AND PLEASE DON'T EAT AT APPLEBY'S, OLIVE GARDEN, AND RED LOBSTER....READ WHY BELOW!Zane Tankel, Applebee's Franchisee, Says He Won't Hire Because Of Obamacare (VIDEO)
An Applebee's New York area franchisee is the latest CEO to go public threatening drastic plans to avoid costs associated with the Affordable Care Act, otherwise known as Obamacare.
"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," Zane Tankel, chairman and CEO of Apple-Metro, told Fox Business Network on Thursday.
Apple-Metro, which runs 40 Applebee's restaurants, employs from 80 to 300 people at each of its locations. Obamacare mandates that businesses with more than 50 workers must offer an approved insurance plan or pay a penalty of $2,000 for each full-time worker over 30 workers.
Most small businesses with 50 or more employees already do offer health insurance, notes John Arensmeyer, CEO and founder of Small Business Majority, a national small business advocacy organization. But restaurant chains typically are among the sliver of businesses not offering insurance to workers. Other food chains have commented publicly that they would take strong measures to avoid the effects of Obamacare, but so far none of them have taken that action.