Home > Man-Made Disasters > An Obama Nation: Another CEO Warns Obamacare Will Be ‘Very Costly’ For Businesses, ‘They’ll Be In For A Very Expensive Situation’

An Obama Nation: Another CEO Warns Obamacare Will Be ‘Very Costly’ For Businesses, ‘They’ll Be In For A Very Expensive Situation’


And more businesses, in an effort to remain competitive and profitable, will likely do what a large number of businesses are already doing right now instead of passing the cost on to the customer: reducing employee work hours to under 30-hours per week to avoid Obamacare altogether …

https://i1.wp.com/newsbusters.org/sites/default/files/imagecache/main_375/main_photos/2012/December/2012-12-03-CBS-CTM-Rose.jpgBy Matthew Balan, NewsBusters – “On Monday’s CBS This Morning, Cheesecake Factory CEO David Overton spotlighted the looming economic impact of Obamacare’s implementation, especially on small enterprises: ‘For those businesses that don’t cover their employees, they’ll be in for a very expensive situation.’ Overton also warned that the cost of the law would be passed on to customers.

Anchor Norah O’Donnell raised the issue of the still-controversial health care law: ‘One of the things that’s going to change, of course, in the new year is ObamaCare, or the Affordable Care Act. How do you implement that at Cheesecake Factory, and how will you pay for health care for all of your employees?’ (audio clips available here …)

The restaurant chain executive pointed out that, unlike many businesses, The Cheesecake Factory is ‘already…paying a great deal in health care. So, we’re not sure how much more it will be – or how much less – or what exactly we’ll do. So, for us, it won’t be as bad as it will be for others, which it will be very costly.’

O’Donnell followed up by asking about the possibility increased prices for customers: ‘When you say it will be very costly, it will be passed on to who – the customers?‘ Overton confirmed that this would be the case: ‘Well, I believe most people will have to do that or cheapen their product.’

It’s surprising that the liberal morning newscast would bring on a critic of ObamaCare. The decision could be explained by anchor Charlie Rose mentioning ex-Al Gore adviser Dr. Atul Gawande’s compliment of The Cheesecake Factory in a recent article in The New Yorker.” Read more.

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