[sirmarksalot]

It all depends on where their wage is on the cost/value curve. It's true that if the company is paying their employees close to their contributed value, increasing the minimum wage will put them out of a job, there often isn't a force that reliably pushes a wage near that point. Regardless of the value provided, if a company can get away with paying their employees less, then they will. The forces that determine wages have more to do with available supply of various skills than they do with the demand for the actual value provided.

not all companies of course, but as an aggregate, companies will follow this rule