fully meet activists' demands for a $15-per-hour baseline and that it would throw its considerable lobbying weight behind an increase in the federal floor. Then, just last week, Bank of America outdid them both, setting its own minimum at $20.
For large companies, opposing a hike comes along with bad publicity, which lately just doesn't seem to be worth it for corporate America — especially for those with a consumer-facing brand reputation to maintain. "A number of our members that have substantial retail operations are very concerned about image," said Roger King, senior labor and employment counsel with the HR Policy Association, a trade group of large employers.
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