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Welcome back while many businesses shied away from expansion during the recession one business owner decided it was a perfect time to grow -- opening.
Ten restaurants since 2008 Abbott now.
He says there's a war out there for businesses are against businesses saying tackle is the chairman of apple metro.
Owns 33 Applebee's restaurants in the New -- -- I think it's the biggest.
-- owner of apple but not in an Italian journalists here -- -- -- first of horses freed by the way David under construction as we stand here now are a lot of whether those things there are finished depends on who's elected president right I mean you're you're you're putting a lot of on this elect you voted for President Obama by the -- in 2000 -- idea why you're you're not gonna -- -- a second time.
I can answer that that's an easy answer is it the I think he's declared a war talk about war on businesses class actions.
-- -- instead of incentivizing people to work and build.
And businesses he's incentivizing people to not work and get paid not to work why would you why would you go to work when you can make as much or more by not working he.
He's created a division within the classes are creating and it did nothing positive the environment like the stock market you have an environment that's -- that goes up so much is based on psychology.
The environment in the business world is not positive it in the -- that comes -- -- Washington is all negative and I I can't say we make decisions based upon tax codes.
In our business we're in the business of opportunity I say we have three under construction because this environment.
Creates opportunities if you have some cash and landlords are willing to take a lesser ranked if you will.
-- -- and is available because people are working there are.
-- -- the non working a bunch of really do wanna work can I can't find jobs I can't see everybody doesn't work doesn't want to work.
And those opportunities present themselves we move forward.
The president's probably gonna say tonight that he's cut taxes for small businesses when he said and I say absolutely not he had.
You know he -- saying -- -- wants to say it's all very.
It's patron written.
Patronizing the electorate him.
Unfortunately this election on both sides very honestly.
They've all credibility gaps and knives I would hope that both of -- both these candidates get on television and just be people and tell the truth and tell what the facts are.
But they're certainly not making the environment.
A positive environment for expansion or that we all know there's tons of money sitting on the sidelines we all know the people aren't jumping in.
We're expanding we've got a cap ex budget right now of about twenty million dollars lumber company our size that's a ton of money yeah.
But again we're business of opportunity and -- cost of this down environment we've had some opportunities themselves -- -- away.
And back to three restaurants -- building right now.
Are by far the most expensive restaurants we've ever built they'll -- green restaurants thought about.
You talk about incentivizing -- dis incentivizing to get approved by the federal government for green restaurant -- a whole year.
I can only imagine and he's talking about he's opening these three restaurants but that's at least 300 jobs right oh yeah real terms up well the one -- the one we're opening.
Next will be up in Harlem -- -- 110 country here.
That'll be about 200 right now the single piece of legislation evolves more taxation and more regulations and any others of course is a barometer of the new healthcare -- How are you planning your playing three new restaurants -- are you planning your payrolls.
Because a lot of your payroll is gonna depend on whether or not we have the full -- its AJ volume -- great question.
And we spent about three hours on his last night so it's very opportune we don't know.
The answer is we don't know I can't believe he read 2700 pages.
I'm given to understand.
That no interest single individual -- 2700.
-- -- pages.
So it's coming together we're trying to plan for Applebee's International -- people on the ground full timing Washington.
And they can't give us the direction so how do you plan for that's the most difficult part for -- business I believe is in moving forward 'cause no one else.
No one knows what this is that we can't put.
-- and value -- -- value want and say when we forget we're working now on projections for next year for thirteen and that's a big empty blank.
So sick of that word uncertainty same -- -- thank -- am sorry episode with the uncertainties Tennessee and thanks for coming again -- thank you so.
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