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Tue August 7, 2012
Papa John's CEO: Health Care Law Will Raise Pizza Prices
In a conference call, Papa John's CEO and founder John Schnatter spoke out against President Obama's health care law, arguing the Affordable Care Act will increase the cost of pizza.
"Our best estimate is that the Obamacare will cost 11 to 14 cents per pizza, or 15 to 20 cents per order from a corporate basis," Schnatter said.
"We're not supportive of Obamacare, like most businesses in our industry. But our business model and unit economics are about as ideal as you can get for a food company to absorb Obamacare," he said.
"If Obamacare is in fact not repealed, we will find tactics to shallow out any Obamacare costs and core strategies to pass that cost onto consumers in order to protect our shareholders best interests," Schnatter vowed.
The Louisville businessman is a well-known Republican fundraiser. Schnatter has hosted a fundraiser for Mitt Romney and GOP congressional candidate Brooks Wicker as his home in Anchorage, Ky., earlier this year.