This is gonna be so great for our country!! They will have healthcare, but won't have a job.
Applebees
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. 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. I want to simply say we are looking at it, we are evaluating. If it’s possible to do without cutting people back, I am delighted to do it, but that also rolls back expansion, it rolls back hiring more people, and in a best-case scenario, we only shrink the labor force minimally. Best case.
Any employer who has 50 or more employees must provide federal government-approved health care for its employees under President Obama's Obamacare or pay a $2,000 fine. Currently, Applebees employs 80 to 300 persons per restaurant.
Despite Tankel’s openness and honesty regarding the future of his company in an Obamacare world, he is being criticized for speaking the truth regarding the financial impact of President Barack Obama’s reelection and even threatened with a boycott via social media for speaking out.
Dennys
Obviously, I’d love to cover all our employees under that insurance. But to pay $5,000 per employee would cost us $175,000 per restaurant and unfortunately, most of our restaurants don’t make $175,000 a year. I can’t afford it.
Applebees
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. 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. I want to simply say we are looking at it, we are evaluating. If it’s possible to do without cutting people back, I am delighted to do it, but that also rolls back expansion, it rolls back hiring more people, and in a best-case scenario, we only shrink the labor force minimally. Best case.
Any employer who has 50 or more employees must provide federal government-approved health care for its employees under President Obama's Obamacare or pay a $2,000 fine. Currently, Applebees employs 80 to 300 persons per restaurant.
Despite Tankel’s openness and honesty regarding the future of his company in an Obamacare world, he is being criticized for speaking the truth regarding the financial impact of President Barack Obama’s reelection and even threatened with a boycott via social media for speaking out.
Dennys
Obviously, I’d love to cover all our employees under that insurance. But to pay $5,000 per employee would cost us $175,000 per restaurant and unfortunately, most of our restaurants don’t make $175,000 a year. I can’t afford it.
