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Walmart banned alcohol from Jet's offices and discouraged its employees from swearing shortly after acquiring the e-commerce startup last September, The Wall Street Journal reports. The retailer sent an outside company into Jet's offices in Hoboken, New Jersey, to remove its liquor stash, according to The Journal's Sarah Nassauer and Brian Baskin.
The solution appeared simple: require employers to pay people more. In 2014 The City of Seattle passed a ordinance to increase the minimum wage from from $9.47 to $15 over two to four years (depending on company size and if they pay benefits). Economists Alan Krueger and David Card studied a small wage increase, from $4.25 to $5.05, and estimated it didn’t appear to have a large impact in employment in fast-food restaurants.
"An investment in our company from one of history’s most admired investors represents a vote of confidence in our experienced leadership team and an affirmation of our profit-center real estate investment and management approach," said Christopher Holk, Store Capital's CEO.