The Obamacare business-killing doomsday may not be as terrible as it was originally projected to be according to the Wall Street Journal.
I was extraordinarily amused while reading this.
Wendy’s Co. initially estimated the health-care law would increase the cost of operating each of its 5,800 U.S. restaurants by $25,000 a year. But Chief Financial Officer Steve Hare told an investment conference on March 14 that executives have cut the estimate by 80%, to $5,000 a year, primarily because they expect many employees to decline the insurance offering.
“It is still going to be an additional cost that both the company and our franchisees will have to absorb, but we think it is going to be manageable,” Mr. Hare said.
I suppose they were 20 percent right, which sounds slightly better when you say it than 80 percent wrong.
Either way, we can all delight in the endless font of schadenfreude over the next year as all the doomsday predictions concerning Obamacare fail to materialize.