Fatburger gets faked out by Obamacare
The burger chain and other employers were already cutting staff hours in response to mandated health care before it was delayed.
For some companies, President Barack Obama's decision to delay employer-mandated health insurance came too late to make much of a difference.
Burger chain Fatburger and other employers had already started cutting employee hours below 30 a week, the point above which the law requires companies to provide coverage to workers, CNNMoney reported.
"All it's doing is causing confusion (and) anxiety, and the workers are paying the price," Fatburger chief executive Andy Wiederhorn told the site.
Wiederhorn added that he had forfeited $30,000 because he had agreed to reduce the royalty fee Fatburger charges franchises, given their expected higher costs from providing health insurance to employees.
"I'm definitely getting the short end of the stick," Weiderhorn said. "We gave them the concession to save the jobs. And now the law's been delayed. We feel like we have whiplash here."
The delay, announced last week, isn't likely to result in a hiring boost, because smaller businesses are still trying to figure out how the law will work, Reuters reported. Larger employers were already on track to meet the law's mandates and aren't likely to change gears. Companies that have already cut hours or had planned to include Regal Entertainment Group (RGC) and Denny's (DENN).
So who might benefit from the delay? Look to the law's critics, many of whom are already planning to use the extra time to build opposition. Conservative advocacy group Americans for Prosperity is planning TV commercials attacking Obamacare's health insurance overhaul. The group, which is partly funded by wealthy brothers Charles and David Koch, will spend more than $1 million on the TV campaign, The New York Times reported.
Republicans have started a probe into the delay, with Rep. Fred Upton, R.-Mich., saying the postponement won't bring the relief many business owners want and that the law "will never be ready for prime time."
Most Americans won't be affected by the delay, given that only 3% of businesses come under the mandate, CNNMoney said. But for those that are, the delay only adds to the confusion. As Fatburger's Weiderhorn said, "It's very, very challenging."
Follow Aimee Picchi on Twitter at @aimeepicchi.
Having the Federal Gov't control or run an entity only makes it more inefficient. The Feds should stay out of business. Let the professionals work it. To keep giving stuff to those that don't work or taking care of those that don't work only exacerbates the situation.
Cut welfare, cut food stamps and cut unemployment and you will find more people working and eventually feeling better about themselves.
The Federal Gov't is all about controlling people. Let's take that control away from them.
Imagine that. You create a law that is thousands of pages long, few if anyone read cover to cover, written by a bunch of politicians with ZERO experience in the healthcare industry and while the goal was to "help" the little guy, you end up screwing him AGAIN. Hmmmm 40 hours without health insurance or less than 30 hours without health insurance. I wonder which would I would prefer. Thanks for nothing!!!
When will people learn, the government does more help by getting out of the way than by "helping."
I wonder how many of those that had their hours cut voted for Obama.
If they did, good for them. They had it coming.
Whenever the government decides it should control our lives for our own good things always get worse.
Just goes to show you that this goofball "we" collectively put back in charge of our highest office can rally people into pounding their fists and demanding freebies, but when it comes to actually getting things done and done efficiently and well, he doesn't have a clue nor a prayer. He's a clown that plays off of people's emotions. Wait until illegal immigrants who will not require health care coverage, can be hired legally.
Wake up you schmucks! Democrats just want to control you. There is no such thing as a right to a high paying job. Not unless of course you want to give up your freedom. You choose......freedom or pampers. Now Cowboy up you mams! If we hadn't given this clown and the federal government so much power to begin with (and this goes back well before Obama), the jobs and our economy would've been back a few years ago. We'd be booming right now! Get it through your thick skulls! Jobs come when businessmen have incentive to create them. Obama has done everything to disincentivize the creation of jobs all in the name of "fairness". How long would you watch a sports match in which after one team scores it cannot score again until the other team scores first so that the game is "fair". Vibrant growth and success does not work in that environment. That is why this recovery is sooooooooooooooo slow and will continue to be. This is just one of many cases in point. Jobs are being cut back in order to feed the PIG that is this new government regulation of Obamacare! You tell me what in the hell a person who used to work 39 hours a week at $10/hr is supposed to do now with healthcare reform. Regardless of whether or not they now get "free" (Ha, because you see now how they are paying for it) healthcare, you just cut their checks by 26% from 39 hours down to 29. So instead of a gross check of $390, they just lost $100 gross per week down to $290. Way to go you incessant "freebie" simpletons! Pick up your "free" cell phone(s) at the next corner van.
So what is the message? .....we are not screwing you this year, but we will screw you next year? Thanks alot!
I thought I was getting free health care. I thought we were finally getting even with the Man. I thought it would reduce the budget deficit. I thought Obama was the smartest man in the world. I thought we lived in a country with a constitution and a bill of rights. I thought I had a full time job. I thought I was a Democrat.
"If you like the healthcare that you have now you will not have to change your health care insurance" - Barry Obama.
"You git free health insurance for you, yo' kids, and yo' baby-daddy too." - Barry Obama
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market ended the midweek session on a mixed note. Blue chip listings bolstered the Dow Jones Industrial Average (+0.4%) and S&P 500 (+0.3%), while the Russell 2000 (-0.4%) and Nasdaq Composite (-0.02%) underperformed.
Equity indices began the day in the red, but wasted no time regaining their flat lines. Small-cap stocks were not as fortunate as the Russell 2000 spent the day in the red.
Upon returning into positive territory, the key indices were ... More
More Market News
Do it once a year. This allows the best-performing asset classes to take off and run.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'