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Obamacare Will Cost Papa John's Pizza Far Less Than Free Pizza Giveaways
Papa John’s CEO John Schnatter has claimed that Obamacare will cost his business about $5 to $8 million per year.
Schnatter has said he will probably raise pizza prices and cut back some workers’ hours to avoid giving them health insurance coverage.
In response, writer Caleb Melby, of Forbes magazine, analyzed Obamacare’s cost and determined that Papa John’s would have to raise prices by 3.4 to 4.6 cents per pizza.
In contrast, Melby wrote that giving away 2 million pizzas for free would cost between $24 and $32 million to Papa John’s, far more than Obamacare.
As far Schnatter's personal finances, Obamacare is unlikely to put him in the poor house. Schnatter owns a 40,000 square-foot home in Louisville, Kentucky, which includes several swimming pools, a private golf course and a 22-car garage, reports CelebrityNetworth.com.
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Comments
His company has to report his
His company has to report his net profits to share holders every year. It's a public document.
http://ir.papajohns.com/releasedetail.cfm?releaseid=650372
*He* has said what the insurance will cost him.
*I* could do the math and math is not my strong point.
Just because someone said
Just because someone said they "ran the numbers" doesn't mean they did it right.
I really can't understand why
I really can't understand why this guy is being so vocal about this issue. Since Papa Johns is a publicly traded company, he can't be too surprised that someone in the media ran the numbers.