Fox Business
Expand
Browse All Video
Watch Live

You're watching...

CKE Restaurants CEO: Regulation Hurting Jobs

Details

  • Description

    CKE Restaurants CEO Andy Puzder breaks down how health care is impacting business.

  • Duration 3:33
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Alright well our next guest is being critical of government regulations to say of the Leeson says they are costing this country jobs Andrew -- is CEO of CKE restaurants the parent.

Of Carl's junior and -- he's also by the way.

In economic advisor to Mitt Romney's campaign he joins me now -- thank you for doing that and be how much to vigorously.

Andy how much does this new health care low cost fuel company in particular what is the impact.

-- nobody really knows it's so complex you know that nobody read it before was passed and I think people are having a hard time reading it now in finding -- what the regulations are.

We use.

They the and the top health care advisor in the country Mercer & Associates.

To advise us on health pocket health care policy.

But health care issues are cost.

Initially they told us that it would increase our health care costs from twelve million dollars a year to about thirty -- votes but an 18% -- -- 150% increase in.

Obviously that's devastating we spent about nine to ten million dollars -- building new restaurants that's how we create jobs.

Now there are things you can do to get that number down you can offer your employees the absolute lowest.

Health care policy that the that the government allows you hate to do that because -- take healthcare -- and people.

And you can make people part time and and that again if they're under thirty hours than they are not covered and you don't have to provide health care but.

No -- -- everybody's looking at that a lot of people are moving towards that model which you hate to do that because part time employees are less productive than full time.

We've got in in California by 83%.

Of our employees are minorities about 63% -- women we've got a lot of single moms.

Who need these full time jobs you hate to make -- part time just to keep your expenses down but -- may not have a choice so it it's it's a very complicated issue but.

Prices are going up the cost of health care are increasing dramatically.

I was -- -- to read that say you're telling the story of a franchisee I believe in Iowa who had one restaurant wanted to build a -- But because that would put him over the fifty employee level -- these health care costs are really PKK and he's not going to do it my thing is that the most classic example of how this is -- expansion and job creation.

-- that that's that's a very very good example and I actually am here in New Orleans that are franchised conference I was just talking to they have franchisee yesterday.

And he hasn't changed his position we've had a number franchisees who have come to us and said look we're not sure about taxes we're not sure what's happening with energy cause we know that they've gone up.

We're not sure what's going to happen with of the labor unions and how that's -- that could impact our business.

And we're scared to death of obamacare so we're gonna hold back on investment we're going to hold back on building new restaurants.

And when people are holding back you -- you have that you know you have 8% plus unemployment for 443 consecutive months and 23 million people unemployed.

You you can't.

Businesses are not going to invest are not going to move forward with the kind of uncertainty and anti business policies that this administration is fostered.

Very quickly -- 32 literally Andrew what do you hope to see from Mitt Romney tonight in the debate.

-- draws a distinction between himself and President Obama I think it's a very clear distinction we have.

You know you never know what's going to happen in the next four years but we have one -- president.

Who who decided that government control and government dependency -- the answer to every problem we got somebody out there that supports free enterprise.

Freedom economic and individual freedom wants to release the American spirit that we can released the American spirit -- entrepreneurial energy we will get back on track and we will recover.

Right great place to leave it Andrew plaza CEO of CKE restaurants thank you so much for joining us my pleasure of.

Load More