Elections Have Consequences, Businesses Laying off Employees Due to Obamacare and Regulations … NY Applebee’s CEO Zane Tankel says He May have to Lay Off Employees because of Obamacare. (Update: Papa John to do the Same)
Exactly what did people think was going to happen when Obama was reelected and Obamacare penalties would be implemented rather than repealed? Maybe Americans would have voted differently had these policies been enacted prior to the election, but of course that was done ny design.
Elections have consequences and for those who voted for Barack Obama’s reelection might just get laid off or fired. In their infinite wisdom, or lack there of, America voted back in the most liberal/socialist President in the history of the United States. What does that mean … businesses will have to deal with the adverse effects of Obamacare on their business. The economics of Obamacare and its cost to the economy.
NY Applebee’s CEO Zane Tankel stated on the FOX business channel that he may have to let employees go or reduce their hours from full time to part time to deal with the expenses of Obamacare. Tankel went on to say that this was the most difficult business climate he has ever seen. He has not made a final decision, but what one one think some one is going to do when expenses increase and revenues do not?
Zane Tankel said that a hiring and expansion freeze might have to be implemented, much to the dismay of the LEFT. Money does not grow on trees and when the government decides to force their socialist policies on a business based in capitalism, there are consequences. What’s the answer of the ignorant and selfish LEFT, boycott those that dare take action to deal with the added expsnse of Obamacare. A note to the LEFT, guess what happens when revenues are reduced in a business, they lay even more employees off. But the ignorant LEFT does not care, they think the evil businesses make too much money. Funny how they want to tell others how to handle their money, but when it comes to their own like paying for woman’s own birth control, it’s hands off.
An Applebee’s New York area franchisee is the latest CEO to go public threatening drastic plans to avoid costs associated with the Affordable Care Act, otherwise known as Obamacare.
“We’ve calculated it will [cost] some millions of dollars across our system. So what does that say — that says we won’t build more restaurants. We won’t hire more people,” Zane Tankel, chairman and CEO of Apple-Metro, told Fox Business Network on Thursday.
Apple-Metro, which runs 40 Applebee’s restaurants, employs from 80 to 300 people at each of its locations. Obamacare mandates that businesses with more than 50 workers must offer an approved insurance plan or pay a penalty of $2,000 for each full-time worker over 30 workers.
Most small businesses with 50 or more employees already do offer health insurance, notes John Arensmeyer, CEO and founder of Small Business Majority, a national small business advocacy organization. But restaurant chains typically are among the sliver of businesses not offering insurance to workers. Other food chains have commented publicly that they would take strong measures.
UPDATE I: John Schnatter, Papa John’s CEO, Says he will likely have to raise costs and cut employee hours because of Obamacare.
A day after Barack Obama earned a second term in the White House, Papa John’s founder and CEO John Schnatter said the president’s signature health-care reform law would increase his business costs and possibly result in employees’ hours being cut.
Schnatter, a part-time Naples resident, made the comments Wednesday night inside a small auditorium at Edison State College’s Collier County campus. In August, he made national headlines after telling shareholders the Affordable Care Act — commonly known as Obamacare — would result in a 10- to 14-cent increase for customers buying a pizza.
“I got in a bunch of trouble for this,” he told the students. “That’s what you do, is you pass on costs. Unfortunately, I don’t think people know what they’re going to pay for this.”