November 12, 2012

Papa John's, Applebee's ready for ObamaCare

Via Fox News:

The CEO of popular pizza chain Papa John's says his employees may face reduced hours and he expects his business costs to rise because President Obama's re-election most likely insures the president's health care reform law will be implemented in full.

NaplesNews.com reports John Schnatter made the remarks to a small group at Edison State College's Collier County campus the day after the election.

Schnatter, who supported Mitt Romney in the election, said all Americans having health insurance under ObamaCare is a good, but estimates the change will cost Papa John's $5 million to $8 million annually.

Schnatter estimated that these rising costs could adversely affect his workers. Since only full-time employees working 30 hours or more must be covered under the new law, he said he expects franchise owners will be forced to cut employees' hours because they can't afford the costs of health insurance plans.

n addition, the Applebee’s family restaurant chain is under public attack, including the threat of boycotts after New York-area franchisee Zane Tankel told Fox Business Network that cost increases related to implementing ObamaCare might result in no expansion or additional hiring. Critics appear to have interpreted Tankel’s comments to mean he will layoff customers as a result of ObamaCare.

Need I add the 'ol adage "elections have consequences"?

Posted by Hube at November 12, 2012 09:20 AM | TrackBack

Comments  (We reserve the right to edit and/or delete any comments. If your comment is blocked or won't post, e-mail us and we'll post it for you.)

Yeah, but they'll have to cover the extra 10 hours by hiring more part-time laborers. Its the European model of unemployment reduction.

Posted by: Jeff the Baptist at November 13, 2012 02:13 PM