Jimmy John's founder: Business owners unsure of the future
Jimmy John Liautaud on state of U.S. economy
- Duration 4:15
- Date Oct 15, 2012
Jimmy John Liautaud on state of U.S. economy
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A live look here -- sixth avenue in New York City just a block away from where we are -- wind will be attending a very big fund raiser -- -- Republicans are giving a big push -- ahead of tomorrow night's big debate in my next -- Happy to oblige that it -- -- -- so -- course that found the CEO of the gourmet sandwich and.
I had a bears his fine -- in the big Romney back.
But you do us right and it's.
I am not -- the food and I am not going around an event tonight okay.
But you know you are big Romney -- And I and you an -- chatting briefly during the break you thrives under democratic Republican presidents alike -- -- -- what a few hundred more stores.
System to bunny ears and Obama is -- Finds Obama the last four years have been very good tests and the 26 years before that we're also very good guys -- But it is that you're at thirty and I thirty -- overnight -- exact but but if he's been so damaging you would have been able to its -- Well -- We do a lot of RX 80% of our expansion comes from current franchisees so.
-- they've been in the system for a long time and weather system that says as healthy and viable as ours is and that's what happens over time -- -- financial growth.
So but what's happening right now.
With them what the future and owners I have a lot of these franchises are holding -- are not sure what this is what this is really gonna happen with obamacare.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Over time dilemma or that the health care automatic provide exactly you do this event.
We we have to do the same you know we're not doing an album we we have to bring him down to 28 hours -- we have to do that I mean there's no other way we can survive it has and we may get -- fifty cents a sandwich that's just the actual realized.
-- we do.
On what about just paying the penalty a lot of your.
Competitors and you know down the road -- we can just see paying the penalty -- What you have forty or fifty employees at a restaurant the penalty is 2000 dollars and you're gonna pay -- 100000 dollar penalty.
There that there goes the -- Iraq strap so.
You know it's is very expensive to just pay the penalty as well so I think we have to manage around it -- did you start like Mitt Romney.
You you didn't really need to government but you had a period you do parents for a -- -- my parents let me 25000 dollars what did they say what was what -- -- -- some among.
82 while I tell -- that I would be successful woman said well if you're not successful and then and you don't pay aspect you gotta -- gotta give his two years in the army and I said it's a deal.
And so I did and I made it happen and -- have my father actually -- 40% in the business for two years I finally bottom out my owner myself and 85 and he made a killing him.
I know my primary.
-- you know that's actually I made fun -- but it by the Democrats by Joseph Biden and and Barack Obama saying.
Not all of -- -- approach from parents and and yet.
Money hey listen I totally understand that I was actually blast.
And dad and end and I'm really fortunate that my parents were there for me and and I hope that bad that I can give back to society the way they have in the way you know I just I was very fortunate.
Yeah it and done you've made some news by saying when it comes Illinois you you you might pull out.
So lower tax environments Florida's come up texas' come up.
Yes where does that stand here's -- sense I don't mind paying the tax that taxes it's okay to pay to accept and I'm very good with paying the tax.
But we we spend so much time in ever making that money and I don't like the inefficiency and widgets -- disrespect and wouldn't you know we're so regulated and discipline a child 1% of them how to send them but when they disrespected the way they do it whether inefficiencies.
And poor planning it doesn't make me feel good about -- go to Indiana where Mitch Daniels is is using has excess cash to build.
-- -- -- -- I don't know we I like -- explain -- on the other hello Donna little of that but that's normal I say.
And you've been used to defeat of Romney staff it is and it's right does that give them absolutely exceed that of those used to disease is that -- things like I don't.
I think -- -- -- a -- but you know what the Obama staff likes them -- real yeah they do you're out there and now wants food provide a very ago.
Jimmie thank you very very much sense -- alleged tendency thank you for having me you know it.
Well what if there --