P@triot
Diamond Member
- Jul 5, 2011
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Businesses Cutting Hours, Refusing To Hire, Refusing To Build, Bracing for Costs of Obamacare
"We've calculated it will [cost] some millions of dollars across our system. So what does that saythat says we won't build more restaurants. We won't hire more people," Zane Tankel, chairman and CEO of Apple-Metro, which runs 40 Applebee's restaurants.
"There's no other way we can survive it, because we think it will cost us 50 cents a sandwich. That's just the actual cost. If you have 40 or 50 employees at a restaurant, and the penalty is $2,000, and you're going to pay $80,000 or $100,000 penalty, there goes the profit in your restaurant."Jimmy John Liautaud, founder of Jimmy John's subs, who said he was considering cutting workers hours to come in under the Obamacare mandate threshold.
Its a great concept. We want to have everyone insured. The problem is, who is going to pay for it and how are we going to accomplish this? John Metz, who operates roughly 40 Dennys locations and five Hurricane Grill & Wings franchises in Florida, Virginia, and Georgia, and has said he may have to add an Obamacare surcharge to his menus.
New unit construction will cease if we have to allocate moneys for that construction to the [Affordable Care Act]. And building new restaurants is how we create jobs. Andy Puzder, CEO of CKE Restaurants, which owns Hardees and Carls Jr.
Morning Bell: Business Owners on the Cost of Obamacare
"We've calculated it will [cost] some millions of dollars across our system. So what does that saythat says we won't build more restaurants. We won't hire more people," Zane Tankel, chairman and CEO of Apple-Metro, which runs 40 Applebee's restaurants.
"There's no other way we can survive it, because we think it will cost us 50 cents a sandwich. That's just the actual cost. If you have 40 or 50 employees at a restaurant, and the penalty is $2,000, and you're going to pay $80,000 or $100,000 penalty, there goes the profit in your restaurant."Jimmy John Liautaud, founder of Jimmy John's subs, who said he was considering cutting workers hours to come in under the Obamacare mandate threshold.
Its a great concept. We want to have everyone insured. The problem is, who is going to pay for it and how are we going to accomplish this? John Metz, who operates roughly 40 Dennys locations and five Hurricane Grill & Wings franchises in Florida, Virginia, and Georgia, and has said he may have to add an Obamacare surcharge to his menus.
New unit construction will cease if we have to allocate moneys for that construction to the [Affordable Care Act]. And building new restaurants is how we create jobs. Andy Puzder, CEO of CKE Restaurants, which owns Hardees and Carls Jr.
Morning Bell: Business Owners on the Cost of Obamacare