Regal Theater Chain Cuts Employees’ Hours To Avoid Obamacare

After Company Executives Get Massive Bonuses, Regal Theater Chain Cuts Employees’ Hours To Avoid Obamacare

The theater chain claims that it is simply trying to “manage [its] budget…in accordance with business needs.” But that assertion rings hollow considering Regal’s soaring profits and lavish executive compensation. In 2012, Regal’s stock went up by over 20 percent, and every single major company executive, including the CEO, CFO, and COO, received a six-figure pay increase. CEO Amy Miles made off particularly well, with her pay rising by 31 percent to $4.45 million for the year, bolstered by a base salary increase of $750,000.



http://thinkprogress.org/health/2013/04 ... ?mobile=nc


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How stupid, of course a company should "give" to Obamacare it's the "american" thing to do.

Source seems a little biased to me, but the cost of those bonuses is probably much smaller than the price of covering so many employees. And did the employees have a healthcare option before ACA?

IIRC, Regal is owned by Anschutz or affiliated with the man if you want to complain. Or vote with your feet and visit another movie chain or rent DVD's.

They are already reeling from the negative press, and the outrage of the public... I predict that just like the Darden chain, (Olive Garden, Red Lobster, etc.), they will quickly find out that they've made a pretty stupid P.R. mistake...and they will be paying for it.

FYI: I sent a nasty message to their corporate offices, and just mailed in my Regal Cinema card, (which I've had for at least 5-6 years), cut into pieces with an equally nasty letter...

Of course, you are free to continue to support them. But right now, they are on the losing end of public opinion....

I go to the movies like once a year, maybe a couple more this year because of some really cool movies coming out, but anywho, they ain't makin that much off a me. Besides that, I feel in the last ten years their prices have skyrocketed and that's simply why I go less often. Couldn't care less about them as an employer.

CinnamonGirl wrote: After Company Executives Get Massive Bonuses, Regal Theater Chain Cuts Employees’ Hours To Avoid Obamacare

The theater chain claims that it is simply trying to “manage [its] budget…in accordance with business needs.” But that assertion rings hollow considering Regal’s soaring profits and lavish executive compensation. In 2012, Regal’s stock went up by over 20 percent, and every single major company executive, including the CEO, CFO, and COO, received a six-figure pay increase. CEO Amy Miles made off particularly well, with her pay rising by 31 percent to $4.45 million for the year, bolstered by a base salary increase of $750,000.

http://thinkprogress.org/health/2013/04 ... ?mobile=nc


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How stupid, of course a company should "give" to Obamacare it's the "american" thing to do.

I can not believe that this surprises anyone.

I know of more than these business that are cutting hours and not replacing worker to stay under the cap.

There always seems to be this notion that businesses big and small can absorb any government regulation/tax/fine without consequences to the bottom line... as if there is always year round profit surpluses. I'm glad Obama has his name permanently attached to this law so nobody ever forgets how this disaster started.

I predict a threatened public boycott would have little effect. The audience for most movies are teens who could care less about healthcare benefits.

I returned my Regal Cinemas card years ago when they started posting their gun free zones. How well did that gun free zone work for the Aurora theatre?

There's going to be so many businesses doing the same thing that these boycotts will just be a joke after a while anyway.

Moving employees to part time work was already a growing trend and ACA is just increasing the pace.

Mandate like France that people must be fulltime? Unintended consequences, teen unemployment is at record highs.

I think Obamacare will really affect people at smaller to mid sized companies where they don't currently have insurance; sometimes in a positive way by getting the uninsured insurance, but also very often in a negative way.

I don't know if it applies so much to Regal which is larger and has high paid execs, and I think some companies like Papa Johns are making their point which may be valid, but it's also political.

I'm on another sports related board where a long time member posted about his company. It's a smaller casino in the Seattle area (he's from Reno) where he is responsible for about 150 employees. His company is smaller, and it is a very competitive environment in order to survive as a company.

I won't copy his post here, but this is a link to it if you want to read it (hopefully it works). If you read it, you'll also see how complicated government continues to make things with new laws like Obamacare.

Obamacare and Me...

http://www.silverandbluesports.com/forum/showthread.php?t=12420

Bottom line is they will have to cut hours for about 60 full time employees down to 30 hours in order to make them temps that don't have to be insured under Obamacare. And about 25 employees that work dual jobs will lose at least one of their jobs.

If you read the thread, you'll see how competitive the business is. Plus he mentioned that dealers make over $60K with tips and can afford their own insurance. The problem that I don't think he knows is that those making over $60K are considered "rich" under Obamacare and will get no subsidies for their health insurance. Not only that, but they will also have to pay about $2K extra per year as I recall to subsidize others. Plus their insurance will go up due to the additional coverages required by Obamacare.

Bottom line is Obamacare was rushed through, not well thought out, and I see it costing jobs and income. We'll see what happens, but at this point I think if you want to write letters of outrage to companies, you might be writing them to the wrong place.

And the self employed / contractors will face the same huge increases in health care due to the subsidy factor alone, not to mention the increases due to extra coverage.