Some interesting comments from Fred DeLuca co-founder of Subway in an interview with CNBC. Talking about issues such as healthy food and the minimum wage, you get a chance to understand that a company’s CEO doesn’t know everything there is to know about his industry or even his own company. It also reminds how tough the job is, every expert, every critic is ready to attack as if the person in charge is ruthless, self-serving and or incompetent when actually many if not most are trying to do the right thing even when mistakes are made.
On the subject of the minimum wage, Mr. DeLuca recommended indexing the minimum wage to inflation so people would know what to expect. One thing he admitted to expect from that would be the higher cost of eating at Subway if that was government policy.
A comment from one poster. BambooBob was interesting, “Don’t index the minimum wage to inflation. Index it to the growth of CEO compensation…”, a good jumping off point for more discussion on the pay gap and relative value of upper management.