Pretzel Logic: CEO Admits He Didn't Know What He Was Talking About When He Advocated a $15.00 Minimum Wage

By Robert Wenzel

Bill Phelps, co-founder and chief executive officer of the California-based Wetzel's Pretzels franchise, was a prominent advocate for the Golden State's $15 a hour minimum wage for several years, but has recently changed his opinion, reports the Washington Examiner. He now says that the rate — which has only just reached $11 — is already squeezing his businesses and hurting workers, and he worries things will likely get worse as minimum wage rises to the $15 level.

The CEO in 2...