Actually, they are not doing the CEO a favor because now his clients are leaving him because lack of experienced workers. So now, he's renting out his house to try to pay the bills.
It is a simple economic fact, raising the minimum wage too high hurts the people it is purported to help. Example is a hamburger flipper. You were making 10 bucks an hour and the burgers cost 5 bucks. You now are getting 15 bucks and the burger now costs 8 bucks. Self defeating. Oh, and fast food restaurants are not a career. They are a way to earn a few extra bucks to get you on your way to better yourself, and earn a higher paying job.