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RCI Hospitality Holdings, Inc. Message Board

  • distant_constellation distant_constellation May 9, 2013 12:20 AM Flag

    1400 employees will need medical insurance under Obamacare

    Thanks for pointing this out ttulio3. Wow. You might as well be a short.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • This is a bad assumption... only 140 full-time mgt will have to have only if they don't have a health ins bene now. P/T people like the wait staff, bar staff, etc, will not. I know you're trying to make this a BIG issue but all you're doing in making a fool of yourself by posting bogus/misleading #s!

    • It's not like Ricks will be alone in bearing these additional cost if they do have a great impact. Every other bar will also have to pay these additional employment cost. Any forced wage or benefits increase that is universal across the industry will be a wash. Lets assume Ricks charges $10 a beer, while the standard bar charges $4. Now let us assume employment cost rise for everyone, the standard bar will just raise there beer price to $5 to cover the extra expense, and Ricks will be able to move their price up to $11 or maybe $12 a beer. The overall relative price of a beer remains the same for those who wish to drink, and the ratio of beer price for patrons will not adversely change. Only cost increases that are strictly enforced on strip clubs will have a real negative effect on Ricks. The other thing to keep in mind before someone states the increase price tag on beer will adversely effect all bars, is that people seem to have this irrational inelastic demand for alcohol. People will choose alcohol over far more important things, when pressed by a budget. People who go on unemployment, will just replace their previous job site with a bar as a way to pass the time. The other thing to remember is that most patrons expect alcohol to be vastly overpriced at a strip club, so what is another dollar on a $10 beer?

    • Distant

      That would be a great question to ask Eric on a conference call. I believe the company just has to offer healthcare to full time employees-more than 30 hours. I don't believe the company has to pay any of the premiums. Does anybody know the facts about Obama care.

      Sentiment: Hold

 
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