Papa John’s Pizza founder and CEO John Schnatter has been making headlines this year with his one-man crusade against his customers, and now his employees, over his restaurant chain’s new responsibilities under President Obama‘s Affordable Care Act.
Schnatter has earned extra-large, stuffed-crust bad PR for his trouble, as photos of his extravagant Louisville estate have gone viral, and his company’s stock price has taken a 9% dive since his latest remarks. For all of his bitching about President Obama and support for Mitt Romney, though, Schnatter’s stock price was at $51.90 per share on Election Day, more than triple the $16.58 it closed with when President Obama was inaugurated.
On the other hand, during the eight years of the Bush administration, Papa John’s stock price leapt from $11.97 per share to $16.58, an improvement of $4.68.
Since Election Day, though, Schnatter one-upped his promise to jack the price of his ‘za up by a whopping 11 cents to cover his employees’ health care by explaining that his franchisees will probably cut those employees’ hours to avoid that “crippling” expense. Since Schnatter opened his yap this last time, Papa John’s stock has dropped $4.68, as of 2pm Thursday. That’s eight years worth of Republican presidenting, gone in a matter of days.
h/t Mediaite
