Is anyone at CNBC intellectually able to connect-the-dots that the Leviathan government they worship is responsible for these economic realities?
Andy Puzder, the CEO of CKE Restaurants, the parent company of Hardee’s and Carl’s Jr., should know. His company is expanding rapidly abroad due to higher potential outside the U.S., which is hampered by what he sees as too much government regulation.
“It’s difficult to open in the U.S., but we love the U.S. and continue to fight the good fight to open restaurants and create jobs,” Puzder said. “It’s just that the government is making it hard for us to build those restaurants.”
Over the last three years, Hardee’s and Carl’s Jr. opened more restaurants internationally than in their own backyards—a first, he added. CKE now operates restaurants in 30 foreign countries.
On a percentage basis, the growth rate is striking. During this period, the company increased its restaurant count domestically by 2 percent. Meanwhile international locations jumped by 53 percent as CKE filled in “white space” or areas where it currently doesn’t have restaurants.
“Under the current U.S. business climate, regulatory and tax restrictions tend to curb otherwise dynamic entrepreneurial energy,” Puzder said. “We’d love to see more growth in domestic markets. Unfortunately, it’s easier for our franchisees to open a restaurant in Siberia than in California.”
(Don’t miss the mention—in line with my post below—that the stupid ethanol mandates are hurting us all in the food markets, as well as harming our cars and the environment.)
Bad business climate, regulations that hinder growth and lower the number of available jobs, especially hurting those at the lower-end of the economic scale, enriching the richest of the rich whose campaign donations keep CNBC’s political bedfellows in power…
You would think articles like this would finally wake someone up to the harsh realities they support with their faux journalism, which is usually little more than Democratic Party PR.