While the entire National Investors’ Conference is always full of interesting and enlightening speakers, sometimes the most interesting things you hear come out over dinner with your clients and their associates. We had two very interesting discussions that we’d like to share:
First, the statement that seemed to have the biggest impact on senior housing facility owners and managers came out of the luncheon featured discussion by columnists David Brooks and E.J. Dionne. During their discussion of the upcoming presidential election, one of the speakers (David Brooks, if we recall correctly) predicted that the minimum wage will be increased if Hillary Clinton wins and stay the same if Donald Trumps wins. Every owner and manager at our table was concerned with the impact of an increase in the minimum wage on their operating costs – particularly considering how staff-intensive senior housing is as an industry.
Second, there was an interesting discussion about California – and the perverse situation that arises from the difficulty in making a deal work in California due to its significant – some would say oppressive – regulatory structure. While California’s regulatory challenges are a dis-incentive to locate there on hand, they also make California an attractive place to open new facilities as the high barriers to entry keep out competition.
What did you overhear while at NIC?