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ORIGINAL: Aylee

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ORIGINAL: fucktoyprincess

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ORIGINAL: Aylee

So how did you feel about the bailout of GM? What about the money given to Solyandra an Light Squared?

I don't feel taxpayers should have to bail out private companies. We need to restructure the economy. That includes the auto industry. There are no sacred cows. True free market people should understand that businesses fail routinely, and that entire industries disappear over time to be replaced by other things. We need to stop bailing out business and let the economy go through the sometimes painful process of restructuring.

There are no guarantees in business. Period. Here are some examples of shrinking or dying industries: Photo finishing (because photography has gone digital), appliance repair (because it is often cheaper to replace appliances than repair them), DVD rentals, hardware manufacturing and shoes and women's apparel (cheaper imports). There are fewer people employed in these industries today in the U.S. than at other times in the past. So what? Are we going to force people to go back to 35mm cameras just to prop up the photo finishing industry?

Business are born, grow and die. That is the business cycle.

The same right wingers who won't support education or health care are happy to stand in line for their bailout at taxpayer expense when they need it. How very interesting.

Good on you!

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ORIGINAL: Yachtie

It's AMAZING how you leftists find it so easy to tell others how they should run their businesses. No one should be surprised though, as you also so easily tell others how their money should be spent and even help them do it

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ORIGINAL: BoundSlave4Life

http://www.huffingtonpost.com/2012/11/09/papa-johns-obamacare-john-schnatter_n_2104202.html


In the wake of President Obama's reelection, one CEO is doubling down on his criticisms of Obamacare.

Papa John’s CEO John Schnatter said he plans on passing the costs of health care reform to his business onto his workers. Schnatter said he will likely reduce workers’ hours, as a result of President Obama's reelection, the Naples News reports. Schnatter made headlines over the summer when he told shareholders that the cost of a Papa John’s pizza will increase by between 11 and 14 cents due to Obamacare.

"I got in a bunch of trouble for this," he said, referring to the comments he made in August, according to Naples News. "That's what you do, is you pass on costs. Unfortunately, I don't think people know what they're going to pay for this."

Schnatter went on to say he's neither in support of, nor against the Affordable Care Act, even admitting that "the good news is 100 percent of the population is going to have health insurance.” But he’s not the only one in the chain restaurant industry to admit that workers hours may be reduced, since Obamacare mandates that only employees that work more than 30 hours per week are covered under their employers health insurance plan. For example, Darden restaurants, the parent company of Olive Garden and Red Lobster, has already experimented with reducing workers hours in anticipation of the legislation.

Others have responded to the added costs of Obamacare more harshly, including Applebee's franchisee owner Zane Tankel who said his company won’t hire new workers because of the law. Just this week, a Georgia business owner also claimed he cut employees due to Obamacare and in fact had specifically laid off those who he thought had voted for President Obama.

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ORIGINAL: BoundSlave4Life

This is the CEO of a huge company like that throwing a tantrum because he doesn't want to pay the same rates as the rest of society.

Firing people for voting for Obama? Not only morally wrong, but I'm fairly certain it's illegal.

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ORIGINAL: Edwynn

The financial industry is directly responsible for turning what would otherwise have been a normal downturn, a normal recession, into something much larger. The extent of damage to so many industries and municipalities, so many jobs lost, so many houses lost, such phenomenal destruction of national wealth, is directly on them.

Some extent of bailout to that industry was unfortunately unavoidable because liquidity was zero, no one had any clue the value of the assets on their books (and therefore capital requirements were impossible to calculate), this just following trillions of these toxic assets coming from off-balance sheet structured investment vehicles (SIVs) back onto the balance sheet. And it was LOTS more complicated than that; everybody making margin calls on each other at once, CDOs starting out as three tranches eventually mutating into as many as 128 tranches, CDOs, CDSs, etc. leveraged 40/1, 50/1, and even higher. At 40/1, a loss of 2.5% of the market value of the asset completely wipes out the equity.

The financial bailouts should have been limited strictly to the commercial banks. Because of the Financial Industry Modernization Act (Gramm-Leach-Bliley), this was not possible, as the investment banks, commercial banks, hedge funds, etc. were so intertwined that it was (still is) impossible to let the other entities twist in the wind without their demise likely causing the demise of the commercial banks. The vast majority of businesses, large and small, rely on revolving credit or short term loan turnover to function. That's not irresponsible, that's good cash management.


Is it fair that so many businesses outside the financial industry, large and small, should suffer the consequences of the unconscionable actions of that sector, to be driven to bankruptcy not because of their own actions, good or bad business decisions, but rather the recklessness of the bankers and recklessness of the lawmakers who allowed it to happen? The laxity of enforcement, the actual encouragement under several administrations and from the Fed?

To not bail out GM would only have been a further and, in light of the situation, reprehensible irresponsibility of a government who had been so irresponsibly caving in to the financial industry for so many years.


People need to think, and think hard, about what they are saying when they speak of "free markets," "onerous regulation," etc.

I'll take onerous regulation over onerous high unemployment rates and onerous high foreclosure rates and onerous business failure rates and onerous school closings any day.

PS

Regulations should indeed be structured so as to be significantly less onerous for the smallest businesses, and absolutely as onerous as possible for the likes of Goldman Sachs, who routinely hire the best and the brightest out of the universities and steal them away from other firms, and are well capable of stepping their away around almost any regulation.

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ORIGINAL: BoundSlave4Life

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ORIGINAL: Yachtie

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ORIGINAL: BoundSlave4Life

Here's my problem --- The CEOs and Presidents of these companies live in Muli-Million Dollar Houses. They are firing people because it'll take them another month to get that nice and shiny car, or that 5th house for that 2nd cousin.

To sit here and say "Well, they need to cut costs!!!" is bullshit!

Interesting. You say that as if you actually KNOW that.

http://thinkprogress.org/health/2012/11/09/1173181/applebees-ceo-obamacare/?mobile=nc

News freakin' Flash --- I grew up, and spent most on my life on Long Island with a stint in London. I spent my whole life around these people. Hell, I AM one of these people. Don't sit here and act like you know how this works. I've seen both sides of the coin. I've been with the filthy rich, and I've been with those less fortunate, so I know how both sides live.

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You may not have a clue, living in North Carolina, but I do. I've been in both positions, and I can tell you they don't "HAVE" to cut back anything.

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Firing people for voting for Obama? Not only morally wrong, but I'm fairly certain it's illegal.

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A Hiring Freeze? Both stupid and illogical.

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I am going to be counting the days until they'll have to back down from that simply because they aren't willing to give hours to employees, but they aren't willing to hire new people? I may use Vagina Logic but that seems pretty counter productive to me when people are quitting left and right because they are getting their hours cut!

This is the CEO of a huge company like that throwing a tantrum because he doesn't want to pay the same rates as the rest of society.

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ORIGINAL: DomYngBlk

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ORIGINAL: BoundSlave4Life

http://www.huffingtonpost.com/2012/11/09/papa-johns-obamacare-john-schnatter_n_2104202.html


In the wake of President Obama's reelection, one CEO is doubling down on his criticisms of Obamacare.

Papa John’s CEO John Schnatter said he plans on passing the costs of health care reform to his business onto his workers. Schnatter said he will likely reduce workers’ hours, as a result of President Obama's reelection, the Naples News reports. Schnatter made headlines over the summer when he told shareholders that the cost of a Papa John’s pizza will increase by between 11 and 14 cents due to Obamacare.

"I got in a bunch of trouble for this," he said, referring to the comments he made in August, according to Naples News. "That's what you do, is you pass on costs. Unfortunately, I don't think people know what they're going to pay for this."

Schnatter went on to say he's neither in support of, nor against the Affordable Care Act, even admitting that "the good news is 100 percent of the population is going to have health insurance.” But he’s not the only one in the chain restaurant industry to admit that workers hours may be reduced, since Obamacare mandates that only employees that work more than 30 hours per week are covered under their employers health insurance plan. For example, Darden restaurants, the parent company of Olive Garden and Red Lobster, has already experimented with reducing workers hours in anticipation of the legislation.

Others have responded to the added costs of Obamacare more harshly, including Applebee's franchisee owner Zane Tankel who said his company won’t hire new workers because of the law. Just this week, a Georgia business owner also claimed he cut employees due to Obamacare and in fact had specifically laid off those who he thought had voted for President Obama.

They are all franchise systems. Technically papa johsn et al dont have that many employees.

With how cheap pizza's are I hope he can pass along price increases. Though, I doubt it will work.

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ORIGINAL: tazzygirl

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Illegal and Immoral things? That's pretty funny considering how much of BDSM would be considered illegal and immoral by the majority of the country. But just for laughs please tell me what law requires a company to hire more people?

I didnt see her say it was illegal not to hire more people.

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Now the ones who got fired for voting for the wrong man should have a case, but they would have to prove that was why. I hope they do, but I won't hold my breath.

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ORIGINAL: Kana

On the flip side, this may have been the tweet of the year:

"A week before Colorado legalizes marijuana, Peyton Manning acquires 21 Papa John's franchises in the state. Guy can do no wrong."

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well the subject was a ceo who is saying he will cut hours and not hire new people. Her quote included "I can't help the fact that the right wing thinks they should be able to do ILLEGAL or IMMORAL things. " Now I suppose that her comment was totally offtopic and had nothing to do with the op, but that is not the way I read it.