Obamacare Strikes, and Forever 21 Cuts Employees' Hours

[Mr. Big Dog 10,747]

I think corporate greed is evil and exactly the thing that laws should curtail. Sucking the life out of a company to make extra bucks for the boss is a bad thing. I fundamentally reject the notion that this is good or the way things naturally "are."

This whole issue is political and not based in real arithmetic. CEOs are pissed that they might have to give up 1% or some silly number of their megatastic income so that their workers can have insurance. Newsflash: they can afford to give them insurance. If they can't then their business sucks and they should go under and let another business do it better.

Businesses can make money and have a solvent business and also give healthcare and other perks to people. Businesses can give their workers a living wage, and that should be what employers strive for. Henry Ford believed that his average workers should be able to buy his cars, an expensive item, and his model of increasing wages for his employees, and he did just fine. He was so rich he bought buildings in Europe and had them moved to his house so he could have a cool yard.

And, just so you know, "forcing them to buy insurance" is a Republican/conservative idea.

Please discontinue the introduction of fact and common sense here. I will have to report you if you do not stop with this.

[The Nature Boy 4,224]

indeed. we'll all remember this fateful day. the day of the forever21 economic collapse.

sadly it's not just 21. Unions are fighting for exemptions, saying it is going to kill the 30 hour work week.

If it's so great why are so many groups the majority of which are labor exempt from it

[decocker 7,198]

That is the problem with liberal media and liberals did not understand, every business is out there to make money.

well that just knocked my socks off. i have never once considered that every business is out there to make money..

[RGinWA 816]

Heaven forbid that instead making $124 million in profits that Forever 21 profits $120 Million...Obama care is so horrible!

How dare the government make them cut those hours.

What an unethical company...my daughter will never shop there again.

2011 Revenue - $.2.6 Billion

2011 Profits - $124 mil

[Darnell 8,479]

why to purchase at Forever 21 anyway? Most of that stuff is made in China. Why to support foreign families? That's just stupid, IMO.

[Mr. Big Dog 10,747]

Heaven forbid that instead making $124 million in profits that Forever 21 profits $120 Million...Obama care is so horrible!

How dare the government make them cut those hours.

What an unethical company...my daughter will never shop there again.

2011 Revenue - $.2.6 Billion

2011 Profits - $124 mil

Fact is that most of these employees don't have any benefits today - surely they don't have health coverage. So what we're saying is that thanks to Obamacare, they won't have benefits tomorrow. Oh but yeah, their hours get cut 1-2 hours a week - if that. Retail has been shafting employees for years now - decades even. Most of the "full time" employees at my wife's employer have been lucky to net 20-25 hours a week over the last year or so. That's down from 25-30 hours a year earlier. And that has absolutely nothing to do with Obamacare. These corporations are squeezing pennies to satisfy Wall Street. Obamacare is nothing but a scapegoat in their continued race to the bottom.