Due to ObamaCare, Nation's Largest Movie Theater Chain Cuts Employee Hours

Originally posted by openminded2011
reply to post by DarthMuerte

 

I know more about it than you will ever know. Trust me. I have run 2 different successful businesses and
D guess what, I was able to pay my employees a decent wage and never regretted it. Two of them keep in touch and its been over 27 years. I guess I must have done something right. That why I know your assertion that it can't be done is nonsense.

I think your statement lacks a little something called "truth". PROVE IT!

Originally posted by rock427

Originally posted by JohnnyCanuck
reply to post by DarthMuerte

 

Nice to see how corporate greed always gets a free pass from some folks.

This isn't just corporations... Small private businesses will be doing the same. I know of several small business owners who will be employing part time workers as opposed to full time workers just so they don't have to pay into the system. And its entirely thanks to this bastardized law that was shoved down the American peoples throats!

This is what happens when bad legislation happens. The business community responds in ways that will protect their interests. Don't like it? Don't get a job. Welcome to the part-time economy.

edit on 16-4-2013 by rock427 because: (no reason given)

Agreed. Until recently, my partner and I ran a business doing web design and online presence ,management. After reading the affordable care act, we decided to change our employees to independent contractors. This would save their jobs. They would make more, the money we would have saved on social security and various insurance and other contributions was going to be split with the employee. 50% of what we would have had to contribute would have instead gone to the employee. However, our accountant told us that the IRS would not allow our employees to be shifted to 1099 contractors even though the employees were completely on board. As a direct result of that decision, my partner and I looked at the books and closed our doors. Over 50 people are now unemployed. Businesses that cannot make a profit go out of business.

Originally posted by buster2010

Originally posted by DarthMuerte

Originally posted by CALGARIAN
DO NOT BLAME Obama..

Blame the greedy upper management of the company.

If Obama raised the minimum wage to 20$, which is should be to cover cost of inflation and what not, and people started to lay people off.. would you blame him then?

Yes! Raising the minimum wage would increase the costs of all goods and services being purchased rendering the "raise" moot and leading to even more inflation.

The min wage has been basically the same since Reagan was in office but the cost of living kept going up. Now explain the higher inflation and costs. Because by what you said prices shouldn't have risen seeing how wages didn't go up.

It's called inflation. Simple supply and demand. As the fed prints more and more dollars, those dollars lose purchasing power. Additionally, the national debt also has a major deleterious effect on our economy. There is more to it than that, but the minimum wage has also more than doubled since Reagan was in office. My first "real job" was as an assistant maintenance man at a franchise McDonalds chain. I started at $3.15 an hour. I remember my joy when I got bumped up to $3.85 an hour later. What's minimum wage now? $8 a hour? More in many places.

Originally posted by beezzer
So profits have become greed..

Since the inception of Obamacare there has been a growing tide entitlement mentality.

What's yours is mine, apparently. Businesses start because someone wants to make money. Obama steps in and declares how much you can earn. The rest, by government mandate, goes to others who didn't earn it.

What in the hell has happened to our society when a success is demonized and mediocrity rewarded?

It's called punishing success. Greece has been doing it for decades.

It's a very clear recipe for failure.

Originally posted by DarthMuerte

Originally posted by grey580
reply to post by tothetenthpower

 

The hollywood model is a flawed one.

I remember how one Director was saying how his movie grossed 150million. Yet the studios said his movie made 0 profit.

Creative accounting strikes again.

Wow! Just Wow! Dude you really need to take an accounting class or something. First of all gross receivables and net income are totally different. Do you think that movie got made for free? The actors, writers, gaffers, etc... all had to get paid out of that money. Props, film, location, and government fees all had to come from that money. The health insurance costs for the employees had to come out of that money. It is very easy to see how a film grossing $150,000,000 could lose money. All businesses work this way. That 40 million dollar profit on 2 billion dollar gross is only a profit margin of 2%.

So you're telling me that a movie that cost $19 million to make
Grosses $150 million and can still isn't profitable?

Hol lywood Accounting: How A $19 Million Movie Makes $150 Million... And Still Isn't Profitable

We've written about the wonders of Hollywood accounting before. It's a series of tricks pulled by Hollywood studios to make most of their movies look unprofitable, even when they're making a ton of money. The details can be complex, but a simplified version is that every studio sets up a new "shell" company for each movie -- and that company is specifically designed to lose money. The studio gives that company the production budget (the number you usually see) and then also agrees to pay for marketing and related expenses above and beyond that. Both of those numbers represent (mostly) actual cash outlays from the studio and are reasonable to count as expenses. Then comes the sneaky part: on top of all that, the studios charge the "movie company" a series of fees for other questionable things. Many of these fees involve no real direct expense for the studio, but basically pile a huge expense onto the income statement and ensure that the studio keeps getting all of the movie income -- rather than having to share the profits with key participants -- long after the movie would be considered profitable under regular accounting rules.

Please don't insult my intelligence.

Originally posted by TheWrightWing

Originally posted by JohnnyCanuck
reply to post by DarthMuerte

 

Nice to see how corporate greed always gets a free pass from some folks.

Funny how resistance to mob looting is always seen as "Greed" by some.

No one owes you one second of their life or one penny of their property.

Lets be clear on at least that, agreed?

So you think it is okay for 1 person to own 10 vehicles, 4 homes at each corner of the map, a Private jet, the staff to keep up all of these expenses.....dinners at fancy restaurants that are over priced, prostitutes, coc aine ect.
All while people with MORALS try to raise their families and have health insurance go without? Sure, nobody owes anybody anything but it should at least come down to the common sense of "take and give", good values and high morals.

So you think the average American is LOOTING off these big wig CEO's ? That is a sad way of thinking.
It's those big wigs at the top that should take the pay cut. Sell a few of those cars, two of those 4 homes, eat at normal restaurants, get off the drugs, sleep with your wife not the whores ect. Geez, what is wrong with some people! Spoiled, materialistic Americans.

reply to post by grey580


You appear to be completely clueless about how capitalism works.

Movie theaters and movie production studios are 2 separate companies.

Movie theater chains have paper thin profit margins.

Try a Google search and stop pontificating.

You look like a fool.

Originally posted by Hope4peace
So you think it is okay for 1 person to own 10 vehicles, 4 homes at each corner of the map, a Private jet, the staff to keep up all of these expenses.....dinners at fancy restaurants that are over priced, prostitutes, coc aine ect.
All while people with MORALS try to raise their families and have health insurance go without? Sure, nobody owes anybody anything but it should at least come down to the common sense of "take and give", good values and high morals.

Its none of my business, or yours, what people do with their own money. Would you pass a law that prohibits folks from owning x number of cars? Limit how many times a week you can go to over-priced, fancy restaurants?

Whats it to you? Mind your own damned business and stop counting other peoples money.

So you think the average American is LOOTING off these big wig CEO's ? That is a sad way of thinking.
It's those big wigs at the top that should take the pay cut. Sell a few of those cars, two of those 4 homes, eat at normal restaurants, get off the drugs, sleep with your wife not the whores ect. Geez, what is wrong with some people! Spoiled, materialistic Americans.

Would you force them by law to acknowledge that "At some point you've made enough money"? Would you force them by law to sell off their property and only go to eateries you approve of and control their personal decisions, by force of law?

Responses like yours are a reminder; Inside Every Leftist Is a Little Authoritarian Dying to Get Out

You run your business and your life your way, I'll run mine the way I see fit.

With your um, "permission" of course.

To make sure you are clear on where I am coming from I offer a reminder: Howard Roark, from Ayn Rand's The Fountainhead:

I do not recognize anyone’s right to one minute of my life. Nor to any part of my energy. Nor to any achievement of mine. No matter who makes the claim, how large their number or how great their need.

You can hear and see the speech in its entirety here, a teaching moment every person should be at least aware of:



Earn your own wealth, others have done it and you can too. You deserve success.

Here is a related story from my area (related in that an employer is laying off workers due to Obamacare):

Reading Eagle

Reading Health System, the parent company of Reading Hospital, laid off 210 employees Tuesday as part of a cost-cutting plan that also eliminates another 181 jobs through attrition. Officials said the cuts and a switch in the employee retirement package to a defined-contribution plan are in response to changes in the national health care system, including cuts in Medicare and Medicaid reimbursements to hospitals.

Yes, one of the largest employers in the county that I live in is laying off workers.... Because of Obamacare.

Also, fewer patients are getting elective surgeries because they have been laid off or have experienced cuts in their medical benefits, said Therese Sucher, chief operating officer.

People have been changing their health insurance plans because prices are going up.

I thought Obamacare was going to make healthcare affordable?

reply to post by TheWrightWing

Kudos. You beat me to a near identical reply.

Some one clue me in. What happens to those who simply CANNOT work?
My mom had a heart attack that completely disabled her, ( It wasn't your average heart attack.) she has this stupid insurance that only covers if she's pregnant (not possible) and no "extra money". So what happens to her? No social security? We filed but there was no reply. I fear the worst for us.

Originally posted by FlyersFan

Originally posted by Cuervo
I owe every single damned bit of my success to my neighbors, my community, and my government.

So you are just a brainless tomato along for the ride?
Your brain and your drive and your push to do better and/or educate yourself are nothing?
Everyone else propped you up cuz' they are such good folks. Okay .. got it.

So you are just a selfish egomaniac riding on my work?
Your brain and your drive and your push to do better would have taken you as far in Somolia or Uganda?
Nobody else helped you up? You live in the jungle? Okay... got it.

Originally posted by strudlez101
Some one clue me in. What happens to those who simply CANNOT work?
My mom had a heart attack that completely disabled her, ( It wasn't your average heart attack.) she has this stupid insurance that only covers if she's pregnant (not possible) and no "extra money". So what happens to her? No social security? We filed but there was no reply. I fear the worst for us.

well, going with the tone of this thread, you and your family are supposed to take care of her, if not, maybe charitable giving would help, if she still can't make it, she dies...everyone keeps their own money, no matter how it is earned, or at what cost to others along the way.

reply to post by tothetenthpower


link

I found this to at least attempt to be accurate:

If film rental and advertising costs were the only expense, then move theaters would be profitable without the adding the expensive price tag on concessions. However when looking at Regal Entertainment, other operating expenses such as wages and electricity amount to nearly $200 million. After accounting for other income statement items, the quarterly net income was only $16.4 million - a profit margin of only 2.3%. Concession based revenue is essential.

It is from 2010 so perhaps someone else can find something more current. 2.3% profit margin doesn't leave any room for additional expenses.

reply to post by Hope4peace


The face says it all.

I'm thinking that you must still be young or have not been dealt a good hand. Such is life.

I am retired, on a fixed income with health problems that prevent me from working at the moment and I still pay for my health insurance and have to pay a additional 1300 dollars in taxes this year. No kids, no property, I rent a one room apartment, I pay my bills cash...and you think that the people at poverty level are being screwed?

I don't begrudge one cent to those who have made it and are providing employment to others. But ObamaCare will be the death of us all.

The road to hell is paved with the bricks of good intentions.

Originally posted by jimmyx
well, going with the tone of this thread, you and your family are supposed to take care of her, if not, maybe charitable giving would help, if she still can't make it, she dies...everyone keeps their own money, no matter how it is earned, or at what cost to others along the way.

Seems to be the "new" American way. That's not the country I grew up in.

Originally posted by TheWrightWing
Its none of my business, or yours, what people do with their own money.

Then why do the elite want to make it their business?

reply to post by DarthMuerte


Regal Entertainment Group? Thanks for the heads up. No more movies at Regal. Screw them.

Originally posted by VaterOrlaag
reply to post by DarthMuerte

 

Let's see, they're the largest chain of movie theaters?

How much money do they rake in every year?

I'm getting a little frustrated with seeing bigger businesses that clearly can afford healthcare (but don't want to because it cuts into their profits) blaming Obamacare for cutting employee hours. It's a problem they could fix somehow but it's easier for them to blame the government.

Is Regal a publicly traded company? If so its their responsibilty to make profit for the stock holders.

Reply to post by DarthMuerte

Actually, Obamacare did nothing of the sort.

The employees hours were cut because their boss decided his profits are the only thing which matter.




Posted Via ATS Mobile: m.abovetopsecret.com

Originally posted by TauCetixeta
reply to post by grey580

 

You appear to be completely clueless about how capitalism works.

Movie theaters and movie production studios are 2 separate companies.

Movie theater chains have paper thin profit margins.

Try a Google search and stop pontificating.

You look like a fool.

And you think I wasn't aware of that?
That a movie can have different companies that produce, distribute, advertise etc?

Never Assume.