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Will Obama Re-Election Result In Job Cuts?

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    Apple-Metro CEO Zane Tankel on what the president’s re-election means for businesses.

  • Duration 4:44
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-- -- -- Take a look at this number -- please.

2000.

Dollars -- is the following an employee is with more than fifty workers will have to pay every -- employee.

If they don't provide health insurance all because all the Obama look at.

Now before the election -- next guest said he might have to move some of its employees from full time to part time if pres Obama got reelected.

-- to get a live joining us now is -- tackle apple metro check CEO he runs I think was 42.

Applebee's franchises -- forty saarc.

All right before the election you said.

Might have to do this might have to make going full time people part time people are right about the election the president want what -- gonna do.

We're gonna evaluate -- we're gonna continue to look at it we're gonna see look.

Business is relatively simple more money has to come -- then goes out whatever business here and we're in a fragile business time fragile environment.

Just adding to overhead doesn't -- the GDP doesn't put cash in the system doesn't do anything.

So so -- each apple is how many employees as you -- roughly eight it -- from -- a minimum of 82 its many here in Manhattan this three.

Hundred well so let's take a big one in Manhattan 300 employees.

You are supposed to give them health care insurance.

If you don't that you face 600000.

Dollars a year in -- correct now that does that.

Take away all your profitability -- big chunk of it to what does it nutria.

Terry cuts I mean it look there's three ways it has to come back it's real simple -- more efficiencies.

Reduce overhead or raise prices.

Let's look at each in this environment you can't raise prices particularly in our space not possible.

Efficiencies hopefully we've got all -- efficient efficiencies we've just -- three terrible years in the environment and the economy.

We've been in -- and putting more more in every year.

So then -- cut back on overhead.

Available with so you couldn't supposing you did provide health insurance it has to be insurance approved all by the federal government -- -- -- that is correct.

Roughly how much for -- for -- -- restaurant with 300 people roughly how much.

They've beaten and we've calculated it will be some millions of dollars across our system.

Some million so what does that say.

That says we won't build more restaurants we won't hire more people -- exactly the opposite effect and what the president you to feel under pressure to move to more part time workforce as other restaurants -- -- because of obamacare.

The models been set.

I I I don't want it -- I'm sure all our people are watching this right now so I don't wanna make any commitments one way or another I wanna simply say we're looking -- -- We're evaluating it if it's possible to do without cutting people back.

I'm delighted to do it.

But that also rolls back expansion in rolls back hiring more people.

And in a best case scenario we only shrink the labor force minimally.

Anyway yes -- just anyway you slice it if you offer insurance.

If you don't offer insurance and pay -- -- you -- has gone off the -- backup you just took something from the bottom line which we use for ideally expansion and hiring.

Extending remodeling restaurants we're building a green restaurant right now it's gonna open in three weeks on -- 117 street in Harlem.

Which will be a model for the industry.

Gather rain water compost -- -- It'll cost us an excess of four million dollars last long we've built for the next four years.

Is this the most challenging time you've ever seen it is it is and we 'cause of the regulations all the regulations DO well bit and what concerns me -- frankly David is -- I was watching the news last night and I heard the president of the united steelworkers.

Union it sounded like he just invaded been Ghazi and one.

-- week that with the ground game that wine and we showed that money can't do weigh -- with truly a declaration of war.

I had -- have a lot of hope for the president as you do -- -- little more than swimmer because he's all of our presence today.

But what's his obligation to his constituency.

Who did back ground game declared that war.

And one.

And these guys think -- be -- further telephony was -- first term.

I think he's got to sit down and he's got to get in a closet the dark closet he's got to use the White House.

To make friends forget about dinner with family and and and his wife and and all the the kids and fight the various parties over to the white -- use that asset as previous presidents have done have them for dinner.

Instead of quitting in going to dinner with at least -- -- the United States saying tackle you always tell how you see it and we appreciate that.

Thank you very much of England is very welcome elegance and America thank you so much -- so.

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