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Apple-Metro Chairman of the Board Zane Tankel on the impact of taxes, regulations and a potential increase of the minimum on businesses.
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Weekly jobless claims unexpectedly spiking to a two month high this following a lackluster march employment report and -- -- chairman of the board of apple metro says.
So likely -- beginning of another dip in the job market -- joins me now well first of all let's go from micro to macro.
Even though you have a big operation.
Last time we spoke.
US -- projects that you -- putting on hold the correct so you were sure what was every day with the kind of what's having those project well we are starting next week construction on one of on the night because that leases signed you know -- committed to do it and so we're going forward we saw how many people are you gonna be hiring as a result of this we think Europe we have -- leases -- we figure approximately 200 people per unit so close to a thousand people were -- that's -- -- so free -- And the unemployment figures are going down and you're you're hiring more people why -- you.
More pessimistic about the whole economy because.
I think what I've always said is still and still continues and that is this house battle environment out of Washington.
Makes people -- -- is as well very reluctant to make long term commitments.
Financially and and you know it's pandering again to the voters -- get it.
Get it got elections coming up so wage we're gonna have raised the minimum wage and you know it's real simple economics 101 you raise my overhead I have to reduce something else and -- SP specific although there's no certainty that the minimum wage they will be -- -- if if that happens.
Will that mean that you'll hire fewer than that thousand you're planning to not Mayan -- but.
Did it traditionally.
-- raising minimum wages doesn't get the economy -- getting people to work think experts the economy people don't come -- my restaurants.
Because they get a dollar more in our people come in in my restaurants.
When they're working.
And when they have a weekly incompetent and and I don't think -- many different I suspect it's the same thing in the retailers and I suspect it's the same thing.
And capital expenditures it's -- -- so the focus is on the unemployment.
Giving them rationale to stay unemployed and not at the how are just not not rationalizations but but economically.
Movement begun making himself now summer's coming and summertime you not only have the college graduates which have a lot of college students that that have to work in the summertime to pay their bills right.
That means.
A spike in unemployment is well doesn't it certainly does and that -- where they get it sort and I I have no idea where they're gonna get -- sort.
And I think again you know -- there needs to -- change in the environment people say the market is driven certain by psychology.
It's and it's -- consumer market entry even if the psychology is positive that the market goes up.
There's no difference between in that business -- the psychology in business is positive and we feel that there is a there is that up a good attitude -- -- watching towards.
Washington towards our businesses people feel good now despite all this negative policy stuff you're talking about you or experience you are hiring 2000 -- if if in fact there was there was some kind of change in in the mindset of the folks in Washington make them more business friendly would you be hiring -- -- amount.
I'd be putting these these projects on a much faster track number one which then would permit need to do deals for.
Future projects while -- just lay in limbo if you will are not doing other deals unless it's really exceptional deal.
But it certainly would fast track what we're doing in which certainly get us to build restaurants like quick so what will be the number one thing that would make you more optimistic that would get you to hire more people long term.
I I I think -- change from the administration.
I don't know what -- terms of policy yeah I mean it would be would it be a different tax code would it be certainly regulatory -- certainly certainly tax reform is required overall overall.
But I think it would be something that incentivizes businesses to hire people.
Because again if people get hired an out forget my business -- other businesses that come into my business so if we incentivize people to move forward it could be a tax break.
It could be -- tax incentive of some sort but there's nothing on the table there's nothing -- even discussed about how do we incentivize people -- -- we talk about.
The unemployment assistance had a we help the unemployed and I don't want to sound tough funny unemployed I feel bad for them and I don't think they don't wanna work I think by you know -- in the majority do wanna work.
You have to get people like myself.
The hire him to come to work.
And then it becomes a self for -- profit while a great thing about this economy is that even when they heard their policies against business -- people like you that they'll do the right thing an article hires a great to see you so much thank you so much appreciate it is -- analyst.
