NOT THE ONION::

Hanover Co-op leaders celebrated the ethical achievements of their business model during an annual meeting Saturday, and also fielded questions about the finances of the entity, which posted its first loss in several years in 2016. [...]

The organization remains financially healthy, said Paul Guidone, director of finance, but the loss puts pressure on its ability to make progress on other goals, such as a push to increase the minimum wage of the Co-op workforce from what Roisin describes as about $13.

The event also marked the beginning of a 30-day voting period for the store's 25,000 members on amendments to the bylaws and new members for the organization's board.

Board member Elizabeth Blum, one of five candidates running for five open seats on the board, said upping the minimum wage is important to her.

"I also have been committed to a livable wage for a number of years and I would like to get the Co-op to a minimum wage of $15," she said.

In response to a question from the audience, Guidone said the change would bump the organization's overall labor costs by 15 to 20 percent, a difference of between $2 million and $2.5 million. "To be able to pay for that all at once, we'd need another seven million in sales," he said. "To do it all at once is almost impossible. But we have a desire to do it, a strong desire."

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