Papa John’s Faces Reduced Employee Hours Due To ObamaCare

Papa John's Faces Reduced Employee Hours Due To ObamacareThe 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.

‘Rising costs’

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.


‘No expansion or additional hiring’

The comments were not Schnatter’s first statements on ObamaCare. He made headlines in August for telling shareholders the law may lead to increases in the price of his pizza.

In 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 employees as a result of ObamaCare.

Are you in favor of ObamaCare? Which do you think is greater — the positive or the negative effects of ObamaCare? Feel free to share your thoughts on this new healthcare policy!

Source: Fox News

Image: Policy Mic

Mark Zuckerberg Sued Over ‘Overvalued’ Facebook Stock

A new lawsuit claims Mark Zuckerberg pulled a billion dollar fast one on Facebook investors.

The class action lawsuit — filed by disgruntled Facebook shareholders — claims the 28-year-old CEO had inside info that the stock was grossly overvalued, and he protected his own financial hide by quickly unloading a ton of Facebook stock.


This is the second time in two weeks a group of FB shareholders have joined together to accuse the mogul of withholding information. The lawsuit claims Zuckerberg and his cronies hid the fact that there was a foundational flaw in the Facebook business model — that there was not nearly enough advertising revenue to support a stock valued at $38 a share.

The lawsuit claims Morgan Stanley, JPMorgan, and Goldman Sachs — all sounded the alarm before the IPO that Facebook was seriously overvalued, but that information was “selectively disclosed” to the largest investors. Then again, hasn’t Mark suffered enough.  He’s only worth around $15 billion, isn’t he?

Do you think the Facebook stock could still recover from this mess? Feel free to share your thoughts and ideas in the comment box below!

Source: TMZ

Image: Code Name Tech