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Blackhearts main premise was that this guy was cheating people and blaming it on Obamacare. Which is based on absolutely nothing. WRONG AGAIN. It's based upon a surcharge of 5% to cover obamacare. Then it goes on to say he's reducing employee hours so he WON'T BE SUBJECT TO OBAMACARE rules. Why charge a surcharge for obamacare if you're avoiding it altogether? I'm a successful business owner and I understand both sides. BUT I HATE LYING CHEATING SOBS!!!!! You apparently don't run a business with 50 fulltime employees because you don't understand it all. He's reducing the NUMBER of employees he'll be subject to fines for, not eliminating the COST of Obamacare for the remaining full time employees he has. Right now, he doesn't pay for all of his full times employees. Under Obamacare he'll have to (as will every other employer with 50 FT employees). For crying out loud....
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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From the article linked: http://washingtonexaminer.com/franc...lve-profits/article/2507920#.UKWU8IZ1u8B .......
That $315,000 increase is equal to just over half his annual profit, after expenses, or 1.5 percent of sales.
...... So from the research those folks did, if they added a 1.5% surcharge they could stay in the clear and turn the same profit they did previously (if I understand correctly). The restaurateur originally mentioned in this post stated his surcharge was going to be 5%...and he was going to cut hours for folks....and let folks go. It's his business, he can run it like he wants, but it does appear (if the numbers for profit/sales/employees/etc are close) that he's using the Obamacare as an excuse to turn a profit for himself, not on the product, but on the "idea" of Obamacare costs. I'm all for turning a profit and I'll all against the hungry-hungry-hippObomacare....but I think he may be trying to pad his pockets in an underhanded manner.
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I find it incredible a franchisee of any size at all wouldn't have done that simple math but just read this thread, talk about head in the sand. And those attacking the franchisee in the OP won't read the very brief article (or understand it apparently). What is funny though is what the guy is illustrating is EXACTLY what all the opponents said from day one but the left just kept talking about how 'magic' it was going to be. And people think they are stupid. They are not stupid. They are evil.  I don't see anything in that article that changes my mind. The business owner they interviewed said it would cost an amount equal to ONE AND A HALF percent of his total sales to cover all of his employee's with insurance. That's a far cry from the FIVE PERCENT of total sales the Denny's CEO plans to charge his customers to cover his expenses. FURTHERMORE, the CEO interviewed in Nathan L's link says he can pay the fines for not insuring his employee's for just a little more than his current cost of only insuring a small portion of his full time employee's. AcesnEights was certainly right about wasting my time on simpletons. When was Denny's CEO ever mentioned, anywhere? What in the world are you talking about? The article Nathan posted had a quote by a TacoBell/KFC franchisee. Did it ever occur to you his margins might not equal a Denny franchisee in another state? Unreal. The point was to help you understand how Obamacare costs work which apparently you don't. You keep mentioning reducing the full time employees will somehow magically reduce the number of hours he'll still have to pay which makes absolutely no sense at all. It still takes x hours to run the business. He'll use more part time people where he won't have to pay benefits vs fewer full time employees. PLEASE tell me I'm not attempting to discuss business economics with a union member... I won't call you a simpleton. Your are just uninformed (or at this stage of the thread, willfully ignorant). Keep hating "the man" based on your 'feelings'. It's as good as anything I guess. Obamacare will hardly have any additional costs to anyone. It's 'magic'. Uhh, the Denny's CEO was interviewed in the OP. I suggest you go back and read that as well as the article linked by Nathan L. I can't believe your job is corporate finance. My god it's no wonder this country is in trouble. Lord have mercy, "Unreal" is right. Uhh..... the CEO said NOTHING about raising his prices 5%?!? It's a franchisee in Florida. Or do you hate the CEO now too? It's getting hard to keep up with all the people you are mad at.
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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From the article linked: http://washingtonexaminer.com/franc...lve-profits/article/2507920#.UKWU8IZ1u8B .......
That $315,000 increase is equal to just over half his annual profit, after expenses, or 1.5 percent of sales.
...... So from the research those folks did, if they added a 1.5% surcharge they could stay in the clear and turn the same profit they did previously (if I understand correctly). The restaurateur originally mentioned in this post stated his surcharge was going to be 5%...and he was going to cut hours for folks....and let folks go. It's his business, he can run it like he wants, but it does appear (if the numbers for profit/sales/employees/etc are close) that he's using the Obamacare as an excuse to turn a profit for himself, not on the product, but on the "idea" of Obamacare costs. I'm all for turning a profit and I'll all against the hungry-hungry-hippObomacare....but I think he may be trying to pad his pockets in an underhanded manner. Yes, I guess if you want to assume a Denny's franchisee who said he's going to attempt to cover his increased cost with a 5% increase in prices is lyiing AND he just happens to make the same income after taxes percentage as a TacoBell/KFC franchisee in a different state, then yes.
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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Do you ever get tired of being wrong?
I understand just fine that he'll pay a penalty for not providing HC for the fulltime employees he has, I also understand he won't be paying for ANY of their HC. I also understand that his surcharge far exceeds the penalty in %'s.
Your batting average makes Alex Rodriquez look like a high 3 digit hitter.
Keep swinging...btw I HATE lying, cheating SOBs......
�Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politician.� �General George S. Patton, Jr.
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~Molɔ̀ːn Labé Skýla~
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From the article linked: http://washingtonexaminer.com/franc...lve-profits/article/2507920#.UKWU8IZ1u8B .......
That $315,000 increase is equal to just over half his annual profit, after expenses, or 1.5 percent of sales.
...... So from the research those folks did, if they added a 1.5% surcharge they could stay in the clear and turn the same profit they did previously (if I understand correctly). The restaurateur originally mentioned in this post stated his surcharge was going to be 5%...and he was going to cut hours for folks....and let folks go. It's his business, he can run it like he wants, but it does appear (if the numbers for profit/sales/employees/etc are close) that he's using the Obamacare as an excuse to turn a profit for himself, not on the product, but on the "idea" of Obamacare costs. I'm all for turning a profit and I'll all against the hungry-hungry-hippObomacare....but I think he may be trying to pad his pockets in an underhanded manner. Yes, I guess if you want to assume a Denny's franchisee who said he's going to attempt to cover his increased cost with a 5% increase in prices is lyiing AND he just happens to make the same income after taxes percentage as a TacoBell/KFC franchisee in a different state, then yes. I don't know. I tried to cover it with: "(if the numbers for profit/sales/employees/etc are close)" It's all a guesstimate based on the numbers presented.
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Do you ever get tired of being wrong?
I understand just fine that he'll pay a penalty for not providing HC for the fulltime employees he has, I also understand he won't be paying for ANY of their HC. I also understand that his surcharge far exceeds the penalty in %'s.
Your batting average makes Alex Rodriquez look like a high 3 digit hitter.
Keep swinging...btw I HATE lying, cheating SOBs...... No, again you clearly don't understand. He will have to pay for HC for ALL of his remainging full time employees where right now he pays for a small percentage. He has to provide 100% coverage for ALL full time employees. He's trying to reduce that overall number he'll be subject to in the future. At the end of day he'll still have MORE employees he'll be paying HC coverage for. And he won't in any mix of FT or PT employees pay for less overall salary dollars. Get it?!?! No apparently not. You and blackheart just need to drive on down to Florida and NOT eat at his resturants. That'll show him. Stick it to the man! Power to the people!
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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From the article linked: http://washingtonexaminer.com/franc...lve-profits/article/2507920#.UKWU8IZ1u8B .......
That $315,000 increase is equal to just over half his annual profit, after expenses, or 1.5 percent of sales.
...... So from the research those folks did, if they added a 1.5% surcharge they could stay in the clear and turn the same profit they did previously (if I understand correctly). The restaurateur originally mentioned in this post stated his surcharge was going to be 5%...and he was going to cut hours for folks....and let folks go. It's his business, he can run it like he wants, but it does appear (if the numbers for profit/sales/employees/etc are close) that he's using the Obamacare as an excuse to turn a profit for himself, not on the product, but on the "idea" of Obamacare costs. I'm all for turning a profit and I'll all against the hungry-hungry-hippObomacare....but I think he may be trying to pad his pockets in an underhanded manner. Yes, I guess if you want to assume a Denny's franchisee who said he's going to attempt to cover his increased cost with a 5% increase in prices is lyiing AND he just happens to make the same income after taxes percentage as a TacoBell/KFC franchisee in a different state, then yes. I don't know. I tried to cover it with: "(if the numbers for profit/sales/employees/etc are close)" It's all a guesstimate based on the numbers presented. Agreed, and if you assume he's lyiing. The number of employees per sales dollar swings the equation equally.
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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Have a good night Geaux. I'm done and need to read with my children before bed.
Hope you have a great day tomorrow. (I also hope you're not as wrong when you wake up) lol.
Kidding.
�Politicians are the lowest form of life on earth. Liberal Democrats are the lowest form of politician.� �General George S. Patton, Jr.
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~Molɔ̀ːn Labé Skýla~
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[quote=GeauxLSU ...... Agreed, and if you assume he's lyiing. The number of employees per sales dollar swings the equation equally. [/quote] As I said, "I think he may be trying to pad his pockets in an underhanded manner".  Hopefully I am wrong.
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Your figures are still wrong and mine are still right but I too am tired of wasting my time with this teaching a pig to sing scenario. Have a good night and kiss your boss/clients tomorrow for keeping you employed.
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Seems to me if his intent was to be a profiteer off of Obamacare, most likely he wouldn't advertise his intentions...but maybe that's just me.
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Seems to me if his intent was to be a profiteer off of Obamacare, most likely he wouldn't advertise his intentions...but maybe that's just me. I think you're just missing the point Barkoff. The man signs the paychecks on the front, therefore he is a lyiing evil piece of dung. It's all very simple.
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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Your figures are still wrong and mine are still right but I too am tired of wasting my time with this teaching a pig to sing scenario. Have a good night and kiss your boss/clients tomorrow for keeping you employed. Awww... name calling? People are going to start to think you've painted yourself in a corner. Tell you what, let's try a word problem so you can teach the rest of the class. Note: This is magic Obamaland where increase in prices have no adverse affect on sales and you don't pay any taxes on your extra profit and the cost of insurance doesn't go up (in other words, feel free to ignore current reality in your answers.) Problem 1: The lyiing evil business owner claims his cost will go up $3,150,000 ($70k x 45 stores). To break even he'd have to have $63,000,000 in revenue ($3.15m/.05). Since we all know he's a lyiing sack of dung and you have double top secret access to his books how much revenue does he REALLY have? Show your work. Problem 2: The evil business owner currently pays $1,500,000 (250 x 6,000) in HC cost for 250 of his employees that he obviously hates. Under Obamacare he'll have to provide HC for all 1,200 of the thankless FT employees or an increase in costs of $5,700,000! What should he do? We'll make it multiple to choice so the rest of the class can follow. A) Eat the $5.7m B) Change the status on 950 of his FT employees to PT so he doesn't have any change in cost. C) Raise his prices to try and generate another $5.7m. (which again will have no impact on sales in magic Obamaland) D) A combo, change the status on many (but not all) of his FT employees and implement a small price increase to help cover his increased costs. E) Math doesn't matter he's a lyiing sack of dung and I just 'know' he's trying to make more money. Please show your work. Aces, feel free to jump in there as a successful business owner and help your buddy out with his answers since you both have come to same conclusion.
NRA Lifer
"It is curious that physical courage should be so common in the world and moral courage so rare." - Mark Twain
"Everybody has principles... until they are an inconvenience." - Me
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